- Five minutes read
Social media commerce: The new Black Friday battleground
Social media is no longer simply a place to connect with friends – it's a bustling marketplace. Here, we consider the opportunity presented by social media commerce this festive season.
Social media commerce – the selling of products and services directly through social media platforms – is transforming how we shop.
With the average person spending more than two hours daily on social media, platforms like Facebook, Instagram, and TikTok are crucial channels for businesses to reach customers and drive sales. As the Christmas shopping period enters full swing, having a plan for social media success is vital.
This article explores the growth of social media commerce, the types of buyers most likely to purchase on social platforms, and strategies to help your businesses succeed this Black Friday.
What is social media commerce?
Social media commerce, or social commerce, refers to using social media to promote and sell products and services. It goes further than linking to your website from your Instagram story; with social commerce, the entire transaction happens on the platform. As a result, the whole shopping experience – from discovering a product to purchasing it – takes place on the social media app.
The growth of social commerce
Social commerce has seen explosive growth in recent years, with features like Instagram Shopping, Facebook Marketplace, and TikTok Shop making it easier than ever for businesses to leverage social media to acquire customers.
According to analysts, the total revenue generated by social commerce sales in the U.S. is expected to hit $141.4 billion U.S. dollars by 2028, up from $90.59 billion in 2024. Globally, the figure is forecast to grow to $1.09 trillion by 2028, up from $699 billion in 2024.
As revenue from social media purchases continues to climb, more businesses are investing in the channel. This Black Friday, brands with a solid social commerce strategy are poised to boost sales as shoppers discover, browse, and buy directly on social media.
Who's shopping on social media?
Paysafe’s Inside the Wallet research report revealed that 38% of consumers buy through social media multiple times a year. Younger consumers are more likely to use social media to buy things, with 45% of Gen Z and millennials purchasing through social media throughout the year. However, some baby boomers indulge in social media shopping too – more than one in five boomers buy from social media several times a year.
When asked why they purchase goods and services on social media, the reason consumers most often give is that social media offers discounts and deals not available elsewhere. This is especially interesting in the context of Black Friday, as it suggests that for many shoppers, social media is their first port of call to snag a bargain.
How to create a winning social commerce strategy
So, what do you need to think about as you ramp up your efforts on social media? Here are some tips to succeed in social media commerce.
Focus on the right platform
You don’t need to be across every social media platform to be successful. Instead, find out which ones your customers are most likely to use and double down on these.
For instance, if your target demographic is teenagers and young adults, TikTok might be more effective than Facebook. Research and test different platforms to find the best fit for your brand.
Run paid promotions
Investing in social media advertising can increase brand visibility and help you reach shoppers who might not have discovered your business organically. Consider using a mix of image, video, and carousel ads to capture attention and showcase your offerings.
A note of caution: during the Black Friday sales, the cost of advertising often increases, with multiple brands competing for the same audience. To improve return on investment, schedule ads to run at the times of day when your audience is most likely to shop.
Perfect your product listings
Clear, informative, and visually appealing listings can make or break a sale.
Ensure that your product images are high quality and stay true to what the item looks like. Meanwhile, product descriptions should be concise while highlighting any key selling points.
Keep up with trends and updates
Social media platforms are constantly evolving as new features and trends emerge. Staying on top of these changes is essential for businesses looking to thrive in social media commerce.
Leverage the latest tools and features to showcase the best of your offering. Inserting your brand into trending topics or participating in viral challenges can also boost your visibility.
Partner with relevant influencers
The right influencer partnerships can enhance your social media commerce strategy. By collaborating with those who align with your brand values and target audience, you can create authentic content that demonstrates the benefits of your product.
Experiment with live shopping events
Sometimes known as live commerce, real-time shopping events are a growing sub-category within social media commerce.
Live events broadcast via social media channels are a great way to instantaneously connect with customers and showcase how products work. Most platforms now offer viewers the option to purchase directly from the live stream.
Understand the payment process
Social media platforms offer integrated payment solutions to help you convert scrolling prospects into paying customers. The technology is most effective when embedded into social media posts and adverts to enable a swift, smooth checkout.
Driving Black Friday sales through social media commerce
By creating a significant channel for businesses to sell to consumers, social commerce is transforming the retail landscape. To capitalize on its growth and potential, your business can take steps to expand your social media presence and quickly convert shoppers visiting your listings.
Taking social commerce seriously is even more important for businesses targeting Gen Z and millennials. With nearly half of consumers in these age groups buying from social media throughout the year, many will turn to social media as a suitable spot to snatch up a deal.
Are you interested in how consumers’ spending habits are shifting? Read our annual consumer research report, Inside the Wallet, to learn how shoppers around the world are spending, saving, and thinking about finance.
