Led by Facebook, social media platforms from Alphabet YouTube to Spain Inc. and Twitter are investing heavily in market capitalization to stimulate revenue growth in the second quarter of last week.
The companies are vying for a piece of the so-called social marketing industry based on their ability to acquire and purchase products through social media applications. By 2023, annual sales in the United States are expected to reach $ 36 billion to $ 50 billion. States according to research company eMarketer.
The success of a social business depends in part on the needs of the consumer, and sales generate additional information that can be used for future advertising and product placement.
Facebook, which is widely regarded as a leader in the social business, and Google helped retailers to bring in sales in the last quarter, while ecommerce player shopping has seen a steady increase in the number of products sold on the two technology companies’ platforms. The merchants themselves.
Facebook CEO Mark Zuckerberg said it is a “real long-term bet” to enable business activation and make it easier for businesses to communicate with customers through courier and WhatsApp applications.
Retailers are on the rise as COVID-19 restrictions weigh on brick and mortar sales.
From luxury fashion house Burberry (BRBY.L) to fast fashion giant HMT, subscribe to celebrities and influencers to “buy it from scratch” by subscribing to low profile stories or posts.
While the business is small for now, social media giants are looking at information from users’ shopping and browsing experience for targeted advertising.
Crowd of user data has become even more important, as recent changes to Apple Inc. (AAPL.O) limit the ability to track iPhone users and serve personalized ads.
The future of marketing?
As the epidemic intensified, Facebook launched stores in May 2020, attracting products on Facebook and Instagram and making it easier for consumers to sell up-to-date clothing or furniture in a tailored and personalized way.
Linn According to a June 2020 survey by Emarmarter, Facebook was the largest social media platform, with 18% of respondents buying a product through Facebook. That’s 11% for Facebook-owned Instagram and 3% for Pinterest.
Even when restrictions are lifted, analysts say there is little chance of a return to online shopping.
“People are accustomed to shopping online,” says Edward Jones, analyst Dave Heger. I don’t think they’ll go back to where they were when they bought bricks and mortar stores.
Snap Inc is investing in improved reality technology to help consumers try on items such as watches, jewelry and other clothing to reduce the main problem faced by online retailers.
Snapchat executives Evan Spiegel said last week during a conference call at the company’s revenue conference that Snapchat users can take a photo of a friend’s outfit with the app and get similar features or product recommendations.
Rich Greenfield, a partner of LightShed, wrote in a Snap post last week:
“While these initiatives are still in their infancy, we believe that an ever-increasing number of brands want to connect with the business community.
The popular short form video app TikTok allows viewers to purchase clothing as an influence model in real time by attempting to buy live streams of selected brands in the UK.
Following the breaking news or current events, Twitter, which is known for its breaking news, said on Wednesday it will launch a shopping feature that allows users to browse items for sale at the top of a brand page. Read more
YouTube CEO Philip Schindler said in a letter on Tuesday that YouTube, which is known for its “in-box” videos where YouTube is reviewing toys or technology devices, wants to integrate streaming streaming into the platform.
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