Maintaining momentum: Social commerce experienced two years of exceptional growth amid the pandemic, and while growth in the number of social buyers is slowing, the amount of social commerce sales is still rising rapidly, said our analyst Jasmine Enberg on a "Behind the Numbers" podcast.
Pocket change: Despite high inflation rates, younger consumers are still buying discretionary items via social commerce.
Don’t be alarmed: Earlier this month, Instagram made headlines with the news that it was shutting its shopping page and refocusing its efforts on initiatives that drive ad revenues. Many interpreted that as a move away from social commerce, but that’s not the whole story.
The new normal: “Despite what you might be hearing, social commerce is not going away,” said Enberg. “But it is changing. There is going to be lots of trial and error as the platforms fine-tune their offerings, and I expect there will be more tools that are shut down and new tools that are rolled out.”
Recipe for success: Because most of social commerce’s growth will come from existing buyers, Enberg recommends that brands focus on strategies to reengage them, specifically prioritizing ads, shoppable creator content, and deals/discounts.
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