March 9, 2017Social networks generated $50 billion in online sales globally in 2016, up from $30 billion in 2015, according to digital marketing firm Mindshift Interactive. The Mumbai-based company said its research shows 60 percent of marketers believe social commerce will be one of the fastest-growing e-commerce trends in 2017 as in-app shopping continues to grow quickly. Mindhift’s CEO Zafar Rais said the more visual sites, like Instagram and Pinterest are leading the way. Average order value of purchases made on Instagram ($65) and Pinterest ($59) are higher than Facebook ($55) for this reason. “Social media marketing can help brands target buyers in a more personal manner,” Rais said. “Professionals who embrace platforms like Pinterest and Instagram create media that translates into actual sales. The social shopping experience is set to become bigger and better due to the burgeoning number of social media users, easy ways to initiate purchases from brand pages, and users having the option to get instant purchase suggestions from their friends.”
Learn more about this topic at these CNP Expo Education Sessions in Orlando, FL from May 22-25, 2017.
- Working With Customer Service
- When Marketing Meets Payments: What to consider when your marketing department suggests adding a new payment method