Page 12 - The Ultilmate Guide to Retail in 2023
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Social commerce:
In just 12 hours, two of China’s best-known live-
streamers, Li Jiaqi and Huang Wei (better known
as Lipstick King and Viya respectively), managed
to raise $3 billion worth of sales on Taobao, one
of Alibaba’s eCommerce platforms. This sort of “You can use social media to
figure demonstrates the power of social commerce turn strangers into friends,
- selling directly through social media platforms.
eCommerce is migrating to social networks, driven friends into customers, and
by an opportunity to engage with the audience in an customers into salespeople.”
interactive way.
Social commerce is becoming a hot topic the world Seth Godin / US entrepreneur, author, and
over. Studies show that the US social commerce marketing guru.
market skyrocketed by almost 38% to $26.77 billion
in 2020 and is expected to reach $80 billion annually
by 2025. Globally, 97% of Gen Z consumers use social
media as their top source of shopping inspiration.
You can read more about this trend in our social
commerce e-book.
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