More and more, shoppers are turning to social media to seek out, research, and most importantly, buy products. After all, with people now spending two and a half hours on social media every day, it's only natural for this channel to become an increasingly integral part of our shopping experiences.
Accordingly, many brands are adapting to meet the needs of these next-gen shoppers. In fact, social commerce is expected to grow 28.4% every year from 2021 to 2028.
A recent Emplifi-commissioned study conducted by Forrester Consulting, Cashing In On Social Commerce, found that of the brands interviewed, social commerce strategies were three times more likely to have a revenue-first strategy than a customer-first one. Although, according to the report:
"A revenue-first approach may serve brands well in the short term, but for sustained success and growth, they need to have a holistic, customer-first strategy."
Check out the infographic below for a quick look at the current state of social commerce, and be sure to download Cashing In On Social Commerce to get the latest insights and recommendations to help you get the most from your social commerce efforts.