VICI86 Consulting’s Post

The forecasted surge in social commerce sales to potentially exceed $3 trillion by 2026 signals a profound shift in consumer behavior. Consumer goods companies must ramp up their social media presence and invest in infrastructure to capitalize on this trend. With heightened competition in the digital realm, innovation becomes paramount for securing market share. Success in social commerce hinges on strategic adaptation to evolving consumer preferences and market dynamics. #consumerbehavior #socialcommerce

Great post highlighting the evolving consumer landscape in Nigeria. The shift in behavior is definitely a wake-up call for marketers. With consumers prioritizing value for money and e-commerce continuing to grow, these trends are impossible to overlook. I especially agree with the focus on supporting local brands. Emphasizing cultural relevance not only builds brand loyalty but also deepens connections within the community. In my view, prioritizing digital engagement and finding creative ways to spotlight local partnerships will be key to adapting marketing strategies in this changing environment.

We are currently witnessing a dynamic shift in consumer behavior influenced by economic challenges, preferences and digital transformation. As marketers and business owners, we should consider the following insights: Consumers now prioritize value for money. While brand loyalty remains, many consumers are exploring alternatives that offer competitive pricing without sacrificing quality. The growth of e-commerce is undeniable. Brands must invest in digital marketing strategies to reach consumers where they are - online. Our ability to leverage social media and e-commerce platforms is crucial for brand visibility and engagement. There is a strong inclination towards supporting local brands. Connecting with consumers by highlighting local sourcing and cultural relevance can build a deeper connection. Understanding these trends is essential for us marketeers to adapt our strategies and remain relevant in a rapidly changing market. How are you adjusting your approach to meet the evolving needs of Nigerian consumers?

Leveraging the power of social commerce to drive growth. Join us in shaping the future of retail. How can your business capitalize on the booming social commerce market? Share your thoughts and strategies #socialcommerce #ecommerce #digitalmarketing

In today's rapidly evolving marketplace, it is essential for brands to stay in touch with market trends. Being attuned to changes in consumer behavior, technological advancements, and industry shifts enables brands to remain relevant and competitive. Trends provide insight into customer preferences and expectations, allowing brands to innovate, tailor their products and services, and meet emerging needs. Brands that consistently align with current market dynamics can build stronger connections with their target audience, foster loyalty, and maintain a forward-thinking edge in their industry. Failing to do so risks stagnation, loss of relevance, and ultimately, a decline in market share. Phillip Gittins Mandy Robinson Alphonso Malgas I love what @PicknPay Hypermarket has done here, well done and may we see more of these.

Is the Middle East ready for the next wave of commerce media? This is a question I have asked myself this week. The market is similarly poised as other global markets and yet very different in the way consumers have interacted with offline retail and how online commerce is viewed. So while the west is on another wave will it resonate with the Middle East market? I would love to know your thoughts. #commerceinmena

$27 BILLION—that’s what social commerce brought in for the U.S. alone in 2020. Imagine the reach your brand could achieve by tapping into this powerhouse! Social commerce isn’t just a trend; it’s a chance to get your product right where buyers are looking for it. Make 2024 the year your brand goes social! #Ecommerce #SocialCommerce #DigitalMarketing

📈 𝗧𝗵𝗲 𝗥𝗶𝘀𝗲 𝗼𝗳 𝗦𝗼𝗰𝗶𝗮𝗹 𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗲 𝗔𝗰𝗿𝗼𝘀𝘀 𝘁𝗵𝗲 𝗚𝗹𝗼𝗯𝗲 🌍 The landscape of e-commerce is rapidly evolving with the integration of social media. As seen in this detailed infographic from Statista, social commerce is becoming a significant component of online sales in some of the world's largest economies. 🔹 𝗖𝗵𝗶𝗻𝗮 𝗹𝗲𝗮𝗱𝘀 𝘁𝗵𝗲 𝘄𝗮𝘆, with social commerce expected to constitute over half of e-commerce transactions by 2028. 🔹 𝗜𝗻𝗱𝗶𝗮 𝘀𝗵𝗼𝘄𝘀 𝗿𝗲𝗺𝗮𝗿𝗸𝗮𝗯𝗹𝗲 𝗴𝗿𝗼𝘄𝘁𝗵, indicating a shift towards more integrated shopping experiences. 🔹 Meanwhile, 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗲𝗱 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 𝗹𝗶𝗸𝗲 𝘁𝗵𝗲 𝗨.𝗦. 𝗮𝗻𝗱 𝗚𝗲𝗿𝗺𝗮𝗻𝘆 are also embracing this trend, albeit at a more measured pace. As digital platforms become more intertwined with our shopping habits, understanding these trends is crucial for businesses looking to capitalize on social media's vast potential. What strategies do you think will be most effective in leveraging social commerce growth in these markets? Let's discuss it! #SocialCommerce #DigitalMarketing #Ecommerce #Statista #MarketTrends #BusinessStrategy [Visual content credited to Statista Market Insights]

#LiveCommerce is reshaping the way we discover, select and purchase through retail in China, and Europe is poised for a similar surge in the next 2 years, although somewhat fragmented. Some food for thought - how are you tapping into #RetailMedia to take this to the next level? For those interested here is a little more from McKinsey https://lnkd.in/e7pAByxn

🚨 The 2024 State of Social Commerce Report 🚨 New research report, surveying over 1,000 consumers about their buying preferences & what that means for brands. Follow us to make sure you don't miss tomorrow's drop 👀 #ecommerce #socialmedia #digitalmarketing