Driving Rapid Business Growth with Shops
Shops+ is an expertise which sits within our Social Commerce+ practice, designed to support your business as you launch and customize Social Shops (from Facebook, Instagram, Pinterest, TikTok and more).
Social Shops are growing rapidly as a new route to market, accelerated by two major forces. Firstly, as the pandemic took hold, eCommerce as a primary shopping channel became the norm (growing by 46%) and secondly, social media users grew by 9%. Leading social platforms seized the opportunity to connect eCommerce with social, developing a string of purchase solutions to keep users locked into buying directly from their apps. Social Commerce is forecast to grow to US $3.37 trillion globally over the next eight years, and the big bet for brands and businesses in this space has been Shops; an in-app, catalog-based storefront for discovery and product curation.
“Shops” was coined and popularized by Facebook and Instagram, but the technology principle is being incorporated across a broader spectrum of social platforms like Snapchat and Twitter. Shops is more than just an online showroom – it is a formidable new route to market for brands. VMLY&R COMMERCE has scaled its Shops+ expertise, from commercial planning to the technical integration across eCommerce platforms, into our wider suite of Social Commerce+ services to help clients drive rapid business growth.
With all new sales channels, VMLY&R COMMERCE believes it’s critical to understand the role Shops plays within a wider commerce ecosystem. The key is to circumvent cannibalization of revenue across existing channels, unlocking new revenue by reaching new shoppers with razor-sharp tailored and relevant commerce experiences and product portfolios.