Digital technologies, more specifically social networking sites, are increasingly becoming important across industries in driving overall development. Social media is one of the high growth components of this digital evolution. With the internet as the delivery backbone, social media platforms are easy to access and are consequently playing a major role in the development and evolution of the business and consumer landscape. The impact of social media across the business value chain has been significant. It has influenced peoples view and perception of one another as well as that of their surrounding environment. The range of content across the web has never been more apparent and influencing.
The number of users is growing and the content itself is constantly evolving. This evolution has created many opportunities including Social Commerce . Social commerce provides an online platform that enables consumers to not only buy products through social media but also share their feedback, reviews and products, thus creating a powerful sales and media channel. This unique mix of social and online commerce is enabling CPG (consumer packaged goods) companies to strengthen their brand image and capitalize on new ecommerce opportunities. Companies will not only focus on connecting with the consumer through social media but will also integrate their ecommerce strategy with their overall social media strategy. Social commerce marketing is fundamentally reshaping the operational structure along with the strategic focus of food & Beverage companies. This channel is expected to creating impact beyond marketing, driving strategies related to product innovation, supply chain management, and operational efficiency. If managed well, it can help companies in gaining competitive advantage and develop an effective new sales channel.
Executing a strategy that combines different ecommerce channels and consumer segments is challenging, but if executed well, it can provide companies with direct access to a very loyal and easy to target consumer base. To succeed, food & Beverage marketers need to invest in the right areas and execute ecommerce initiatives well, without cannibalizing their existing sales channels. This report from Socintel360 helps marketers understand and analyze the social commerce industry and to develop an effective social media roadmap one that ultimately converts social media conversation to transactions .
This report examines the impact of social media on business, providing detailed insights on key consumer trends. It highlights CPG categories in which consumers are more inclined to shop online and accordingly assesses new market opportunities for companies. Further, insights are backed by analyst reports, covering key strategies companies have adopted to gain market share, best practices, and innovation. The report incorporates findings from extensive primary research including a comprehensive global consumer survey that covers a series of consumer behavior indicators. The key highlights of the reports are:
â€¢ Market Trends - Comprehensive view of evolving social media consumer trends (including social commerce) and their impact on businesses. Highlights emerging trends and their impact on CPG consumer markets in the US.
â€¢ Industry Trends - Analysis of growth sectors and factors driving change the development of new concepts, economic/lifestyle influences and non-store retail. Comprehensive coverage, providing insights across a series of market indicators that enables marketers to evaluate and understand key consumer trends and their impact on the social commerce landscape.
â€¢ Competitive Landscape - Review of the competitive landscape by social platforms, list of top five product categories that consumer expect to shop in covered individually for the Food & Beverage, Personal Care and Household Care sectors.
â€¢ Market Data - Data (including forecasts) across key industry indicators such as size of ecommerce market, size of social commerce market, size of coupons market etc.
â€¢ Best Practices - A selection of meticulously chosen case studies reflecting best practices and strategies companies can adopt to build an effective social commerce strategy.
This report provides detailed information, insights and opinion on social commerce strategies adopted by leading CPG brands in the US. It focuses specifically on social commerce marketing contextualized with broader social media marketing.
Below is an overview of the scope of this report:
â€¢ Market Focus: US
â€¢ Industry Focus: CPG - Consumer Packaged Goods
â€¢ Sectors covered - Food & Beverage, Personal Care, Household Care
â€¢ Data & Analysis: This report provides extensive analysis of industry and consumer trends, including best practices for implementing social commerce strategy in the US.
Key Questions Answered
This report answers several key questions that are critical for marketers looking to formulate winning social commerce strategies in the US.
â€¢ Operational - How can CPG marketers formulate effective social commerce strategies and execute them in tandem with overall social media strategy to gain maximum benefits?
â€¢ Industry Trends - What are the key industry trends and how social commerce can be linked to ecommerce strategy?
â€¢ Consumer Behavior Analysis - What are the key consumer trends (existing and emerging) that will impact the social commerce market and how companies can leverage these trends to maximize benefits?
â€¢ Competitive Landscape - How are companies using social media along with social commerce to gain market share?
â€¢ Best practices - How are companies successfully implementing social commerce strategy?