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Ecommerce

MindShift Interactive estimates 50 USD bln sale through social media in 2016

Tuesday 7 March 2017 | 12:45 PM CET

MindShift Interactive has estimated that around USD 50 billion sale was generated in 2016 using social networks with an increase of USD 20 billion from 2015.

More than 60% of marketers believe that social commerce will be the fastest growing trend in 2017. Social networks like Facebook, Twitter, Instagram and Pinterest have introduced different ecommerce features to help their users take advantage of this trend.

Social networks have been competing to encourage small businesses. Roposo sees branding / advertising on its platform as another source of revenue. Fashion and lifestyle brands look more towards advertising on such platforms considering the kind of target audience each of these platforms attract.

With the expansion of in-app shopping, social ecommerce is bound to increase in 2017. In 2016, Facebook announced plans to make purchases through Facebook Messenger. According to Statista, the average per order value for Instagram (USD 65) and Pinterest (USD 58.95) is higher than the average per order value of Facebook (USD 55). This is because both Pinterest and Instagram are primarily visual-based social networks.

Social media marketing can help brands target buyers in a more personal manner. Professionals who embrace platforms like Pinterest and Instagram create media that translates into actual sales. Past data and trends suggest that social media will play a key role in 2017.

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