MGR eCommerce Edge Weekly | July 29, 2020
Top News This Week
Who Will Win the Social Commerce Space and What Platforms Should You Watch For?
First, let’s address what is the difference between social commerce, and social media marketing.
The key difference between social media marketing and social commerce is that in the second case, you’re actively selling on the platform itself, instead of driving referral traffic from social media to a website. This means that the whole shopping experience happens without the customer ever leaving the social media channel.
We’ve discussed previously Facebook’s plans to launch social commerce features, as well as Amazon’s opportunities. These two will obviously be at a distinct advantage over challenger platforms seeing as they already have the user base, but who are the ones that have a real chance?
The two you should keep an eye on most are PopShop Live & NTWRK. The first is like if eBay and Twitch had a baby. It allows users livestream and build a following while also selling products. Those products can be anything, whether it’s random things they own or users can use it to launch their own brands.
NTWRK is QVC for streetwear. It’s not open for anyone to stream like PSL is, it has a higher production value and focuses a specific category. They do it very well and because of their success I would expect many new platforms to launch that are category specific in an attempt to emulate their success.
Other Notable Links:
1. Target and Kohl’s follow Walmart’s lead and are restricting Black Friday shopping in stores – WWD
2. As retail stores shutter fulfillment companies are buying up vacancies to build out last mile delivery – RETAIL DIVE
3. Google is cutting eCommerce fees to try to incentivize sellers – FORBES