eCommerce has been steadily growing over the past several years, but the COVID-19 pandemic elevated this growth as many businesses focused on their digital presence to stay afloat. Additionally, many marketplace websites, such as Etsy, have reported year-over-year revenue growth since the start of the pandemic. On the consumer end, shoppers have adapted quite well to this shift towards online goods and services. With the average user spending over two hours per day on social media, it makes perfect sense that platforms like Facebook and Instagram impact purchasing habits.
In a recent survey of 14,000 global customers, Bazaarvoice found that social media is a huge source of revenue for ecommerce businesses. In fact, 76% of those surveyed are found to be influenced to purchase via social media. While most active shopping happens on Instagram, Facebook, and TikTok, there is marketing power across all of social media. Check out the infographic below to learn more.
