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Social Commerce Is Finally Here

October 29, 2021

Via: CMSWire

Social media platforms have spent the last few years introducing more purchasing features in the hopes of finally bringing social commerce to fruition. Their efforts have been paying off, as nearly 80 million U.S. consumers purchased a product or service directly within a social media post in 2020, a 30% increase over 2019 according to Statista. That number is projected to grow to over 100 million by 2023.

Facebook, Instagram, Pinterest, YouTube and TikTok have all announced new commerce features or are testing them for a future launch. Features such as in-stream retail features, which allow consumers to complete a sale without leaving the experience. While primarily directed at consumer sectors, B2B marketers must consider how this revolution in retail and competition among social media platforms will play against their strategy, especially for 2022.

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