Over the next 10 years, digital marketing spend is to grow six-fold to US$300bn annually, according to some estimates, and half of that growth will be attributed to social commerce—a somewhat nascent, often misunderstood economy.
Social commerce, the idea of combining social media with online shopping, had its fledgling beginnings in 2007, with the launch of Facebook “gifts,” and entered just about everyone’s radar with the spectacular rise of Groupon in 2010.
Some of the world’s biggest companies, like Coca-Cola and Walt Disney are using Facebook as a platform to sell their products. Mark Zuckerberg himself said: “If I had to guess, social commerce is the next area to really blow up.”
If your brand is wondering how it fits into the social commerce equation, and more importantly, how to get a slice of the pie, have a look at this infographic put together by Useful Social Media. They’ve detailed the history of the industry and gives some great examples of how big-name brands have used social commerce to attract and sustain new customers.