Shoppable content is the way of the future #STCDeepDive
In the last several years, online shopping and e-commerce have been highlighted as notable industries with rapid growth. But during the height of COVID-19, online shopping exploded. Social media platforms have seen this growth and harnessed it for themselves; shoppable content through Facebook, Instagram, TikTok and others is on the rise.
As social media platforms expand their shopping features to keep up with e-commerce trends and growing demand, platform-specific shoppable features and live streams pose a huge opportunity for brands to test out with creators. According to Mavrck’s survey of 719 creators, just 17% of them currently rake in revenue from shoppable content and digital marketplaces. But that number is poised to grow – fast.
Facebook’s a proud parent
While Instagram has been in the online shopping world since July 2020, new features like Facebook Pay at checkout (and retired features like “swipe up to shop”) are making the platform more shop-viable and change-driven. It’s also testing out ads in the Shop tab and allowing tagging in the Reels feature with hopes that it will drive more sales and connect creators with their audiences for increased revenue.
Instagram has been driving e-commerce sales amongst social platforms behind its parent company, Facebook, the latter of which leads in sales across all social platforms with $80 billion in sales revenues – which includes shoppable content in partnership with Shopify along with plenty of advertising gains. Instagram and Facebook have both been the driving force behind shoppable live streams are among the most popular platforms to conduct them.
Everything’s coming up TikTok
Although TikTok’s current e-commerce capabilities are not yet at Instagram and Facebook’s level, the platform proves to be an effective channel for shopping. As a result of organic user-generated content and viral sponsored content, brands such as Aerie, Oceanspray and Esos have experienced an increase in sales. With the combination of engaging short-form video content and TikTok’s powerful algorithm, many brands benefit from increased product discovery, resulting in online and in-store purchases. Plus, a new partnership with Shopify that enhances the shopping experience through in-app purchases is predicted to elevate TikTok as a fierce e-commerce competitor.
Live stream for the $$
There are opportunities for creators to capitalize on shoppable live streams with their favorite brand partners. Based on Mavrck’s recent survey of 631 creators, 72% of respondents have not yet done a shoppable live stream before but they are interested in doing so. Out of this group, 70% are within the 25-44 age demographic and are women.
In addition, 52% of this particular group have Lifestyle or Fashion as their top content category and 60% have 5k – 25k followers. Brands within the Lifestyle and Fashion verticals focusing on younger women as their influencer personas should consider activating micro-influencers to generate shoppable live stream content.
Big, big plans
Shoppable content is poised to take e-commerce by storm as it grows and becomes more functional, user-friendly and intuitive. In 2021 alone, it’s poised to generate over $36 billion in sales in the United States.
Content creators are at the forefront of this new wave of e-commerce partnering and are partnering with brands that are seeking a more personal shopping experience that generates big sales. Industries are getting more creative, like food creators partnered with Walmart that point to local stores with ready-made shopping lists to make weeknight meals more organized and accessible – and that’s just the beginning.
It’s clear that shoppable content isn’t just about making the sale – it’s about a simplified, trustworthy shopping experience that takes the guesswork out of the equation. And with TikTok, Instagram, Facebook and many more honing their algorithms, it’s becoming easier than ever for people to find the products they want – and for brands to meet them there.
What brands can do:
- Don’t be afraid of shoppable content. People are comfortable shopping on social media!
- Get involved in shoppable content by partnering with niche micro-influencers and nano-influencers
- Use shoppable content to drive inspiration and FOMO with your creator’s audience
- Test out shoppable live streams with your creators starting with Instagram Live before delving into Facebook Live and TikTok streaming
- Shoppable content is changing every day – so don’t be afraid to change up your strategy as you learn the ebbs and flows