Over the course of the pandemic, ecommerce enabled companies to make shopping more efficient for consumers by providing direct links to buying products, saving time and effort. Increased social media use led marketers to take advantage of social media advertising to drive sales. The ecommerce landscape has begun to expand into social commerce which is when sales are facilitated by social media. Platforms like Facebook, Twitter, TikTok, Instagram, Etsy, Pinterest, and WeChat have started to grow their networks with the addition of social commerce.
The following are some social commerce trends for 2023:
- 5G connectivity will deliver more immersive experiences for consumers
- Digital avatars will play a key role in the fashion industry
- Increased demand for NFT use due to Metaverse popularity
- Growing brands through micro-influencers and creation of user-generated content
- Increased ad budgets and the use of first-party data
- New AI, ML, and AR technologies