Technology

Horizon Media Study Finds That Social Shopping is Quickly Replacing Ecommerce

Published

3 hours ago

September 24, 2024

Millennials and Gen X Growing Group Who Scroll to Shop; Live and Virtual Shopping Driving More Brand Purchases

NEW YORK, Sept. 24, 2024 /PRNewswire/ — As Gen Z and Millennials increasingly research and purchase products through social media as well through live and virtual shopping, gaming, and automated reality platforms, social shopping is set to outpace e-commerce, putting pressure on brands that face a collapsing consumer purchasing journey. How consumers are behaving and the implications for brands, social media platforms, and retail media outlets are the subject of The Rise of Social Shopping, released by Horizon Media today.

The findings from the WHY Group, Horizon Media’s intelligence center of excellence, and Night Market, Horizon’s commerce affiliate, demonstrate that social shopping is quickly replacing ecommerce. The results show that one in four people today are scrolling to shop. Among social shoppers, 80% say they make a purchase twice a month and 73% expect to purchase at least once a month in the upcoming year, with Millennials most likely to be frequent shoppers. Those not currently shopping on social are open and ready: 75% of Gen Z, 76% of Millennials and 61% of Gen X feel comfortable purchasing on social media. Marketers need to tap into these platforms to connect with customers where they are to drive additional revenue.

Beyond the Gen Z adopters, Millennials and Gen X are also quickly shifting online buying habits to social platforms including TikTok, Pinterest, Snapchat, Facebook, and Instagram. In addition to live shopping, gaming platforms such as Twitch and Roblox now connect brands to buyers.

More than half of products purchased through these platforms are brand name and purchases span categories – more than 40% include Apparel, Beauty, Electronics, and Personal Care. Impulse buys are big, including trending and seasonal products.

The market opportunity is large: Social commerce revenue is projected to reach $6.2 trillion globally by 2030 (Statista). Instagram, Facebook, YouTube and Tik Tok have already integrated shopping into their user experience and more brands are jumping in to generate revenue. More than 72% of social shoppers say they could replace at least some of their online shopping with social shopping.

However, the biggest hurdle to more widespread acceptance is scammers and the trustworthiness of online shopping. Brand verification is key and a large opportunity to generate sales. Marketers need to invest and promote safety in their brands. Once this happens, they will capture more market share.

“We are witnessing one of the most radical shifts in behavior we’ve seen since the adoption of ecommerce,” said George Musli, Chief Business Officer, Night Market. “Social shopping promises a dynamic, personalized experience that can shorten the marketing funnel and blur the boundaries between online and offline retail. Marketers need to capitalize on the platforms poised for growth. Today gaming experiences are already making an impact, especially among Millennials. Brands that jump in will be in a prime position to grow when uptake expands.”

The Rise of Social Shopping report includes the following key findings:

Social Shopping in Tik Tok, and Beyond

Despite reports that the introduction of Tik Tok Shop would spell the app’s demise, people disagree

Just 12% of social shoppers agree that social shopping on places like Tik Tok is making social media less fun, a figure matched by 13% of non-social shoppers

Beyond Tik Tok, there is significant opportunity across Meta properties and YouTube, especially with older cohorts

Facebook is not only one of the most used platforms but also the most trusted for social and non-social shoppers alike

Marketers can take advantage of introducing new products and promotions by targeting the more than 4 in 10 non-social shoppers that already see social media as a place to gather inspiration or research

Live streaming and virtual shopping are new commerce channels

Live shopping and virtual shopping are gaining traction, adding new dimensions to the experience

This shift in shopping behavior goes beyond Gen Z, with Millennials and even Gen X embracing new ways to purchase through social media, gaming experiences, AR, and VR

Among social shoppers 58% of Millennials have purchase form a livestream and would again, 56% of Gen X are open to trying. This extends to virtual shopping with 48% of Millennials planning to do this again, and 40% of Gen X open. These new avenues can bring incremental sales for marketers promoting their brands in new ways

