One out of every ten purchases today is made through social media, reflecting the decline of the traditional retail site in favor of the modern digital point of purchase, according to a new report.
Findings from the fifth State of the Connected Customer report released by customer relationship management company Salesforce, reveal that 65 percent of young Generation Z customers prefer using digital platforms to communicate with companies, up from 55 percent overall.
Companies of all sizes may now reach new audiences, grow their fan bases, and boost their online sales thanks to social media. This trend will continue to gain steam as 61 percent of dealers and consumers want to do more social media shopping over the next three years.
Additionally, the study revealed that 56 percent of customers make more purchases on social media now than they did a year ago. This change in consumer behavior emphasizes the value of social media as a growing source of customer traffic and money for online firms, as these platforms are now frequently employed as tools to boost revenues.
The report suggested that forward-thinking retail organizations should make sure to increase their social media investments in order to make sure their operations can stay up with the times.
On the other hand, the data shows that roughly 45 percent of commerce managers believe they are not yet prepared to go on the route of leveraging cutting-edge digital platforms like the Metaverse, TikTok, and modern online social marketplaces.
In reaction to the pandemic’s repercussions, many retail businesses have shifted their sales operations from conventional storefronts to online platforms.
In reaction to the pandemic’s repercussions, many retail businesses have shifted their sales operations from conventional storefronts to online platforms. This transition to the digital era paved the way for promising opportunities in e-marketing, particularly social media marketing.
The past few years have seen the growing importance of the role of social media in the retail sector.
