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Horizon Media Study Finds That Social Shopping is Quickly Replacing Ecommerce

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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.

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Helio Genomics CEO Justin Chen Li Selected to Join Leadership Board of Terasaki Institute for Biomedical Innovation

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Brings Expertise in Innovative Approaches to Early-Stage Cancer Detection

IRVINE, Calif., Sept. 24, 2024 /PRNewswire/ — Helio Genomics, an AI-driven healthcare company specializing in diagnostics technology and test development for early cancer detection, is pleased to announce that the firm’s Chief Executive Officer, Justin Chen Li, has been invited to join the Leadership Board of the Terasaki Institute for Biomedical Innovation at UCLA.

With the inauguration of new 57,530-sq.-ft. core labs, the Institute now operates one of the largest independent biomedical innovation infrastructures in Southern California. This infrastructure enables the creation of important and promising scientific platforms with the potential to bring solutions to critical problems in human and planetary health by translating such solutions into lifesaving products and services.

“I am deeply honored to have been selected to serve on the board of this prestigious institute here in Southern California that is making dramatic advances in the biomedical sciences with implications worldwide,” said Li. “It’s an incredible opportunity to contribute to these groundbreaking efforts, share our expertise, and interact with others who are pursuing similar goals in improving healthcare and saving lives.”

The Leadership Board is an advisory group whose purpose is to support the Institute and its mission to invent and foster practical solutions that restore or enhance the health of individuals. It is a volunteer panel of leaders in philanthropy, business and the clinic who help formulate and execute the institute’s ambitious innovation strategy. Initiations are limited and selective and reflect the recipient’s lifetime achievements.

“Our institute is engaged in an ambitious strategy to drive breakthrough research into translation across some of the biggest unmet needs in medicine, including cancer,” said Maurizio Vecchione, Chief Innovation Officer of the Terasaki Institute. “We are grateful to Justin Li for joining our leadership board and helping to support our translational research mission with his expertise as an entrepreneur and an investor with a long history of accomplishment in biomedical innovation.”

The mission of Helio Genomics is to transform the paradigm of cancer screening by developing multi-analyte blood tests with greater sensitivity, specificity and ease-of-use compared to current screening modalities using AI technology.

The company employs a multi-modal, multi-omics approach to biomarker discovery, utilizing various biological data to understand the mechanisms behind cancer development and progression. Its focus is on translating these insights into user-friendly tools to aid medical decision-making and potentially prevent cancer progression.

Li joined Helio in 2017 as VP of Finance & Business Development and was promoted to U.S. General Manager in 2019 to oversee business operations and clinical studies. He then was appointed to lead the firm’s U.S. business as CEO in 2021. Previously, Li co-founded Sprightly Health Inc., a direct-to-consumer testing startup. Li advises various healthcare and life sciences startups in the seed to Series A stage. He also has extensive consulting experience with large pension funds, hedge funds and investment banks.

To learn more about the Terasaki Institute for Biomedical Innovation, visit www.terasaki.org.

For information on Helio Genomics and its innovative solutions for early cancer detection, visit www.heliogenomics.com.

About Helio Genomics
Founded in 2016 and headquartered in Irvine, California, Helio Genomics is a cancer diagnostics technology and test developer. The company focuses on creating and advancing cutting-edge AI-enabled technologies to detect and screen for cancer at its earliest stage, including liver and colon cancer. To learn more, please visit https://heliogenomics.com/.

IMAGE DOWNLOAD – http://www.kcomm.com/wp-content/uploads/2024/09/Justin-Chen-Li.jpg

IMAGE CAPTION – Justin Chen Li, CEO, Helio Genomics

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RODE Announces RODECaster Video All-in-One Production Console, YouTube First Look Video and More Info at B&H

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Pro Audio/Video News: The feature-rich RODECaster Video Console is both a video switcher and audio mixer for streaming and recording

NEW YORK, Sept. 24, 2024 /PRNewswire/ — B&H is pleased to announce the new RODECaster Video, an ultraportable video switcher and integrated audio mixer that offers a powerful feature set with intuitive controls to make advanced content creation quick and easy. With its high-performance octa-core CPU processor, 2″ touchscreen, rotary encoder, and wide variety of connection options, the unit makes putting together broadcast-quality studio productions, interviews, streaming events, and podcasts a snap.