Social Shopping Excels with Relational Buyers

Shoppers see social commerce as a way to support small businesses, foster community, and promote social good, while social shoppers further associate it with endorsements and personalized recommendations

Social shopping excels in creating connections in a way that traditional online shopping does not

Users are looking for inspiration (55% of the population, 60% of Gen Z). Marketers can help them discover a brand or product they didn’t even know they needed

Timing is Key for Purchases

Impulse buys are big including trending and seasonal products

Brands can encourage immediate buying with reminders to purchase and exclusive offers

Influencer partnerships, trending hashtags and seasonal products can also be instrumental in generating hype for products and services

Marketers can evaluate the content users are browsing and what products they are considering to purchase, and serve an ad that leads to a verified brand page (and contains some other enticements like free shipping) to drive sales

“Social shopping is now officially a part of the online ecosystem, tapping into community in a way that online does not,” Pam Wake, VP, Why Group. “Social offers a rich environment for brands to foster connections, build loyalty and consequently create unique shopping experiences that blur the boundaries between commerce and community. Marketers can tap into existing fandoms, subcultures and niche communities that are drawn together by shared values, norms, behaviors and identity makers.”

For more findings, as well as recommendations for how brands can translate these insights into action and engagement, access the full report at The Rise of Social Shopping.

Methodology:

We surveyed 1,008 adults 18-59 who use social media and shop online, including n=499 that are current social shoppers (purchasing via social commerce avenues including social media, gaming or AR/VR) and n=509 who are not.

The sample was balanced to the US general population by age, gender, region and income. Surveys were fielded between 4/30/2024 and 5/7/2024.

About Night Market

Night Market, which is part of Horizon, is a multi-service retail and commerce agency that helps clients maximize business performance, growth, and outcomes. We offer a comprehensive range of retail and commerce solutions designed to help ignite and accelerate growth across marketplaces, retail, DTC, and omnichannel. From media to creative, customer experience (CX), and digital transformation (DX), we combine the right mix of human and technical capabilities to design and deliver experiences across owned, leased, contextual, and experiential platforms that influence consumer perceptions and behavior and drive transactions. Founded in 2020 with a focus on being a business partner and a business driver as much, if not more, than an agency.

About Horizon Media

Horizon Media, the largest U.S. media agency delivers data-driven business outcomes for some of the most innovative and ambitious brands. Founded in 1989, headquartered in New York, and with offices in Los Angeles and Toronto, the company employs 2,400 people and has media investments of more than $8.5 billion. Horizon Media’s fundamental belief is that business is personal, which drives its approach to connecting brands with their customers and engaging with its own employees resulting in industry-leading workplace satisfaction levels (Glassdoor). The company is consistently recognized by independent media outlets for its client excellence and has earned several “Best Workplaces” awards reflecting its commitment to DEI and the life and well-being of everyone at Horizon Media.

View original content to download multimedia:https://www.prnewswire.com/news-releases/horizon-media-study-finds-that-social-shopping-is-quickly-replacing-ecommerce-302257014.html

SOURCE Horizon Media

Technology

The Lacek Group Champions “Infinite Personalization” in New White Paper

Published

2 mins ago

September 24, 2024

New AI tools and deeper data curation offer marketers the potential for limitless customization.

MINNEAPOLIS, Sept. 24, 2024 /PRNewswire/ — According to a recent report, 70% of brands agree that AI adoption will bring personalization to new heights and build deeper, more meaningful connections with their audiences. But few brands have harnessed these new technology tools to achieve those outcomes, often due to a lack of understanding about what’s involved.

70% of brands agree that AI adoption will bring personalization to new heights.

What if marketers could create a highly personalized communications plan for every individual in a database? What if the personalization was reflected across more than just content, but also cadence, preferred channel, layout, offers, and more? Further, what if a marketing plan could adapt in real time to meet each customer’s evolving preferences and needs? That’s infinite personalization.

