Top Social Commerce Trends for Futurist

Social commerce trends are driving e-commerce to undergo a significant transformation due to various technological and social factors. In this article, we’ll explore the future of e-commerce and discuss 9 trends that will shape the industry by 2030. From augmented reality shopping experiences to the rise of emerging markets, these trends will redefine the way we shop online.

As businesses adapt to stay competitive in the ever-changing landscape of e-commerce, they must keep a close eye on the evolving social commerce trends. The future of online shopping will be greatly influenced by the continued evolution of social commerce trends.

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1. Augmented Reality Shopping Will Become Commonplace

Augmented reality (AR) is poised to revolutionize the e-commerce industry by providing customers with immersive, in-person shopping experiences. With AR technology, shoppers can visualize how a product might look on them or in their home, simply by pointing their mobile device at the desired location. This interactive 360-degree experience allows customers to view products from every angle, giving them a better understanding of the value the product offers.

Smartphones, smart glasses, and other handheld and wearable devices will be the primary tools for delivering these AR experiences. Platforms like Shopify AR already enable customers to view products in natural environments before making a purchase, ensuring that the product is suitable for its intended purpose. By facilitating informed decision-making, AR will help customers quickly choose the right brand to buy from.

Interestingly, augmented reality is expected to outpace virtual reality in terms of adoption and market size. According to Grand View Research, while the global virtual reality market will be worth $67 billion in 2028, the augmented reality global market will reach a staggering $340 billion in the same year. This means that the AR market will likely be five times larger than the VR market, highlighting the immense potential of augmented reality in the e-commerce sector. As social commerce trends lean towards more interactive and engaging shopping experiences, AR will undoubtedly play a crucial role in shaping the future of online retail.

2. AI Assistants Will Become More Sophisticated and Widespread

In the coming years, most people in developed countries will likely have access to AI assistants that enhance their quality of life. According to Peter Diamandis, founder of Singular University, services like Alexa, Google Home, and Apple HomePod will expand their functionality beyond the home, becoming 24/7 cognitive prosthetics.

Depending on the permissions granted by users, these secure JARVIS-like AI assistants could listen to conversations, read emails, monitor blood chemistry, and more. By analyzing this wealth of data, AI-enabled software will learn user preferences, anticipate needs and behaviors, shop on behalf of users, monitor health, and assist in problem-solving to support mid- and long-term goals.

Moreover, Ray Kurzweil predicts that by the mid-2030s, we will begin using brain-computer interfaces to connect directly to the human neocortex. This development will allow us to interact with AI assistants using our thoughts, elevating the technology to an entirely new level. As AI assistants become more sophisticated and integrated into our daily lives, they will undoubtedly influence social commerce trends and the way we approach online shopping.

3. Cryptocurrencies May Become Widely Accepted Payment Methods

To appeal to a broader consumer base, particularly Generation Z and Millennials, brands will need to accept a wide range of payment options. As the price fluctuations of cryptocurrencies stabilize over the next decade, they will become more attractive payment options for large companies like Amazon and payment processing giants like PayPal.

Most cryptocurrencies rely on blockchain technology to record transactions. Blockchain is essentially a shared database that enables multiple parties to access and verify data in real-time. The inherent security features of blockchains make it difficult or impossible to change, hack, or cheat the system.

Grand View Research projects that the global blockchain technology market will grow from $6 billion in 2021 to an astonishing $395 billion in 2028 – a 65-fold increase in just a few years. As the use of blockchain technology becomes more widespread, industries will gain greater familiarity with cryptocurrencies, paving the way for their acceptance as mainstream payment methods. This shift will undoubtedly impact social commerce trends, as businesses adapt to the changing preferences of their customers.

4. Autonomous Delivery Drones Could Revolutionize Shipping

Delivery drones have the potential to automate and streamline shipping processes for various volumes without human intervention. The advantages of automated shipping for e-commerce are numerous, including:

• Faster delivery times
• Reduced freight costs
• Decreased accidents and human error
• Lower CO2 emissions
• Improved customer satisfaction

Amazon Prime Air, for example, aims to deliver packages weighing up to 5 pounds within 30 minutes or less using small drones. The company has been developing and testing the platform through Prime Air development centers in the U.S., the U.K., Austria, France, and Israel. In August 2020, Amazon received approval from the FAA to operate its Prime Air delivery drones to safely and efficiently deliver packages to customers.

Similarly, UPS Flight Forward became the first company to obtain full certification from the U.S. government to operate a drone airline. In 2020, UPS Flight Forward partnered with CVS to deliver prescription medicines from a CVS pharmacy to The Villages, Florida – the largest retirement community in the U.S.

As autonomous delivery drones become more commonplace, they will significantly impact social commerce trends by providing faster, more efficient, and eco-friendly shipping options to customers.

5. Virtual Reality Will Become an Integral Part of Marketing Strategies

Virtual reality (VR) devices will enable consumers to view products from any angle and see them in action within virtual environments. With VR, users can quickly switch between different products and view them in various contexts, providing a more comprehensive understanding of the product’s features and benefits.

VR is expected to transform multiple industries, including education, social media, video games, and entertainment. As businesses incorporate VR into their marketing strategies, they will be able to create more engaging and immersive experiences for their customers, ultimately influencing their purchasing decisions.

As social commerce trends evolve, VR will likely play a significant role in shaping the way brands interact with their target audience and showcase their products in innovative ways.

