As the digital transformation of traditional media continues at a rapid pace, live shopping has been reimagined for the social media consumer. The key difference is that brands use new tools and influencers to create more engaging shopping content and frictionless user experience, driving greater results and ROI as a result.
As the pandemic is lifted, shopping on social media is projected to grow thrice faster than e-commerce to reach £1.2trn by 2025, with Millennials and Gen Z accounting for 62% of global spending.
With the rise of influencer marketing and online videos, social commerce is experiencing a boom, boosted by the need for human connection and for brands and platforms to integrate seamlessly into the lives of consumers.
The live shopping evolution with influencers and creators began in July 2020 with Amazon, Instagram and Facebook, and TikTok allowing influencers to promote their favorite products through live video. Today, the 2022 Instagram Trend Report revealed that about 27% expect to shop directly through their social media feeds and in-app features. Instagram Shopping and TikTok have been introducing new tools over the last few years.
With 97% of Gen Z consumers using social media for their shopping, tapping into influencers will be key to driving success for brands. Influencers, as skilled storytellers and content creators, have the know-how and experience to bring products closer to audiences in engaging ways, making them perfect partners in a live shopping.
With consumers already relying heavily on influencer recommendations, influencers are the ideal conduits to integrate live shopping features into their content. This will only increase in relevance as shoppers aim to save time when shopping.