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The Future of Social Commerce: New Data for 2021 & BeyondDownload Data Report
With much of the world in lockdown during 2020, businesses leveraged social media to maintain and nurture their connections with consumers.
But social proved to be more than a communication channel. According to recent data from The Harris Poll, social commerce is on the rise. As consumers continue to buy products while browsing social networks, executives are recognizing just how powerful social media can be in driving business with this new revenue stream.
The Harris Poll, on behalf of Sprout Social, surveyed more than 1,000 US consumers and 250 business leaders to better understand how they use social media. From consumers wanting more personalized social experiences to businesses increasingly moving their e-commerce to social, organizations are doubling down on social media following a year of accelerated transformation.
The findings include:
- 90% of businesses believe that creating interactive social media experiences for their customers is critical to success.
- 1 in 3 consumers will use social media to learn about or find new products, brands or services
- 91% of executives anticipate their company’s social media marketing budget will increase over the next three years, and the majority expect it will increase by more than 50%.
- Eight in 10 businesses anticipate selling products or services via social media commerce platforms in the next three years, especially enterprise businesses
Don’t risk your business being left behind in the next wave of digital transformation. Download our report for the social commerce data and insights your business needs in this increasingly social consumer environment.
80% of consumers agree brand awareness makes them more likely to buy on socialPublished on November 29, 2021 Reading time 5 minutes