The report emphasizes that social networks are withdrawing their social trading plans. The successive social commerce moves of social networks in early 2022 made it seem like social commerce would be the next biggest thing for 2022 after e-commerce. However, the process did not proceed that way. Meta has decided to shut down the live commerce functionality on Facebook and the affiliate product tagging option on Instagram. TikTok has delayed the launch of live shopping by shrinking its e-commerce plans. While almost every major network has withdrawn its social commerce plans, the promising Social networks are visited by more people future of social shopping looks further away than anticipated.
Confidence Gap in Social Commerce
Still, social commerce is still a good opportunity for leading brands. Especially if they can overcome the consumer’s trust barrier. Consumers say trust is the biggest barrier to buying on social media.
According to an Accenture survey of more than 10,000 consumers, the biggest concern for buyers on social Estonia Phone Number List media is that the products they purchase are not protected or refunded. They also worry about the quality and authenticity of products and sellers on social media. And the third most common concern stems from the reliance on social networks themselves; people say they don’t want to share their financial information with networks.
Will the Rise of Social Search Overthrow Google?
Google has been the go-to place for searches until now, but that is changing. Today, Google is facing a new competition with social networks.
Especially the younger generations go to platforms such as TikTok and Text Services Instagram to find where to go for dinner, follow the trends and research the sweater they will buy. She is doing her research on Instagram for her vacation.
