Commerce isn’t driving revenues for social media platforms the way the platforms once hoped. That’s what our analyst Jasmine Enberg predicted during the keynote session of our “Attention! Trends and Predictions for 2023” event.
But social shopping is not ending. “Social commerce in 2023 will be defined more by a return to basics,” rather than experimentation, Enberg noted.
What are those basics? Ads, ads, and more (creative) ads.
“People are still clearly using social media to discover new products, discover new brands, [and] connect with influencers,” and more, Enberg observed. But even after clicking through ads, consumers aren’t keen to adopt social media platforms’ proprietary tools like checking out via Instagram or buying directly from livestream on Facebook.
TikTok could be an exception—or at the very least, exceptional. Four in 10 US users ages 18 to 24 start their searches on TikTok or Instagram, according to internal Google data.
TikTok is well positioned for the next year of social commerce.
Strategic breakdown: Social commerce is here to stay, even if many platforms’ proprietary tools haven’t stuck.
Missed the “Attention!” event? You can rewatch sessions here.
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