// PREDICTIVE INTELLIGENCE //

Social commerce is revolutionising the way people shop , combining the discovery-driven nature of social media with the convenience of e-commerce . For small- and medium-sized enterprises ( SMEs ), it presents a significant opportunity to engage with customers , build brand loyalty and drive revenue . As social platforms evolve into highly effective storefronts , they have already generated billions for savvy brands and are expected to grow even further . Despite its current success , social commerce still has untapped potential , particularly in the UK , making this the perfect time for SMEs to embrace this innovative sales channel . Carli Buckley , Head of Social and Multimedia , Visualsoft , explains how SMEs can make the most of social commerce .

ECENT FIGURES

UNDERSCORE the rapid growth of social commerce – quickly going from a new trend to an essential part of any retail strategy . In 2023 , the global market reached US $ 579 billion , an increase of 159 % over four years . By 2028 , it ’ s expected to surpass one trillion dollars . Generational shifts are fuelling this growth : 46 % of Gen Z and 35 % of Millennials have made purchases through social platforms , with many more discovering products on these channels . These groups are projected to account for 39 % of all retail spending by 2030 , making social commerce a crucial tool for any retailer looking to secure long-term growth . On our own platforms we ’ ve seen a rise in social shopping across TikTok with consumers spending more than 70 minutes daily on the platform and a 200 % uplift in live commerce usage .

The benefits of social commerce extend beyond immediate sales . It offers somewhat unparalleled brand visibility at a fast pace , access to analytics to inform strategy , valuable customer insights , faster engagement and social proof that enhances credibility . But it ’ s no good just making a TikTok video and hoping it goes viral . To maximise these opportunities , businesses need to approach social commerce strategically . Here are some top tips for SMEs to excel in this new era of shopping .

Invest in strong video content

Video content is at the heart of social commerce . It ’ s an engaging , memorable way to showcase your products and

Consistency and authenticity are key to success . Share videos that demonstrate your products

VIDEO CONTENT IS AT THE HEART OF SOCIAL COMMERCE . IT ’ S AN ENGAGING , MEMORABLE WAY TO SHOWCASE YOUR PRODUCTS AND BRAND PERSONALITY .

Intelligent SME . tech

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