For decades, communications and marketing professionals labored through an intensive annual process to craft an organization’s marketing plan. As mass-marketing capabilities evolved to allow for content tailored to unique audiences, brands have been relying on customer persona-led segmentation paired with small-scale content personalization. AI technology will drive this capability at scale, deeper data curation and sophisticated content adaptivity are vital to a new era of infinite personalization.

This white paper spotlights in-market examples and shares a four-step, AI-informed process aimed at leveling up brands’ marketing efforts:

Use multiple data points to create customer insights to hone personalization efforts at scaleEnhance and enrich personalization with adaptive content that evolves to reflect customers’ preferencesIndividualize delivery cadence and frequency to drive the highest levels of engagementLeverage split testing to the nth degree using A/B testing at the individual level

Download a copy of the full “Infinite Personalization: AI Makes It Possible” white paper and learn more about The Lacek Group at lacek.com.

About The Lacek Group
For more than 30 years, The Lacek Group has been perfecting the art and algorithms of brand devotion. We help world-class brands identify their highest-potential customers, engage them across channels throughout their lifecycles, personalize each relationship for optimal long-term results, and measure the true effectiveness of those efforts. The Lacek Group is an Ogilvy One company.

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-lacek-group-champions-infinite-personalization-in-new-white-paper-302257266.html

SOURCE The Lacek Group

Technology

The Starr Conspiracy Rebrands as TSC and Appoints Ashley Bernard as CEO

Published

2 mins ago

September 24, 2024

Name change, new leadership, and new services are designed to empower tech companies to break free from outdated marketing playbooks and drive real growth.

FORT WORTH, Texas, Sept. 24, 2024 /PRNewswire/ — The Starr Conspiracy is now TSC.

A full stack marketing agency known for its work with top tech companies today announced a significant rebrand. The agency will now be known as TSC, a name many of its clients have used for years. The change marks the evolution of a brand that has served the tech industry for 25 years.

This rebrand reflects TSC’s new direction, which includes a revitalized leadership team, expanded service offerings, and a new headquarters in Fort Worth’s cultural district. The rebrand is officially being unveiled at the 2024 HR Technology Conference & Exposition, offering attendees a first look at the agency’s new era.

With over a decade at the agency, Ashley Bernard will be the new Chief Executive Officer. She is widely respected for her leadership and deep affinity for customer experience. Bernard’s leadership is instrumental in driving TSC’s innovative approach and she will continue to lead the transformation.

“TSC is known for pushing boundaries and thinking differently,” Bernard said. “Our rebrand builds on what makes us unique and reflects who we are today — a full stack agency, redefining marketing for tech companies. Marketing has changed, tech has changed, and so have we.”

Bret Starr, TSC’s founder, and Bernard have shared the CEO seat for over a year. Working side-by-side on the rebrand, they invested heavily in AI and reimagined TSC’s services.

“There is literally no one in the world that I trust more to lead us into the future during such transformative times,” Starr said. “Ashley has a clear vision for our agency and a spotless track record of achievement and success. Our agency is stronger with her at the helm.”

In addition to Bernard’s appointment as CEO, two other leadership team members will be taking on expanded roles as part of the agency’s transformation. Racheal Bates, Vice President of Customer Experience, and JJ La Pata, Vice President of Digital Strategy and Insights, will play critical roles in driving the agency’s innovative approach to radical go-to-market strategies, experience design, brand strategy, defining moments, and sales experience alignment. TSC’s new services are designed to empower tech companies to break free from outdated marketing playbooks and drive real growth.

Bret Starr will remain fully engaged with the agency in his new role as Chief AI Officer, where he will focus exclusively on advancing B2B marketing theory, driving AI innovation, and enhancing client success.

“Our approach is centered around creating abundant experiences that resonate deeply with people,” Bernard said. “At TSC, we don’t believe in just optimizing old models. We blow them up and create something entirely new — taking into account holistic experiences and that build lasting connections.”

