How is the social commerce landscape changing in 2024?

For F31, the social commerce landscape in 2024 is teeming with innovation and transformative trends

In the rapidly-evolving landscape of social commerce, we foresee 2024 as being the start of quite a transformative period, as we begin to witness the emergence of innovative trends that reshape the way brands and consumers interact online.

The social commerce landscape in 2024 is teeming with innovation and transformative trends transcends its conventional role as a mere marketplace, it is increasingly becoming a vibrant ‘hangout spot.’ At F31, we are poised to support the creation of such immersive hangout spaces, as we anticipate a dynamic wave of experiences and programs set to flourish in the next 6-12 months.

One of the most notable trends on the horizon is the surge in immersive shopping experiences. Expect an influx of augmented reality (AR) and virtual reality (VR) features seamlessly integrated into social commerce platforms.

This technological leap will empower customers to virtually try on products, providing a more engaging and interactive shopping encounter. Social platforms are evolving beyond static product listings, embracing interactive posts, shoppable tags, and AR try-ons that bring the entire store experience to consumers’ fingertips.

This evolution promises a new era where the boundary between online and offline shopping dissipates, creating a virtual shopping environment that rivals the physical store.

The prevalence of AI-powered personalisation is set to redefine how consumers discover and engage with products. Advanced AI algorithms will analyse user behaviour, preferences, and social interactions to deliver hyper-personalised recommendations and product suggestions.

Social commerce is becoming smarter, tailoring its offerings based on individual tastes and online habits.

Chatbots and virtual assistants are also stepping onto the scene, streamlining the shopping experience and offering real-time assistance. The fusion of AI and personalisation is not just enhancing convenience but is also poised to significantly boost conversion rates, ushering in a new era of tailored and intuitive shopping.

The landscape of instant purchases and shoppable content is also undergoing a transformation, streamlining the buying process within social platforms.

Direct purchases from posts, stories, or videos, without the need for redirection to external websites, are becoming the norm. Social commerce is embracing integrated payment solutions, making one-click purchases and easy checkouts a standard feature.

This seamless integration of commerce into social spaces is reshaping the way users interact with content and make purchasing decisions, marking a shift towards a more user-friendly and frictionless shopping experience.

An exciting trend gaining global momentum is livestream shopping. While it initially gained traction in the APAC region, the concept is evolving into a worldwide phenomenon. Brands and influencers are collaborating to host live product demonstrations, Q&A sessions, and interactive sales events, fostering real-time engagement with audiences.

Livestream shopping not only provides a platform for immediate purchasing options but also creates an authentic and personalised shopping experience that transcends traditional e-commerce interactions.

Brands are also honing in on the power of niche communities and micro-influencers to create more authentic and relatable content. Instead of targeting mass audiences, brands are increasingly focusing on smaller, highly-engaged communities and collaborating with micro-influencers who have a dedicated following.

This shift towards authenticity is further amplified by the rise of User-Generated Content (UGC). Influencers and everyday users alike are taking centre stage, producing content that builds trust and shapes the narrative of what’s hot in the social commerce sphere.

The reliance on UGC not only fosters a sense of authenticity but also establishes a more personal and genuine connection between brands and consumers, allowing them to build trust.

According to a Harvard survey, trust has a positive relationship to buying behaviour, with 80 per cent of respondents claim that trust is a deciding factor in their buying decisions.

For Cariuma, we wish to create a space where consumers not only shop, but also actively engage and belong.

2024 promises to an exciting start of this social commerce transformative journey, and we look forward to being part of these trends as they unfold and contribute to the evolving narrative of social commerce.

By Paris Vorgias, Brand and Commerce Manager, F31 – Cariuma’s MENA marcomms agency