Commerce Tag

Snapchat continues to make incremental changes to e-commerce and making it easier to display and buy products in all new ways, this time by adding new product stickers for Snaps, which will guide users through purchase pages of the actual items.

But first, a quick recap: Back in April at its annual Partner Summit, Snap announced an upcoming ‘Dress Up’ element for the app, which would facilitate greater product discovery by putting a dedicated focus on its various buying and testing tools.

As you can see from this example, ‘Dress Up’ will be somewhat similar to Instagram’s Shop tab, given its dedicated product focus, but it will be a more advanced version, aligned with AR, with a range of digital products on display that can then be overlaid. to their own real-world scenes.

That will provide another option to see what the actual products would look like on you, or in your home, etc.

And now we have a first glance how the Dress Up process will work in the app.

As you can see from these screenshots, posted by user @peplm On Twitter, some Snap users now have access to a new product tag tab in the app, which includes a variety of digital items that you can then add to your content.

New product stickers are categorized into brands, with the majority, at least at present, being clothing and accessory businesses. Tap on these brand sets and you can select specific products, which you can then add as stickers to your Snap frame, which users can tap to learn more about the item or make a purchase.

We asked Snapchat about the addition and they provided this statement:

“We’re constantly looking for new ways to promote discovery on Snapchat. As part of that, we’re in the early days of testing Dress Up Stickers, where Snapchatters can find, try, and buy real products from the brands they love. While only available to a small number of Snapchatters at the moment, Dress Up Stickers will finally live in a new tab Dress Up Stickers ‘hanger’ icon within the Sticker Picker in the preview after taking a Snap.”

So it’s not yet available to many users, but it will eventually become Snap’s new Dress Up item, which will provide a new way to try on clothes and other items virtually by placing them in the frame.

It’s an interesting take on in-stream shopping, using a more interactive approach, which could help users create more engaging and engaging content, while also offering new promotional potential for brand partners.

But we still don’t have much to go on. There is no information, for example, on how brands can list their products and how they can link the stickers to their websites to purchase them. Snap will no doubt provide more information as the option rolls out more widely, but it could be another consideration for brands looking to maximize product discovery, especially among younger audiences who are more aligned with using AR.

In fact, Snap says that 250 million of its users (72% of its total DAU count) now interact with AR elements in the app every day.

Combine that with new interactive product stickers and it looks like it could be a big winner, helping Snap encourage UGC and make in-app product discovery easier.

It’s probably worth keeping an eye on at least – we’ll keep you posted on any new developments with the offer.

In a move that likely reflects a greater concern for TikTok than Meta and its overall growth plans, Facebook announced that it will shut down its experiments with in-app live shopping, effective October 1 this year.

As reported by Business Insider, Facebook close out its native live streaming shopping program, along with the ability to create product playlists or tag products on Facebook, as you continue to refine your approach and streamline your development spend.

As Facebook explains (via BI):

“As consumer viewing behaviors are shifting to short-form video, we’re shifting our focus to Reels on Facebook and Instagram, Meta’s short-form video product. If you want to reach and engage people through From the video, try experimenting with Reels and Reels ads on Facebook and Instagram. You can also tag products in Reels on Instagram to enable deeper discovery and consideration.”

Live shopping will also remain active and in progress on Instagram, so you won’t abandon the process entirely. But he doesn’t see a future for it on Facebook, which makes sense, but also reflects the lukewarm response to live shopping in Western markets in general, which, as noted, could be a major concern for TikTok and its growth plans. .

Facebook has been experimenting with live shopping implementations for the past few years, as part of a broader push to lean into growing e-commerce trends. At the height of the pandemic, when social distancing requirements forced brick-and-mortar stores to close, online shopping surged, accelerating already-existing trends toward app spending. But as restrictions eased, e-commerce demand has also declined, probably more than many analysts expected.

That forced a reassessment of business plans in line with consumer trends, which has seen platforms like Pinterest lose out, or at least average them out, in terms of traditional e-commerce growth.

Which, as noted, could affect TikTok more than other apps.

The key model for TikTok’s growth strategy is Douyin, the Chinese version of the app, which has more than 600 million users in the region.

Douyin has been around longer than TikTok and is more advanced, which is why many of TikTok’s new tools and features look so polished, because they’ve already been rolled out to Douyin’s huge user base.

However, part of TikTok’s key challenge right now lies in maximizing revenue for creators and giving its top stars more opportunities to earn money on the app, because they can’t just insert ads into their short-form clips like they would. in Youtube.

