Social commerce trends for platforms

Social platforms have a key role to play in rapidly developing social commerce trends. As the forum that unifies brands, creators, and users, platforms hoping to engage in social commerce may face unique challenges, including lack of commerce experience, underdeveloped partner and creator strategies, and legacy operating models—all of which are essential to address on the road to becoming an effective social commerce platform. For the platforms that have already entered the social commerce space, there are still opportunities to enhance the experience for brands, creators, and consumers alike. Some platforms have started to enable social commerce by building in-app features and tools. These integrations have pushed brands to shift advertising spend to social media, prompting creators to produce content that boosts user engagement and impulse buying. This profitable ecosystem relies on social commerce platforms acting as the glue that holds the system together.

Platforms interested in kickstarting their evolution to a social commerce platform should form an understanding of how to answer five core questions.

Endnotes

¹ Slow Shoppers Spend More | Pinterest Business
² Social Commerce 2021 - Insider Intelligence Trends, Forecasts & Statistics (emarketer.com)
³ Social Commerce 2021 - Insider Intelligence Trends, Forecasts & Statistics (emarketer.com)
⁴ The State Of US Social Commerce | Forrester
⁵ Data Privacy Day at Apple: Improving transparency and empowering users - Apple

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		Dennis Ortiz Managing Director Deloitte Consulting LLP			Marc Weiner Customer Strategy & Applied Design practice Deloitte Consulting LLP			Ashley Perkins Customer Strategy & Applied Design practice Deloitte Consulting LLP