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Social Commerce

Social Commerce

Social commerce: Scrolling is the new retail therapy

When the likes of Myspace and Facebook first appeared in the early 2000s, they were mostly used for sharing photos, reading and sharing news and funny posts, and connecting with friends. However, as the popularity of social media exploded in the mid-2010s, social media firms saw the potential not just to connect friends and family but to also bring buyers and sellers together. These platforms are ideal hosts for marketplaces, as shoppers can leverage their social networks to discover, research, and share opinions on products. 
Early attempts at this were made by Meta’s social media apps, including Facebook, which launched Facebook Marketplace in October 2016. This was well-received by both established brands and solopreneurs, which led Facebook to position its Marketplace prominently on the Facebook mobile app. Fast forward to the 2020s, and these features have become an integral part of social media platforms, with almost all the major social media platforms launching dedicated in-app shops. 
This trend of buying and selling on social media has come to be known as social commerce. It is not only a new channel to market and sell products, but potentially represents a whole new way in which consumers interact with brands. In this Insight, we deep dive into this trend and explore what's in store for social commerce. 

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