With a focus on redefining the marketing landscape, TSC’s leadership team is excited to bring their clients a fresh perspective.

For more information on TSC’s rebrand and services, visit TSC.chat.

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-starr-conspiracy-rebrands-as-tsc-and-appoints-ashley-bernard-as-ceo-302256540.html

SOURCE The Starr Conspiracy

Technology

LearnLaunch Fund + Accelerator brings its Demo Day back to EDTECH WEEK in NY for a Demo Week experience

Published

2 mins ago

September 24, 2024

BOSTON, Sept. 24, 2024 /PRNewswire/ — LearnLaunch Fund + Accelerator is thrilled to announce the successful completion of its Breakthrough to Scale program by five exceptional edtech companies. They now will be in the spotlight during EDTECH WEEK in New York City – the largest gathering of edtech investors and innovators on the East Coast, from October 8th to 10th.

After completing an intensive 12-week accelerator program focused on iterative, milestone-driven growth strategy, these visionary founders are now ready to showcase their exceptional solutions on a grand stage. The five companies will be appearing in the Navigating Career Pathways, Designing the Future of Work, and Innovation in K-12 Shark Tanks:

Highfive (Indianapolis, Indiana) reimagines school discipline systems to foster safe and connected communities. The company equips schools with data-driven tools that empower educators to cultivate safe, connected, and supportive learning environments.

Prentus (Miami, Florida) is a career success platform that enables transition from learning to earning leveraging the power of AI and community. Built to serve outcome-oriented schools and jobseekers, Prentus provides tools to save coaches time and reduce time to employment.

Reflection Sciences (Minneapolis, Minnesota) supports cognitive skills in early childhood, ensuring all kids are ready to succeed in school and in life. The product combines an objective measure of childhood cognitive function with classroom curriculum and supplemental interventions for ages 3 to 9 that improve brain development and later academic outcomes.

Hardskills (Singapore) is an immersive, cinematic, AI-powered platform for businesses to train essential professional skills like thinking critically, empathy, influencing, resilience, collaboration, and a growth mindset. Using unique training insights, Hardskills drives workforce engagement and alignment across multinational corporations resulting in higher productivity and reduced costs.

Thriving Students Collective (Oakland, California) empowers educators and mental health professionals with professional development solutions to effectively support neurodiverse students. With its robust library of video classes, practical tools, and a professional community, the company helps educators tackle complex learning challenges and reduce burnout and turnover.

This group exemplifies new methods and measurements approaches in education and workforce upskilling. “The education industry is seeking new ways to gauge success, and we are excited to see these teams working on meaningful impact metrics. Unsurprisingly, ‘impact measurement’ is a key theme at NY EdTech Week. It’s important to discuss new assessments and nuanced human capabilities that will become increasingly important in the age of AI,” said Jean Hammond, LearnLaunch Partner. Hammond will contribute to the “Measuring What Matters: How to Evaluate EdTech Product Impact” panel discussion.

The LearnLaunch team is featured on many expert panels during the two-day event. Venture Partner Jamie Farrell will offer insights from edtech founders on surviving tumultuous times and Auditi Chakravarty will delve into the commercialization of edtech R&D. Also, LearnLaunch Partner, Tetyana Atashkina, will participate at “Decoding the VC-Founder Match: What Investors Really Look For.”

LearnLaunch Fund + Accelerator is dedicated to supporting impact-driven entrepreneurs in achieving product-market fit and developing scalable go-to-market strategies. Focusing on companies with revenue potential and scalable impact, their unique approach nurtures long-term funding, partnerships, and growth.

Contact:
Tetyana Astashkina
Email: Tetyana@learnlaunch.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/learnlaunch-fund–accelerator-brings-its-demo-day-back-to-edtech-week-in-ny-for-a-demo-week-experience-302257284.html

SOURCE LearnLaunch Fund + Accelerator