The future of e-commerce will depend on shopping on social networks

The buy through social networks it is going to be more and more present in our society, especially among younger people. This is one of the most outstanding conclusions of the event organized by Making Science, “Social Commerce & Marketplaces: A new horizon for Black Friday” in which the main players of social networks and marketplaces have shared their vision of new forms of e-commerce and how Black Friday is influenced by this and by new consumption habits.

In the words of José Antonio Martínez Aguilar, CEO of Making Science, “Interesting milestones are taking place thanks to the change in consumer habits. A new wave of new consumers is arriving, such as Generation Z, who are accompanied by new platforms that adapt to new ways of understanding consumption »: According to the IAB, 81% of online buyers search and formalize the purchase through this channel. On average, it is bought online 3.8 times a month and each purchase has an average cost of 89 euros, 21 euros more than in 2020.

Social commerce

This trend reinforces the growing use of new types of marketplace, among which social commerce stands out. This new type of electronic commerce goes far beyond the mere sale through social networks, since it generates a immediate purchase opportunity, by simplifying processes.

Convenience, supply and price are still the most important drivers of online shopping, although they continue to increase motivational elements as the recommendations. According to Reyes Justribó, general director of IAB Spain, “56% of online users pay attention to purchase recommendations, reaching 92% in users between 16 and 24 years old.”

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This increased interest in recommendations can be seen in the new shopping formats through social networks, with an adoption rate of more than 20% among Internet users in Spain. The IAB explains that the use of social networks at a commercial level has grown by nine percentage points, with Facebook and Instagram as the main platforms, followed by WhatsApp, YouTube and Twitter, but remember that the brand website is still the main source of information before to buy.

Spanish consumers are adopting new consumption habits that are reflected in discount periods such as Black Friday. Those companies that have digital maturity and a good digital channel strategy will undoubtedly see an increase in the profit margin in these periods.

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