 

Video Features
Connection-wise, the RODECaster Video provides four full HD (1080p) HDMI inputs with auto frame rate conversion, along with two HDMI outputs that can be configured for viewing program, preview, and multiview. A pair of flexible USB ports allow you to connect additional video and audio sources including webcams and RODE USB audio devices. Once your connections are set up, a simple button press allows you to switch between up to six video sources and seven scenes customizable with up to nine layers of video, media, and graphics. Use the front panel to access media playback, graphic transitions, keying, transitions, and deploy automatic chroma keying to replace backgrounds with media or live video inputs. A handy Inspect feature provides for quick scene configuration and preview. Built-in intelligent auto-switching delivers seamless, hands-free switching of video sources and scenes based on audio inputs.

RODE RODECaster Video All-in-One Production Console
https://www.bhphotovideo.com/c/product/1849611-REG/rode_rcv_rodecaster_video.html

Product Highlights:

Switcher with Integrated Audio Mixer

4 x HDMI & 2 x USB-C Inputs

Supports up to 1080p60

RTMP Streaming via Ethernet or Wi-Fi

20 Audio Sources, 9 Stereo Channels

9 Mix/Effect Layers

Digital USB Audio Ports

Combo Jacks with High-Gain Preamps

Aphex VoxLab Audio Processing

Bluetooth 5.3 and Wi-Fi 6 Connectivity

Audio Features
Not surprisingly, the RODECaster Video is ready to handle a wide variety of audio duties. In addition to multiple USB ports, the mixer offers a pair of XLR/TRS input jacks to accommodate microphone, line, or instrument sources and Revolution preamps with up to 75 dB of gain to easily handle even low-output dynamic podcasting mics. What’s more, wireless Bluetooth input is supported, and a pair of built-in Series IV wireless receivers lets you seamlessly integrate a wide range of RODE wireless microphone transmitters.

In total, 20 possible audio sources (or nine simultaneous stereo channels) are at your disposal. Every channel is equipped with Aphex VoxLab audio processing with EQ, compressor, noise gate, high-pass filter, de-esser, Aural Exciter, Big Bottom, and Compellor. For analog outputs, two ¼” TRS outs are provided along with a pair of ¼” headphone jacks. You can also output audio digitally via the multiple USB ports or wirelessly over Bluetooth. Each output can be independently configured with custom level, mute status, and level offset settings for each of the 9 inputs.

Streaming and Recording
With the integrated Wi-Fi 6 or Ethernet connection, one can stream to major platforms including YouTube, Twitch, and Facebook Live. Alternatively, you can record directly to an external USB device for additional postproduction work. You can record your program feed as an H.264/AVC MP4 file with embedded AAC stereo mix and multiple audio tracks can be recorded as nine independent stereo WAV files.

RODE RODECaster Video All-in-One Production Console
https://www.bhphotovideo.com/l/rode

YouTube First Look Video
https://youtu.be/v1vkXdDBiio

Learn more about the RODECaster Video Console with B&H Explora
https://www.bhphotovideo.com/explora/videos/pro-audio/rode-announces-rodecaster-video-all-in-one-production-console

About B&H Photo Video
As the world’s largest source of photography, video, and audio equipment, as well as computers, drones, and home and portable entertainment, B&H is known worldwide for its attentive, knowledgeable sales force and excellent customer service, including fast, reliable shipping. B&H has been satisfying customers worldwide for over 50 years. 

Visitors to the website can access a variety of educational videos and enlightening articles. The B&H YouTube Channel has an unmatched wealth of educational content. Our entertaining and informative videos feature product overviews from our in-house specialists. You can view the B&H Event Space presentations from many of the world’s foremost experts and interviews with some of technology’s most dynamic personalities. Tap into this exciting resource by subscribing to the B&H YouTube Channel here. In addition to videos, the B&H Explora blog presents new product announcements, gear reviews, helpful guides, and tech news written by product experts and industry professionals, as well as our award-winning podcasts.