The answer on Douyin has been in-app trading, with the platform reportedly driving $118 billion in product sales, much of it through live stream trading, in 2021 alone.

Live streaming trading has become a key trend for the app, with sales generated through Douyin live streams. increasing 7 times year over year in 2021and TThe number of e-commerce live streaming users exceeds 384 million, more than half of the platform’s user base.

EITHERIn general, live purchases are huge in chinawith predictions that live shopping revenue attain $400 billion in the region this year alone, equivalent to almost half of all e-commerce spending in the US last year. Live streaming trading has also proven increasingly popular with younger audiences, with users under the age of 27 seeing the fastest adoption of live streaming spending.

That should mean big opportunities in other markets too, but the fact that Facebook has decided to walk away from the process suggests that it just isn’t catching on in the same way, and that Western users aren’t embracing the live streaming shift with the same degree. vigor than Chinese consumers.

That could be a cultural trend. Chinese users may simply become more aligned with these new uses of the platform, similarly reflected in the way messaging apps have become essential connection tools across the region.

Western users have never adapted to messaging apps the same way, and maybe that’s just a variation in approach that can’t be beat. Some have also suggested that there are simply fewer opportunities to buy products online in China, with sales restricted to certain apps.

That could make live shopping a more attractive prospect. But whatever the reason, the failure of Western consumers to jump on the live shopping shift could be a huge concern for TikTok’s growth potential, because if it can’t offer compensation comparable to what creators can win on YouTube or Instagram, you can bet those top stars will eventually start migrating to greener pastures.

Creators have already expressed frustration at the low and inconsistent payout amounts available through TikTok’s Creator Fund, while TikTok has also recently scaled back its live shopping ambitions in Europe due to low adoption and internal conflicts.

If live shopping isn’t appealing, which, again, likely suggests Meta’s decision to scale back its momentum, TikTok may have to find alternative means of creator revenue growth and opportunity. Which may not even exist, while TikTok’s parent company ByteDance is also under increasing financial pressure and has been unwilling, at least until now, to consider increasing creator payouts.

TikTok is the app of the moment and is on track to hit 1.5 billion users this year, which would make it the third largest social platform by active usage. There is no doubt about its relevance and cultural presence. But eventually, his revenue-sharing challenges for top stars will become more of an issue.

TikTok’s design is also not aligned with the growing audiences of individual users, as its algorithms rank the best content from all users to highlight the most relevant material and keep it scrolling. The fact that it opens to the ‘For You’ page, not ‘Following’, is also not aligned with helping creators maximize reach and audience – there are several flaws in their process that could reduce their appeal to those who they seek to make content creation their focus.

Will these concerns eventually weigh more on the app? Facebook live shopping removal is certainly not a great sign in this regard.

This is an important update.

Pinterest today announced that co-founder and CEO Ben Silbermann is stepping down and moving into a new position within the organization, with E-commerce expert Bill Ready is set to take the helm of Pinterest starting June 29, 2022.

Silberman posted an impassioned update to the Pinterest blog, noting how important the platform is to him and his life.

“As you can imagine, it was a tough decision. A big part of my heart belongs to Pinterest. I guess you could call it a founder’s love. And, when you care so much about something , the natural instinct is to hold it as tight as possible, but often the most loving thing to do is to let it go and watch it blossom in new ways.

Silbermann will serve in the newly created role of Executive Chairman, where he will continue to oversee the app’s growth and development, albeit from a more distant perspective.

Silbermann’s move is obviously a major change in itself, but Ready’s appointment is also noteworthy, given his most recent role at Google, where he served as president of the search giant’s commerce and payments.

According to loan:

“There’s no better time to join Pinterest. I’ve long admired the brand and the platform that Ben and the team at Pinterest have created and everything the company stands for. I am excited to build on this foundation to evolve the company’s ecosystem and drive increased shareholder value. Having built multiple businesses from scratch and operated at scale with billions of users, I have a deep appreciation for what it takes to scale a business like this to the next level. I look forward to working closely with Ben, the Board, and the rest of the leadership team to capitalize on the many opportunities ahead and usher in Pinterest’s next chapter of growth and success. »

Under Ready, Google had regularly updated its e-commerce tools, with a focus on improving the connection between search and purchase. Which is much the same as Pinterest’s mission – and at times it had seen the platform stepping on Google’s toes to some extent.

Which apparently sparked various replication efforts from Google, with the search giant making its visual search results more similar to Pinterest, adding a visual search tool, very similar to Pinterest Lens, and possibly limiting the Pinterest referral traffic from search results.

