According to the new research from PayPal, social media is now a significant eCommerce force.
The PayPal mCommerce Index 2019, revealed that an average of almost 2-in-5 or 38% sales being made are sold through social media platforms. Almost 21% of social media shoppers purchase with an average monthly spend of AU$121. There’s a clear opportunity for Australian businesses who are prepared to accept social as a sales channel since there’s 50% more consumers buying on social 27% than businesses selling on social 18%.
Social Commerce – Most Significant e-Commerce Trend
Libby Roy, PayPal Australia managing director, said, “Selling and shopping via social channels has experienced rapid growth as the line between social media and e-commerce continues to blur. The incredible amount of time people spend – especially younger people – on social media has positioned social commerce as the biggest trend we’ll see in online commerce over the next five years. 38 per cent of Generation Z social shoppers buy on social channels at least weekly, almost double the frequency of the average social shopper (21 per cent).
“The rapid rise of social commerce highlights the growing complexity of modern retail and the pressure on brands to effectively deliver omni-channel sales and marketing across all devices, applications and platforms. With Gen Y and Gen Z almost constantly connected, mainly on social channels, and on track to become the largest consumer generation, the importance of social commerce is obvious.”
Today, Australian businesses, all sizes are taking advantage of social media in promoting their businesses. 83% of surveyed businesses revealed that they are very active in social media and 23% promote themselves at least daily and almost 3-in-5 (59 per cent) promoting themselves at least once a week. Only 17 per cent of businesses do not have a social media presence.
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