The 2019 Social Shopping Revolution
Peer-to-peer (P2P) social marketplaces are already transforming a number of key industries, yet the e-commerce sphere remains virtually untouched despite the limitless potential it could have on the shopping experience. Recent years have seen the development of travel P2P marketplaces (such as AirBnB), monetary P2P marketplaces (such as Bitcoin), and work and services P2P marketplaces (such as Uber), but where is the shopping P2P marketplace?
Recent attempts to embrace social shopping by the large social networking sites have simply failed: Facebook and Twitter phased out their buy button, for instance. Amazon is a hugely successful ecommerce website, but lacks social friendliness. And other attempts to combine social features with commerce features are often clumsy and lack thought, which has a significant impact on the conversion rate for sellers on those platforms.
Why will 2019 be different?
As Dale Turner once said, “the errors of the past is the wisdom and success of the future”. The failed attempts to spark a social shopping revolution in the last five years have provided us with a lot of useful information as to what is necessary from success. By learning from what hasn’t worked and bringing together what does work, we are now able to successfully construct a platform that is enjoyed by both buyers and sellers.
We now understand what social shopping means
The issue, until now, has largely been due to the uncertainty surrounding the definition of social commerce. The phrase has largely – but erroneously - been defined as a situation where sellers sell their products on social media. For example, webopedia.com says social shopping “refers to consumers who use social networking services and sites to share their latest purchases, deals… and other shopping finds”, including on Facebook, Twitter, and other social networking services.
However, this definition cannot be true when the conversion rate on traditional social networking sites is less than 1 percent despite being an impressive driver of traffic. (http://www.adweek.com/digital/john-stevens-hostingfacts-reviews-guest-post-4-tips-for-building-a-social-media-conversion-strategy/). People simply do not use these platforms to buy products; they are there for social reasons. If social shopping is to work there needs to be a dedicate platform that incorporates social features and commerce features from the start. Social shopping can, therefore, more adequately be defined as a peer-to-peer online marketplace that seamlessly integrates curated, purchasable, products within a social setting that enhances the shopping experience for users and stores.
People are now ready to embrace social shopping
Traditional means of shopping online, where people hop from site to site to purchase products, has experienced a rapid escalation in popularity. People trust online retailers, can easily find reviews of products, and can clearly see what they are buying. Thankfully, we are beginning to see the rise of platforms that bring these traditional advantages into one place. Social shopping will let buyers purchase from trusted sellers, compare prices of products in one place, see product reviews under every product using a comment-based review system, and more-easily browse a beautifully designed ‘shop window’ all in one place. This will not only save shoppers time when purchasing products, but they will have more fun while doing it. For sellers, conversion rates will increase tenfold as the users scrolling through their products are actively looking to buy.
An exciting shopping experience
When browsing commerce platforms like Facebook Marketplace, eBay, and Amazon, the products are dull and lack originality. Other times, the social commerce experience lacks product variety and, therefore, people do not tend to discover products that excite them or entice them to buy. Unfortunately, it is often easier to use traditional search engines to find products, as browsing on social shopping platforms is both cluttered and unfocused. It is clear, then, that people want a platform that provides a simple search mechanism that returns psychologically pleasing search results and a more focused method of product discovery. This will offer a more streamlined shopping experience and help keep buyers happy and drive sales for ecommerce businesses.
Impulse is a fast-paced, eclectic, and downright beautiful community platform for shoppers, re-defining our social interactions with products, stores and other shoppers online. Impulse is the perfect blend that hopes to spur the revolution and accelerate us towards a new generation of eCommerce. The Impulse gap is a true social driven platform that combines the very best parts of social media with the best commerce features from the very start. The platform is diverse, fast-paced, and secure and purpose built for the job. Check it out and let us know what you think.