Embracing digital commerce may be retailers’ best bet for staying ahead of a fast-moving industry
Numerous companies have partnered with us. They made digitally-driven commerce work for them, but others struggle to find success or don’t know where to begin.
Social commerce will be a major force in the future, thanks to livestreaming and big players such as Amazon, TikTok and Twitter getting into ecommerce in the metaverse.
According to GP Bullhound Global Insights, this market’s gross merchandise value is $99 billion in the U.S. by 2025. It’s also expected to grow 25% annually. Technology Predictions for 2023 report. This is compared to China’s $1.02 Trillion market, which is expected to grow at 26% per year. The market is expected to reach $3.8 trillion by 2030.
“When you know what your needs are, you search for them. But when you don’t, live commerce makes sense.” Voggt’s Kevin Loiseau
This is an area we have been following closely, especially since online shopping was banned at the start of the pandemic. Many companies are doing amazing things.
Take KahaniFor example, Jesse Pujji, the founder of the company, stated to TechCrunch that mobile e-commerce would look similar to Instagram, Snap and TikTok. KahaniThe first product to have a “Stories-like” feature so brands could show their clothes “live” rather than static images of the front or back.
This month, Amazon launched InspireA social media-inspired feature called, which offers a TikTok-like shopping experience using short-form videos as well as photo feeds.
The pandemic-induced online shopping frenzy is now over as more people venture out again. However, there are many options for digital commerce. This includes livestreaming and social media. It’s time to look at where the industry is heading, who the dominant players are, what the challenges will be and what brands will need to do to keep up.
I’m a journalist who specializes in investigative reporting and writing. I have written for the New York Times and other publications.