The New and Trending Platforms for Social Commerce

Social commerce platforms are online spaces that include both social media and eCommerce functionalities. Social commerce has emerged as a powerful tool in the retail sector, blurring the lines between socializing and shopping. However, new platforms for social commerce are emerging so quickly that it can be difficult for retailers to keep up.

According to an article by Fast Company, "Social commerce features like shoppable posts and live shopping have been around for nearly a decade." However, "America hasn’t adopted them as quickly as countries like China." This is due, in part, to the fact that the U.S. doesn't have an overarching "super app" like China's WeChat.

Instead, retailers are left to engage consumers using a patchwork of platforms, each with unique user demographics and digital cultures.

This article explores the latest platforms revolutionizing this digital commerce mode, highlighting their unique features and the opportunities they present for retail leaders.

Established Social Media Sites

Established social media sites like Facebook, Instagram, X (formerly Twitter), Snapchat, and even TikTok are still vital platforms for social commerce, and they are still trending. This is because these sites have a huge user base and offer various features that support social commerce.

For example, Instagram's shoppable posts feature allows businesses to tag products in their posts, making it easier for users to purchase them directly from the app. Similarly, TikTok for Business enables businesses to run promotional campaigns and collaborate with influencers for product promotion.

These platforms also allow for user-generated content, which has become a crucial aspect of social commerce. User reviews, recommendations, and even user-generated ads have a significant impact on purchase decisions.

Bazaarvoice

Bazaarvoice is a type of social commerce software that enables brands and retailers to display user-generated content on their eCommerce websites. It collects and displays product reviews, ratings, photos, and videos from social media platforms to provide a more interactive shopping experience.

According to its website, retailers can "Turn real-life super fans into your strongest advocates by responding to their questions, amplifying their content across leading retailers, and allowing them to share their opinions with peers." This platform is particularly beneficial for retailers who don't have a significant presence on social media but still want to incorporate user-generated content into their eCommerce site.

CommentSold

ComentSold is a live selling video commerce platform that builds retailers and ecommerce brands their own branded mobile apps. This allows them to engage customers with push notifications and social experiences while streamlining the shopping and checkout experience.

This platform is particularly useful for brands that don't have the means or desire to generate their own smartphone app in-house.

According to the CommentSold website, retailers can reach customers "where they prefer to shop and create meaningful interactions with live shopping. One-step integration with CommentSold makes selling simple and fun—no plug-ins or coding required."

Verint

Verint provides retailers with an intelligence virtual assistant (IVA) that enables the quick and efficient deployment of customer experience automation across all their channels. It provides customers with AI-powered, personalized self-service experiences.

What's particularly interesting about the product is that its IVA Studio feature provides retailers with a low-code bot management environment that they can use across social channels. That means Verint is a great plug-in for retailers looking to optimize the social media experience for customers, but who also want more control over their automated and self-service experiences.

The solution allows retailers to "easily create non-linear and multi-turn conversations, identify intents, train AI models, and author responses in conversational flows."

Tagshop

Tagshop is another emerging platform in the realm of social commerce, offering a unique take on user interaction and shopping experiences. It allows businesses to create AI-powered shoppable galleries from user-generated content (UGC), essentially turning customer photos into interactive storefronts.

These galleries can be included in emails, social media, ads, and other content to drive conversions. Tagshop users can even find and collaborate with influencers through the platform to create unique campaigns.

By clicking on the images in the galleries, users can conveniently view product information and reviews, and then make purchases. Tagshop encourages customer engagement and leverages the power of social proof, truly embodying the spirit of social commerce.

Impact.com

Impact.com is a platform that enables businesses to build and manage partnership programs, with influencers, affiliates, retail brands, creators, and other entities. It offers a suite of features including partnership automation, fraud detection, and performance marketing, providing retailers with a unique way of forging growth-driven alliances.

The platform's robust marketing technology allows users to form, manage, and grow their partnerships all in one place, whether they're with influencers, content creators, or other brands.

For retail leaders, Impact.com translates into increased efficiency by automating the process of managing partnerships, thus allowing retailers to focus more on growth strategies. Its detailed analytics and tracking capabilities provide businesses with actionable insights into their partnerships, helping them understand which are the most profitable and why.

Embrace the New Wave of Social Commerce

Embracing social commerce platforms offers an exciting and innovative way to engage consumers and fuel business growth. Retail leaders should dive in, leveraging the capabilities of these platforms to create interactive shopping experiences, foster customer engagement, and stay ahead in the competitive landscape.

To learn more about social commerce and the latest platforms, don't miss eTail Connect East 2024. The event is happening at the Hilton West in Palm Beach, Florida from May 6th to May 8th.

Download the agenda and request an invitation for the event today.