In its Q4 21 update, Pinterest noted that:

“In addition, the decline in search traffic (driven by Google’s algorithm change in November) negatively impacted our MAUs year-over-year. In fact, we believe that the decline in traffic research was the main reason for the sequential decline in MAUs from the third to fourth quarters in the US and international markets.

There’s no direct correlation, as such, but Pinterest apparently lost a bunch of Google traffic, which could have been Google’s way of diluting its growing presence as a search platform, which , again, enters its main territory.

Which is concerning, since Google, as a competitor in essentially the same market, has the power to withhold any advantage Pinterest might get. But now Pinterest has a deep understanding of Google’s exact plans and strategy on that front, with Ready having played a key role in that exact process since Google’s demise, which could give Pinterest a big advantage going forward. .

I mean, Google still controls search traffic and still holds a huge advantage in that regard. But Pinterest facilitates more than 5 billion searches per month, which are mostly product-based, and with Ready’s in-depth insight into how the world’s largest search platform has sought to capitalize on that, it could help Pinterest boost its platform. level.

Of course, it still needs to attract users, which has been problematic lately, and it needs to keep finding new ways to add more merchants and product listings. But the knowledge and experience Ready brings will be invaluable in moving the platform to the next stage as a discovery network.

Social commerce is the future of online retail. By 2025, Accenture estimates that social commerce will more than double to a $1.2 billion market worldwide. Following the onset of COVID-19, consumers adopted social commerce behaviors, such as discovering, shopping, and finding support directly on social media apps, at an accelerated rate. Now brands are embracing these tools to deliver a personalized customer experience on whatever platform customers prefer.

Live shopping, for example, is a powerful way for brands to educate, engage and sell to customers in an interactive live streaming event with brand representatives or influencers. The audience can comment live, ask questions, and even make purchases from links on the live stream. In 2021, the number of people who bought products at a live streaming event increased by 76% globally.

Social media platforms are innovative in meeting this growing demand for social commerce. Twitter announced a new Twitter Stores function that allows brands to display up to 50 products in their profiles. Similarly, tik tok is testing shopping features to help brands manage their e-commerce within a second TikTok app. In the future, eCommerce brands will have more tools at their disposal to sell directly on social media and deliver increasingly seamless customer experiences.

Leading brands in social commerce

As the popularity and accessibility of social commerce grows, these brands have jumped in with both feet to connect with customers where they are:

1. 
   

   charlotte tilbury

   Charlotte Tilbury delivers engaging and personalized interactions for its customers across multiple channels using the latest metaverse and live streaming technologies. The cosmetics brand was one of the first to create a digital store using virtual reality (VR). In November 2020, the brand launched a 3D digital store where shoppers can browse, shop and receive personalized recommendations from online store associates. Charlotte Tilbury also hosts live events including makeup and skincare tutorials within the digital store.

   A new feature, “Shop with friends” allows customers to invite friends and family to join a video call and browse the virtual store together. The technology, similar to that in multiplayer video games, mimics the in-person shopping experience. While in the VR store, customers can also play a game where they navigate the store to find and collect hidden keys.

   In addition to this social shopping experience, Charlotte Tilbury has live shopping events on Tik Tok. During these events, the brand partners with influencers to showcase and demo their products and even offers exclusive discounts for those who buy directly from TikTok UK.

2. 
   

   pet

   Petco uses live streaming, influencer marketing, and social shopping to deliver innovative experiences for its customers. The brand partners with Facebook to engage pet lovers and pet owners in purchasable live streaming events. Their first live shopping event combined a pet fashion show with a dog adoption campaign organized by actress and model Arielle Vandenberg. Petco and his charitable foundation donated $100,000 to the participating dog rescue organization, while also raising awareness for their pet clothing brands. The event was a huge success, reaching over 900,000 people and increasing sales to twice the cost of the event.

   Following that initial success, Petco partnered with more influencers, including Olympian Gabby Douglas, to host more live streaming events. During its live shopping events, Petco dedicated a team to engage with audience members in real time and promote relevant products on screen. Remote and on-site employees work together to provide engaging and engaging events.

   The brand has also worked with Facebook and Instagram to establish social stores directly on social media platforms. Additionally, Petco leveraged its existing influencer partnerships to launch a TikTok campaign that reached over 28 million impressions for its pet clothing brand.

3. 
   

   Australia

   KitKat introduced the first shopping experience on Facebook Live in Australia, “Live from the KitKat Chocolatory,” during the 2020 holiday shopping season. The event featured chocolatiers demonstrating new products, interacting with special guests and offering exclusive deals to the audience.

