Social commerce trends for brands

Social commerce can’t reach its full market potential without an active social retail experience led by brands. Social retail is the convergence of social media and physical retail that allows consumers to engage with retailer and brand products in an interactive, unlimited reality. Live shopping events hosted by creators and brands are a recent trend that best illustrates what social retail is. Walmart has hosted live shopping events on TikTok and YouTube, and it will also become the first retailer to test Twitter’s new live shopping platform.¹ A global cosmetics retailer ran a campaign in Malaysia with a series of Instagram Live events hosted by beauty content creators and achieved an 8x return on ad spend (ROAS ²). Retailers and brands in the US are leveraging social retail to enter the social commerce space because of increased marketing and sales effectiveness, along with new, diversified revenue channels.

Brands and retailers interested in enhancing their social commerce strategy to become a successful social retailer should begin by considering these five questions:

Given our unique access to the players in the social commerce ecosystem, Deloitte is equipped to support brands as they execute on their social commerce and social retail strategies. For more information, explore the additional perspectives we’ve developed on social commerce.

Endnotes

¹ https://techcrunch.com/2021/11/22/walmart-will-be-the-first-retailer-to-test-twitters-new-livestream-shopping-platform/
² Kiehl’s Malaysia: Instagram Ads Case Study | Instagram Business | Instagram for Business
³ CMO Today w. Deloitte

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		Kelly Moran Principal Deloitte Consulting LLP			Marc Weiner Customer Strategy & Applied Design practice Deloitte Consulting LLP			Rachel Kim Core Business Operations Deloitte Consulting LLP