Amazon has launched a new “Inspire” feature, which is a social media platform-inspired feature that allows customers to view and buy products through the Amazon app. The feature will provide a stream of photos and videos tailored to individual users, allowing them to “like” a product before buying it. Social commerce opportunities have grown as a result of TikTok’s success, with other companies such as Meta, Alphabet Inc., Instagram and now Amazon taking advantage.
In 2021, global social commerce sales totaled $492 billion and are projected to reach $1.2 trillion by 2025. This provides platforms and brands with new opportunities for user experiences and revenue streams, as more than $226 billion was spent on social media advertising last year.
Social commerce sales presently represent 10% of e-commerce sales but are expected to grow to 17% in the next three years due to its widespread appeal worldwide. This increase in time spent on social media reflects how essential these platforms are becoming in our daily lives, providing both customers and brands with unique opportunities for engagement and monetization alike.