Social Commerce 2021: Brand Trends & Marketing Strategies
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Why Instagram Still Isn t a Shopping Destination | BoF Professional, News & Analysis
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How Shopify’s network of sellers can take on Amazon
Shopify’s Harley Finkelstein on competing with the tech giants during the pandemic
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Today I’m talking to Harley Finkelstein, president of Shopify. Shopify is one of those companies that makes the modern internet go it makes software that allows businesses of all sizes to set up online stores, and from there it can handle everything from shipping orders to financing loans for expansion. The company went public in 2015, and as online commerce has exploded during the pandemic, it’s been on a tear ever since it just posted $988 million in revenue in the first quarter of 2021, a 110 percent increase from last year.
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//]]>// >By Thibaud Clément
Mar 4, 2021 5:00 AM PT
Social media has changed how we communicate with friends and family, keep up with everything from fitness trends to news, and share our thoughts and talents with the world. Now, it is changing how and where we shop.
Social commerce selling products or services on social media platforms is catching on fast. Social shopping grew 35 percent in 2020, with U.S. sales reaching about $38 billion. That number is expected to hit $50 billion by 2023, according to eMarketer.
As impressive as those numbers are, they still pale in comparison to China (suggesting an untapped growth potential), where the live stream commerce market reached $170 billion in 2020, up from $66 billion the prior year.