The Growing Impact of Social Commerce on eCommerce
Did you know that 70% of consumers are searching for products on Instagram and Facebook? Social commerce is currently on the rise and impacting eCommerce worldwide more than ever before. This article sheds light on these developments and the way you can discover the best payment providers in the U.S.
Social Commerce Growing: Best Payment Providers in the U.S.
COVID-19 has put еCommerce, B2B, B2C, and brick-and-mortar companies in a challenging situation worldwide. Because of COVID-19, 36% of consumers started making purchases over the internet, which can’t be said about the period before the virus when the percentage was only 28%. This is according to Digital Commerce 360.
Now, let’s look at the role that social media and mobile messengers are playing these days. Well, Facebook, Instagram, Whatsapp, Wechat, and Line are creators of a commercial ecosystem, which you can’t leave in ignorance at all. You should focus on using the potential offered by S-commerce. After all, this is a growing trend, which won’t leave the current state of commerce unchanged.
On the other hand, you can’t forget about conversational marketing, chat bots, and AI. These are and will be affecting the eCommerce consumer experience to an incredible extent. With that being said, you should keep your finger on the pulse and work only with a true payment expert that can help you make headway without major difficulties.
For this, you just need to turn to a true merchant-services comparison specialist that’s committed to providing the most trustworthy review of processors at the time of writing. Thanks to a reputable comparison company, you can easily find the best payment providers in the country.
Social Commerce Impacting eCommerce
Social media advertising is growing with rapid advances. Social media platforms are now critical to eCommerce: they’re a key factor in terms of advertising and customer base enlargement. Aaron Kessler, an analyst at Raymond James, notes that FB has the potential to account for almost 50% of global eCommerce.
The global social commerce market is forecast to grow by nearly 34% till the next year and increase by $2.05 trillion during 2020-2024, according to Technavio.
So, the impact of social commerce on eCommerce is undeniable. Build the right growth strategy and work only with professionals to achieve tangible results.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of the best payment providers. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.