By 2021, the global social commerce market size will increase by approximately 34%, with online sales exceeding $735 billion by 2023. In the last two years, social media referral traffic to online stores has increased by more than 100%, and video blogs are becoming the most sought-after channels for product marketing.
Livestreamers of 2020 can sell anything. For instance, Huang Wei, dubbed “the world’s livestream queen” by Bloomberg, sold a rocket launch for $5.6 million. Real estate and cars are also not a problem. The 34-year-old’s most successful online shopping stream attracted an audience of more than 37 million people — more than the NBA finals or the Oscars ceremony.
People like shopping from their couches while watching reviews from the influencers they trust. Tech and retail giants are taking note.
WeChat, China’s most popular messaging app with over a billion users, is introducing a new tool — WeChat Minishop. It will allow merchants to build virtual shops that support livestreaming within WeChat. It will also provide order management services, transaction, logistics and after-sales support.
Amazon is investing in its social commerce branch as well. The retail juggernaut
is adding livestreaming to its existing Amazon Influencer Program, which allows influencers to earn money by getting fans to buy their Amazon picks through Facebook, Twitter, Instagram and YouTube.
The new live-streaming option will be available directly on Amazon’s shopping site. To broadcast to Amazon Live, influencers will need to use the Amazon Live Creator app to livestream and chat with viewers as they review and recommend products.
Cappasity now also has a tool that is perfect for social commerce — the 3DShot app.
With the 3DShot app, you can create a 3D View of your product and share a link with an influencer to get a 3D Review. Once you send a link to the 3D View of the product, the blogger can record a 3D Review and share it with their followers. 3D Reviews can also be used to sell products on eBay, Amazon, or any other marketplace or website that allows you to post videos.
“We expect the 3DShot app to become a headliner for virtual product reviews, simplifying influencer marketing for brands and bloggers alike,” says Kosta Popov, CEO of Cappasity. “It also contributes to sustainability by converting physical products to virtual form and reducing the use of resources that typically comes with global marketing campaigns.”
3DShot 3D Review — sustainable product review.
Opportunities in social commerce are vast. Brands can generate profits from the orders made from social media networks, receive immediate feedback, get a clearer picture of target audience expectations, and take advantage of the power of influencers. To do that, they need only choose the correct tool.
The official release of the 3DShot app is scheduled for November 2020. Right now, you can visit the website of the app and take part in the beta testing.