   The innovative experience included a shopping feature for live stream viewers to purchase products simply by typing in keywords. A viewer could type a prescribed keyword into the comment box, triggering a Messenger notification that includes a link to purchase the product online. Technologies like this keyword artificial intelligence (AI) tool are becoming more pervasive as social media companies experiment with new ways to shop for products directly on their platforms.

4. 
   

   zimba

   Zimba, a global brand of teeth whitening, quickly adopted the Facebook Shops platform to bring your products directly to your customers on the social media platform. With Facebook Shops, Zimba created a digital store where customers can discover and buy products without leaving the app.

   To provide seamless customer support, Zimba also allows its customers to communicate with the brand directly on Messenger and Instagram Direct Message (DM). Customers can ask product questions, get support, and track deliveries before, during, and after making a purchase on social media. As a result, Zimba achieved a 6.7% increase in the average order value of shoppers on social media compared to shoppers on its website.

5. 
   

   H&M

   H&M was one of the first clothing brands to invest in bridging the gap between social media and online shopping. The brand created its own mobile sites that would list clothing and accessories from images in their Tweets that linked directly to buying the products online. Today, the brand uses shopping on instagram to promote your latest styles right on the mobile app and link to the products featured in each post.

   The brand’s next step is to launch “Buy Live” at his H&M HOME Concept store in Kuwait’s largest mall, The Avenues. With technology powered by Go Instore, customers can access instant live consultations with store staff while browsing online. The new tool provides personalized experiences regardless of whether customers choose to shop in person or at home.

Entering social commerce

Consumer demand has forced businesses to pivot online and social commerce has become the sine qua non for brands looking to not only engage with consumers on social media, but also convert them into customers. By leveraging the power of live shopping, digital stores, shoppable ads, and social store brands can better meet customer expectations. Yet, according to a Forrester study, less than 30% of social commerce leaders prioritize customer engagement, fail to cultivate and nurture customer relationships throughout the social buying process, and put their business at risk. long-term growth of social commerce. One thing is for sure, brands that don’t embrace social commerce will now fall far behind the competition, while brands that embrace innovation will reach consumers hungry for personalized and engaging experiences.

Finding the right social commerce solution to help you do this can be overwhelming. Download the Social Commerce Solutions Buyer’s Guide to help you find the right option for your brand.

Such has been the influence of social commerce in Mexico that experts estimate that it will increase by 42% during the summer of 2022, exceeding 1,700 million dollars. In retrospect, its adoption has affected its factors: the coronavirus pandemic has increased the penetration of smartphones and the Internet among consumers.

Recent market research by Research And Markets not only confirms this information, but also add an estimate for the next six years.

More and more consumers will opt for social commerce in Mexico

Social commerce has gained considerable ground in the e-commerce industry over the last couple of years. in fact, more than half of consumers across the country have made purchases under this modality, when you spend long hours on the various platforms and are constantly tempted by brands. This is what this picture looks like in figures:

• More than 85% of those surveyed confirmed that they had purchased products or services through Facebook.
• Almost 40% did it through WhatsApp.
• A smaller percentage, 30%, has made this type of acquisition through Instagram.

It is expected, then, that the number of users in social networks will grow even more during the following years and, consequently, opting more often for social commerce. “This will boost the growth of the industry from a short and medium term perspective”reads part of the report in its entirety.

As for the Gross Merchandise Value (GMV) of social commerce in the country, it is estimated that it will increase by 1,749.5 million dollars in 2022. 11,136.7 million dollars in 2028.

Companies seek to capitalize on this growing trend in the country

Until the social trading industry has crumbled, go on the way: More and more companies and brands of Mexican origin have realized the potential of this modality and have made efforts to capitalize on it.

It is worth noting that they have approved the use of instant messaging applicationssuch as WhatsApp and other social networks, to close business transactions or promote products and services.

Other key indicators

The research included some key indicators that will guide the way of merchants who want to embrace this marketing strategy and thus stay ahead of the competition.

The categories of products and services that dominate

• Clothes and shoes.
• Beautiful and caring Personal.
• Food and groceries.
• Appliances and electronics.
• Items to improve the home.

End user segments

Devices of use that will continue to be used

• Mobile: smartphones and tablets.
• Desktop: computers and computers.

Payment methods they must have

• Credit card.
• Debit.
• Wire transfer.
• Prepaid card.
• Digital and mobile wallet.
• Staff.

“As more and more consumers bought products and services online, hope for a large influx of global investor stakeholders; including venture capital and private equity firms Over the next four to eight quarters”points to another part of the document.

Image: Freepik

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