Social commerce is a subset of e-commerce and more broadly retail. It’s the evolution and maturation of social media meeting shopping. Essentially allowing a transactional relationship to take place between customers and sellers, enabled by social media. The breakthrough of Social Commerce is logical but also society driven. What’s happening today isn’t just circumstantial, COVID-19 heralds an inevitable and palpable shift in consumer behaviour that will change the face of both traditional and online retail. Although it’s too early to be definitive, studies have predicted that in the UK, for example, 40% of all physical retail may move online following the pandemic: that’s a 20% increase. In gravely affected countries such as Italy, 35% of the population have reduced their reliance on conventional retail and OOH consumption. Read more…
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