How social commerce has become the buzzword

86 per cent of participants preferred Instagram


Yahoo may have lost to Google in the war for the internet, but a term coined by it in 2005―social commerce―has become the buzzword. Social commerce is defined as the use of social media platforms to facilitate the buying and selling of products and services.

One of the main benefits is that it allows businesses to connect with customers in a more personal and engaging way.

Research company GoodFirms recently conducted a survey of 370 social media users from across the world. They found that 75.6 per cent of the participants shopped through social media platforms. They also found that Instagram, Facebook and Amazon Live are the most preferred channels for social commerce. Some 86 per cent of survey participants preferred Instagram. Another interesting observation was that 56.8 per cent of survey participants shopped based on the advice of social media influencers. Influencers used live broadcasting options on social commerce sites as their main channel to recommend products.

Live-streaming viewership increased significantly over the past years as a direct impact of the pandemic. A crucial aspect of live commerce is the ability to make ‘in-the-moment’ purchases. Live streaming events promote quick purchasing trends among social media users. The survey also showed that social media users are eagerly waiting for shopping ops in the metaverse. Some 62 per cent of survey participants responded that they would like to use virtual worlds created on the metaverse for social shopping.