Before going to bed, Elly, an American girl, was scrolling through Instagram in bed, unaware that she was attracted by a fashion blogger’s OOTD (Outfit of the Day). After planting the dress in the post, she decisively followed the blogger’s recommendation link and completed her order at a Chinese women’s clothing brand independent website.
This is an image that happens every day on the Internet. According to research 樂天集運, the growth rate of global social e-commerce will be three times that of traditional e-commerce by 2025, reaching $1.2 trillion. Undoubtedly, social e-commerce is reshaping the consumption concept of global users, or also for cross-border e-commerce development to inject a lot of new opportunities.
Planting trees like crazy! Social e-commerce continues to heat up
From the market segmentation point of view, according to ResearchandMarkets analysis, by 2022, the social e-commerce market in the United States is estimated at $66 billion. The size of social e-commerce in Japan and Canada is expected to grow by 23.2% and 24.6% each from 2022-2026. [1] In addition, emerging markets such as Southeast Asia and Latin America, social e-commerce is also growing rapidly.
According to a report by research firm Bazaarvoice in February this year, 3/4 of the 14,000 people surveyed indicated that their current shopping behavior was influenced by social networks. For example, 65% would be planted in a visit session, 61% would shop for occasional swiped items, and 60% would shop based on algorithmic recommendations or connections given by online celebrities [2]. As social commerce explodes globally, discussions around concepts such as social media marketing and immersive shopping are shedding new light on cross-border e-commerce shoppers.
Why is social e-commerce so hot?
From the approach itself, the whole process is based on the social 樂天JAPAN to share, discuss and other social elements into the e-commerce. With “people” as the core, drive content output and product development, let “goods” play the role of value delivery, according to social networks, to establish a “field” that can effectively spread brand value. Based on the brand + celebrity quality content to enhance customer decision-making. E-commerce with social genes has reconstructed the layout of “people, goods, and fields”, which makes it easier to deposit private traffic for efficient conversion.
In terms of consumption power, Generation Z (people born in 1997-2010) is樂天集運 of social e-commerce consumers. As the aborigines of the digital age, Generation Z is not only large in number, but also “self-conscious” and willing to pay high prices for their favorite products. According to a Forbes 2021 survey, 97% of Gen Z customers indicate that they now use social networks as a source of shopping inspiration, with the #tiktokmademebuyit hashtag having over 2.3 billion visits on TikTok, for example [3]. Generation Z, which is highly dependent on social networks, and its strong spending power turned out to be the key driver of the social e-commerce boom.
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