When you’re in Manhattan, take a tour of the B&H Photo SuperStore, located at 420 Ninth Avenue. The techno-carousel spins all year round at the counters and kiosks at B&H. With hundreds of products on display, the B&H Photo SuperStore is the place to test-drive and compare all the latest gear.

Contact Information

Geoffrey Ngai

B&H Photo Video
212-615-8820

https://www.bhphotovideo.com/

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SOURCE B&H Photo

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New Future of Work Report From McLean & Company Addresses the Changes Organizations Must Prepare For

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Global HR research and advisory firm McLean & Company has released a new data-driven report, The Future of Work. In the industry report, the firm highlights both current and future key drivers of critical workplace impacts and offers insights on how to help individuals, leaders, and organizations navigate the complexities of the future of work.

TORONTO, Sept. 24, 2024 /PRNewswire/ – While the future of work remains unpredictable, what is widely known and accepted is that the labor market, technology, and how workers find value in their work are changing rapidly. According to a new report from one of the world’s leading HR research and advisory firms, McLean & Company, organizations that can successfully adapt to these changes will be likely to have a significant competitive advantage in the shifting landscape. The firm’s recently published Future of Work report explains that workplaces that are inclusive, equitable, and rewarding for all are a key differentiator in attracting customers, investors, and top talent, which ultimately leads to organizational success.

“For some, the future of work promises unprecedented freedom and flexibility. For others, it will bring uncertainty and instability,” says Will Howard, director of HR Research & Advisory Services at McLean & Company. “Organizational leaders will play a pivotal role in determining which route their organizations and employees will take. Those that are aiming for creating and sustaining workplaces where everyone thrives will need to intentionally evaluate and address the change drivers and change impacts. For future-focused organizations pursuing long-term success in the unknown future, these are critical considerations that cannot be overlooked.”

McLean & Company’s report references data from a 2024 survey conducted by the firm with a total of 802 HR and non-HR respondents, 60% of whom are senior leaders, 15% are in management, and 25% are individual contributors. Participants hailed from a variety of regions, including but not limited to North America, Europe, Oceania, and Latin America, as well as industries including finance and insurance, healthcare and social assistance, professional, scientific, and technical services, educational services, manufacturing, retail trade, public administration, transportation and warehousing, and others.

In the Future of Work report, McLean & Company defines change drivers as elements of the external environment that are driving a shift, while change impacts are aspects of the future of work that will be most affected. The firm highlights three distinct change drivers and six unique change impacts, as outlined below:

Change driver 1 – Technology: Reimagining human work. As work increasingly consists of collaborating with technology such as AI and generative AI and leaning into the uniquely human attributes that add value above and beyond technology, the skills of the workforce will need to shift. Organizational leaders will be tasked with reimagining human-technology collaboration to augment rather than replace human abilities. They will also need to invest in durable skills and capabilities, such as creative and analytical thinking, curiosity and lifelong learning, and resilience, flexibility, and agility, not just technical know-how.

Change driver 2 – Labor market: Different faces and places. The talent shortage remains an unsolved and long-standing challenge that is likely to worsen in the future. Unemployment and vacancy rates, an ageing population, and low birth rates continue to shape the talent shortage. Additionally, according to McLean & Company survey data, 31% of employee-level respondents agree or strongly agree that they will participate in gig work in 2030, meaning the proportion of gig workers in the talent pool will be more pronounced. The workforce is shifting, and organizational leaders will need to prepare for these shifts.

Change driver 3 – Work and workers: The shifting value exchange. Workers expect employers to be impactful social institutions that contribute positively to communities, societies, and the planet, to be purpose hubs that bring people together to strive toward a shared greater purpose, and to provide fair and competitive compensation. Organizations must navigate the great balancing act with the understanding that, according to survey data, 57% of employees ranked pay as the top priority to work for an organization, while also acknowledging that 71% of those between the ages of 18 and 29 indicated they would be willing to leave their employers for another that creates a more positive social impact.

