#5 Social Commerce Insider: The Hottest News 🔥

By
Kathrin Gering
November 6, 2024
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Hey social commerce aficionados! 🦸♂️🦸♀️

Welcome to this week's Social Commerce Hot Takes, where we’re diving into three of the biggest moves in social commerce right now! 🚀

This week, we explore the growing power of live streaming to reshape e-commerce, new findings on trust issues limiting purchases on social media, and TikTok's big holiday push into livestream shopping with “super livestreams” and creator events.

Let’s jump into the hottest stories shaping the future of social commerce!

SOCIAL COMMERCE HOT NEWS

đź’Ą HOT TAKE #1:

Five Predictions For The Future Of Live Streaming

Live streaming is positioned to become a transformative medium, reshaping industries and culture alike. According to predictions from StreamAlive’s CEO Lux Narayan, live streaming will soon surpass traditional e-commerce in audience engagement and conversion, as platforms like TikTok and Amazon Live integrate real-time shopping features. Additionally, the rise of AI-driven personalization will tailor content to viewers' preferences, enhancing user engagement. Live streaming's unique ability to foster niche communities around shared interests is also driving "community-based commerce," while its impact on society extends to education, activism, and even ethics. As live streaming grows, brands and content creators must adapt swiftly to harness its expanding influence and deliver meaningful connections with audiences.

👉 Read the full Forbes article on live streaming’s transformative impact here.

đź’Ą HOT TAKE #2

Trust Issues Limit Purchases on Social Media Platforms Despite Popularity for Browsing

A recent survey by AfterShip and Ipsos reveals that while 76% of shoppers browse social media platforms like TikTok Shop and Instagram Shopping, many hesitate to make purchases due to trust and security concerns. Although social media is popular for discovering trends and inspiration, 41% of users prefer purchasing directly from retailer websites, and over half (52%) cite a lack of trust in social media platforms. Younger shoppers, however, show higher engagement, with 34% of 18- to 34-year-olds shopping on social media weekly and 65% likely to continue in the future. The survey suggests that building trust and emphasizing security could encourage more direct social media transactions.

👉 Dive into the full survey insights in this Chain Store Age article here.

đź’Ą HOT TAKE #3

TikTok Bets Big on Livestream Shopping to Drive Holiday Sales

TikTok Shop is making a major push into livestream shopping this holiday season, aiming to boost sales with a lineup of “super livestreams” featuring celebrities, co-funded shipping, and creator-matchmaking events. Shifting from last year’s focus on heavy discounting, TikTok is now prioritizing training and equipping brands to host live sales. The platform has nearly tripled its U.S. shopper base since its 2023 launch, though livestream shopping remains a niche in the U.S. market, with only 14% of adults making purchases through live events. Despite these challenges, TikTok sees significant growth potential, looking to capture a portion of the $1.59 trillion projected holiday spending in the U.S.

👉 Read the full article on TikTok’s holiday live selling strategy here.

That’s all for this week! Stay tuned for next week's roundup!

Want to dive deeper into Social Commerce or have insights to share? Get in touch. đź’ś

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