6. In-App Purchases on Social Media Platforms Will Be Commonplace

Social media platforms like Facebook and Instagram have made it easier than ever for consumers to purchase products without leaving the app. Facebook Shops allows businesses to set up virtual storefronts where people can browse and buy products directly on Facebook. Brands like ThreadBeast are already taking advantage of these social media storefronts to increase their sales.

Similarly, Instagram’s Shoppable posts feature enables brands to add products to their posts, allowing for seamless checkout within the app. Pinterest also offers a Buyable Pins feature, which lets shoppers purchase products directly on the platform.

These tools are perfect for companies looking to boost sales, as 54% of social media users research products using social media. By simplifying and shortening the customer journey, these features reduce the likelihood of abandoned transactions.

As social commerce trends continue to evolve, in-app purchases on social media platforms will become increasingly common, providing businesses with new opportunities to reach and engage with their target audience.

7. Emerging Markets Will Play a Significant Role in E-commerce Growth

In July 2021, there were more than 4.8 billion internet users worldwide, representing 63 percent of the global population. Cybersecurity Ventures predicts that by 2030, there will be 7.5 billion internet users – approximately 90 percent of the projected world population of 8.5 billion.

A significant portion of these new internet users will come from emerging markets such as India, China, Brazil, Russia, and South Africa. This growth could lead to an additional 2.7 billion potential consumers online, presenting a massive opportunity for e-commerce companies of all sizes to increase their profits.

As internet penetration in emerging markets continues to rise, social commerce trends will likely adapt to cater to the unique preferences and needs of these new consumer groups, driving further innovation in the e-commerce industry.

8. Voice Commerce Will Gain Popularity

Voice commerce is expected to surpass $40 billion in the U.S. by 2022. Although the global smart speaker market is growing rapidly, the majority of voice activity takes place on mobile devices through virtual assistants. Consumers frequently use voice search features on search engines like Google and Bing to find products.

As voice searches typically take the form of questions, the page rankings of various websites and web pages could be significantly affected over time. Businesses will need to optimize their content for voice search to ensure they remain visible and accessible to consumers.

As social commerce trends shift towards more conversational and intuitive interfaces, voice commerce will likely become an increasingly important channel for businesses to engage with their customers and drive sales.

9. Video Product Descriptions Will Become More Prevalent

Studies conducted by Social Media Today reveal that 60% of shoppers prefer watching a product video over reading a product description. Additionally, 64% of shoppers are more likely to purchase a product after viewing branded videos on social media. These findings demonstrate that shoppers crave more interactive experiences when making a purchase to better understand the value being offered.

Video is an ideal format for providing product demonstrations and leveraging the influence of internet personalities. As more businesses recognize the power of video in driving sales, the use of video product descriptions will become increasingly common throughout the e-commerce space.

As social commerce trends continue to emphasize the importance of engaging and informative content, businesses that embrace video product descriptions will be better positioned to capture the attention and loyalty of their target audience.

Conclusion

The future of e-commerce is set to be shaped by a wide range of technological and social factors, from the rise of augmented reality shopping experiences to the growing importance of emerging markets. As businesses navigate this evolving landscape, staying attuned to social commerce trends will be crucial for success.

By embracing innovations like AI assistants, cryptocurrencies, and autonomous delivery drones, while also adapting to changing consumer preferences for in-app purchases, voice commerce, and video product descriptions, e-commerce companies can position themselves for growth and success in the years to come.

As we look ahead to 2030, it’s clear that the e-commerce industry will continue to evolve and transform, presenting both challenges and opportunities for businesses of all sizes. By staying agile, innovative, and customer-centric, companies can thrive in this dynamic and exciting future.

FAQs:

What is the social commerce trend in 2024?

In 2024, the social commerce trend is expected to focus on seamless integration of e-commerce features within social media platforms. This includes the widespread adoption of in-app purchases, shoppable posts, and the use of augmented reality and virtual reality to create immersive shopping experiences. Brands will continue to leverage the power of influencer marketing and user-generated content to drive sales and engagement on social media.

What is the future of social commerce?

The future of social commerce looks bright, with experts predicting significant growth and innovation in the coming years. As technology advances and consumer behavior evolves, social commerce will likely become an increasingly important channel for businesses to connect with their target audience and drive sales. Some key trends to watch include the rise of live streaming commerce, the integration of AI and machine learning to personalize the shopping experience, and the growing importance of social proof and community-driven commerce.

What is the meaning of social commerce?

Social commerce refers to the integration of e-commerce features and functionality within social media platforms, allowing users to discover, research, and purchase products without leaving the app. This can include features like shoppable posts, in-app checkout, and product recommendations based on user behavior and preferences. Social commerce leverages the power of social networks to drive sales and engagement, blurring the lines between social media and traditional e-commerce.

Is TikTok a social commerce?

Yes, TikTok is increasingly becoming a social commerce platform. In recent years, the app has introduced a range of e-commerce features, including shoppable videos, product links, and partnerships with e-commerce platforms like Shopify. TikTok’s unique blend of short-form video content and engaged user base makes it an attractive platform for brands looking to reach younger audiences and drive sales through creative, authentic content. As TikTok continues to invest in social commerce capabilities, it is poised to become a major player in the space.

We strongly recommend that you check out our guide on how to take advantage of AI in today’s passive income economy.