Social live commerce is a type of e-commerce that takes place on social media platforms. It allows businesses to sell products and services to consumers in real time. This type of commerce has been growing in popularity in recent years, and it is expected to continue to grow in the years to come. Shopee Live, Lazada Live, and more recently TikTok Shops have driven the popularity across Southeast Asia.
There are a number of reasons for the growth of social live commerce. One reason is that social media platforms have made it easier for businesses to sell products and services. Platforms like Facebook, Instagram, and TikTok have all rolled out features that make it easier for businesses to create and sell products through their platforms.
Another reason for the growth of social live commerce is that consumers are increasingly comfortable making purchases online. According to a recent study, 72% of consumers have made a purchase online in the past year. This number is expected to continue to grow in the years to come.
Social live commerce offers a number of benefits for both businesses and consumers. For businesses, social live commerce can help to increase sales, reach a wider audience, and build relationships with customers. For consumers, social live commerce can make it easier to find and purchase products and services, compare prices, and read reviews.
Observing some of the key trends in social live commerce:
- The rise of live shopping: Live shopping is a type of social live commerce that allows businesses to sell products and services to consumers in real time through live video streams. Live shopping has been growing in popularity in China, and it is expected to gain traction in other parts of the world.
- The growth of social commerce influencers: Social commerce influencers are people who have a large following on social media and who promote products and services to their followers. Social commerce influencers can be a valuable asset for businesses that are looking to reach a wider audience.
- The development of new technologies: New technologies, such as augmented reality (AR) and virtual reality (VR), are being developed that can be used to enhance the social live commerce experience. AR and VR can allow consumers to try on clothes, test out products, and explore virtual stores before making a purchase.
The state of social live commerce is constantly evolving. As new technologies and trends emerge, social live commerce is likely to continue to grow in popularity in the years to come.