With 90% of beauty consumers aware of brand pages/accounts on social media—and only 10% who say they avoid brands’ social media pages—the opportunity for engagement is huge, noted Mintel.
“Social commerce is the next evolution of eCommerce and will benefit from Americans’ heavy use of online shopping in recent years,” said Katie Hansen, retail and eCommerce analyst at Mintel. “As with the adoption of online shopping, it will take time for consumers to become comfortable purchasing items via social media, and even more time for them to do so on any kind of regular basis, but the category will see a boost as a result of increasing engagement from younger consumers as they grow into adulthood and earn more money. That said, social commerce will in no way replace traditional eCommerce or in-store shopping, but it will become a key part of their shopping repertoire.”
Data and Diversity Concerns
While consumers are increasingly curious about social commerce, barriers such as data security and shipping hold some back from participating. Two in five (38%) consumers say they haven’t made a purchase directly on a social media platform due to the lack of trust in the security of their payment information, while 23% say it’s because they are worried they will never receive their purchase, found Mintel. This signals that education on social commerce is still needed.
Mintel research shows that social media can be a seamless avenue for brands and consumers to connect. Consumers of varying backgrounds are interested in social commerce, most notable are parents with children under the age of 18 (81%), Millennials (81%), Gen Z (68%), and Black consumers (62%).
What’s more, nearly three in 10 Black (29%) and Asian (27%) consumers browse for products on social media but purchase on a website. This is true for around a quarter of White (24%) and Hispanic (21%) consumers. This showcases a notable percentage of consumers who are leaving social channels to make purchases and indicates how important it is for brands to represent consumers of all backgrounds to encourage a purchase.
For more on social media trends, check out our recent influencers roundup here.