Social commerce. Social commerce, aka the direct sales via social interfaces, may have had a slow year, but don't count it out. With a $580B global business already established and 1 in 3 Gen Zers starting their purchase journeys on social media, there's still plenty of room for growth. The key is to reassess the principles of social commerce and embrace the concept of connected commerce, showing that investment in this space is a smart move for 2023.
This trend originates from the report:
OGILVY - Social Media Trends 2023
And in the UK, 1 out of 3 Gen Zers now start their purchase journeys on social media. There’s no doubt that, despite in-app purchase features becoming more advanced, the trend of buying directly through social media has leveled off, triggered by trust barriers, attribution vagueness, clunky features, targeting and IDFA crackdowns implemented by the operating systems. We believe that 2023 is the time to reassess the principles of social commerce and explore the notion of ‘connected commerce’.
And we believe that the case for continuing investment in this space is stronger than the one for halting it..