From Breakingviews - E-commerce will go viral on social media in 2023
projects U.S. social media e-commerce sales will increase 20% annually over the same span, to $80 billion.
The appeal makes sense. Retailers want to attract and keep shoppers online. With customers able to learn more about products from interactive live streams, it should reduce returns, a costly aspect of the e-commerce trade. Many products won’t suit the medium, however. Cosmetics work better than, say, electronics. Social-media services also may struggle to charge influencers and retailers extra fees. Amazon and others are offering shopping features at no additional cost. And competitors may ultimately be their clients. Venture capitalists have invested $700 million, per research outfitNetwork effects will be powerful.
generate the equivalent of a week’s worth of sales at its flagship store. Such anecdotes are what will make e-commerce go viral on Western social media.
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