Change impact 1 – Mission, vision, values: A value proposition for all. To attract and retain top talent in the future, organizations will need to revisit their value proposition for not only their employees, but also the contingent workforce and society at large. With only 22% of organizations reporting they have an articulated employee value proposition, there is a significant gap that organizational leaders will need to bridge in the future of work.

Change impact 2 – Employee development: Durable over technical. Development is shifting to become more personalized and continuous. To ensure this evolution produces a workforce equipped with the skills necessary for the future of work, organizations must ensure employees are bought into the need for development, especially considering that survey data indicates that only 46% of employees reported the need for skillsets to change and adapt to the future of work compared to 61% of leaders. Learning and development is often the first to be cut in tough times; in a future of work where skill development is more important than ever, the firm advises it must no longer be seen as merely a “nice to have” expenditure.

Change impact 3 – Organizational design: Fluidity and flexibility. A strong understanding of skills, enabled by technology, will be a competitive differentiator for organizations in the future of work. As just 26% of survey respondents reported they anticipate their job quality, enjoyment of work, and compensation will improve in 2030, organizations need to better design work for a world in which humans and technology are more closely linked than ever, internal and external change is accelerating, and talent shortages are the norm.

Change impact 4 – Leadership: Managing energy, not tasks. The definition of what it means to be a leader is undergoing a profound transformation. Most people surveyed (73% of leadership respondents and 58% of employee-level respondents) feel that leadership skill sets will need to change completely or almost completely to adapt to the future of work in 2030. Advancements in technology and the increasing diversity of the workforce requires leaders who emphasize leading people over leading just tasks.

Change impact 5 – Collaboration: No longer exclusively human. With leadership respondents being 1.4 times more likely to anticipate technology having a positive impact on collaboration compared to employees, organizations must optimize collaboration for the future workforce. This can be done by ensuring adaptable collaboration experiences, augmentation through the use of technology, accessibility that enables and empowers all workers, and autonomy and ownership of collaboration by the human workforce.

Change impact 6 – Wellbeing: Surviving the loneliness epidemic. While advancements in technology present exciting opportunities for productivity, severe risks associated with isolation and loneliness threaten worker wellbeing in the future of work. Both employees and leaders are concerned about wellbeing in the future of work, with 51% of employees reporting wellbeing as a top three concern when thinking about work in 2030 and 45% anticipating that workers will feel more work-related stress in 2030. A holistic approach will be imperative to nurture interpersonal connection in the workplace.

The firm suggests that how organizational leaders plan for and navigate the change drivers explored in the report will determine whether organizations and their employees will thrive or simply survive in the future of work.

To access the full report, please visit the Future of Work report.

Media interested in connecting with McLean & Company analysts for exclusive, research-backed insights and commentary on generative AI in HRHR trends in 2024the future of work, and more can contact Senior Communications Manager Kelsey King at kking@mcleanco.com.

To register for the upcoming free Future of Work webinar on Thursday, November 21, 2024, please visit McLean & Company’s webinars page.

McLean Signature 2024 HR Conference
To prepare for the future of work, register for 2024’s must-attend HR industry conference by visiting the official McLean Signature event page. This year’s conference will take place from October 27 to 29 at Red Rock Casino Resort & Spa in Las Vegas, Nevada. 

About McLean & Company

McLean & Company pairs evidence-based research and immediately applicable tools with deep HR expertise to position organizations to meet today’s needs and prepare for the future. The global HR research and advisory firm’s member organizations enjoy comprehensive resources, full-service diagnostics, workshops, action plans, and advisory services for all levels of HR professionals, from executive leadership to HR leaders to HR team members, that help shape workplaces where everyone thrives.

McLean & Company is a division of Info-Tech Research Group.

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact kking@mcleanco.com.

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SOURCE McLean & Company

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