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~ ChannelEngine ~

THE FUTURE IS SOCIAL:

SELLING ON SOCIAL MEDIA

PLATFORMS IN 2023

Text: Nia Lizia Carnelio // Photos: Yurim Kim

From independent creators and entrepreneurs to some of the world’s biggest brands, everyone’s
selling their products on social media platforms today. It’s no surprise why, in 2023, 4.89 billion
people are expected to use social media, and this number is only set to increase rapidly to 5.85
billion people by 2027.

hat is social commerce? A different, more organic shopping experience
Social commerce, or the act of selling products On platforms like TikTok and Instagram, celebrities and
Wand services on social media platforms, isn’t influencers routinely engage with users and encourage them
new by any means. Meta’s Facebook and Instagram, as well to purchase products they’re affiliated with. From personalised
as its competitors TikTok, Snapchat, and Pinterest, are all promo codes to individual storefronts with products linked on
platforms with built-in social commerce features. Simply put, marketplaces, social media users are presented with a plethora
along with sharing pictures and memes, people can directly of choices when it comes to shopping.
purchase products within the apps.
During the pandemic in 2020, influencers realised they could
Global sales through social media platforms are estimated better engage with their users in real time via livestreams. This
to hit $1.3 trillion in 2023, and this figure is only set to rise trend of ‘entertainment selling’ has since continued, leading
with a CAGR of 30.8%, reaching a whopping $2.9 trillion by users to shop for products that influencers recommend or use
2026. more frequently.

Whether it’s news or product recommendations, social media As Mitchell Dröge (Channel Partnerships Lead at
has become how most of us get our updates. Moreover, Gen ChannelEngine) puts it, “This style of buying is more impulsive
Z and millennials now use social media as search engines. So, – it leads to faster purchase decisions because of the natural way
when almost everything can be done on social media – why the short-form videos appear on someone’s ‘For You Page’ (FYP) or
wouldn’t a potential their main feed.”
customer want the “GLOBAL SALES THROUGH
added convenience Most of these in-
of shopping there feed videos target
SOCIAL MEDIA PLATFORMS ARE
too? the right audience
using machine
In Asian countries, ESTIMATED TO HIT $1.3 TRILLION learning algorithms.
social selling is As a result,
one of the most consumers feel more
popular ways to IN 2023.” inclined to make
buy products. purchases when
According to recent relevant products
research, nearly 9/10 online shoppers in Thailand have already that may be a good fit for them appear organically on their
purchased via social media platforms, and nearly 62% have screens.
confirmed that they checked out on the platform itself. 36%
of internet users in the US are expected to become social For instance, TikTok Shop, the shopping feature on the app
buyers, while in the UK, 54% of users have purchased from a used by billions every day, allows sellers to showcase and
brand after seeing it on TikTok. sell products directly on TikTok through in-feed videos, live

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