UK Social Buyer Audience Will Grow to 10 Million This Year
A new forecast from eMarketer predicts that the number of people in the UK buying through social media apps will increase by 13.3% this year, to 10 million, increasing to a further 14.7 million by 2023.
This esitmate is based on the idea that purchases on social media platforms will become less of an impulse buy. Instead, it will combine social media's capabilities as a research and discovery platform with enhanced e-commerce experience, allowing for consumers to gradually adapt their purchase behaviours.
With Facebook Shops released last month, Facebook Pay set to release in 2021, and Covdi-19 changing physical shopping habits, brands need to update where social media platforms sit in the conversion funnel, and harness the opportunity to create and capture demand on the same media channel.