Brands are enabling users to order and pay for products directly via messaging apps
Trend - Retailers are utilizing social messaging apps to allow shoppers to interact with businesses and pay for products while they remain in-chat. What this means is that shoppers can use their favorite messaging channels to discover products, place orders, make payments, and track packages.
Insight - When it comes to e-commerce, today's consumers increasingly expect two things: convenience and personalization. Moreover, most online shopping now takes place on mobile devices. In response to this, social messaging apps have begun offering retailers new in-chat commerce features that prioritize these expectations. First, by condensing the commerce journey into a single, convenient chat-based solution. And second, by reaching consumers where they are already spending their time — on their phones.
Insight - When it comes to e-commerce, today's consumers increasingly expect two things: convenience and personalization. Moreover, most online shopping now takes place on mobile devices. In response to this, social messaging apps have begun offering retailers new in-chat commerce features that prioritize these expectations. First, by condensing the commerce journey into a single, convenient chat-based solution. And second, by reaching consumers where they are already spending their time — on their phones.
Workshop Question - How could your brand better prioritize convenience and personalization?
Trend Themes
1. Chat-based E-commerce - Using messaging apps for e-commerce to offer convenient and personalized shopping experience.
2. Conversational Commerce - Rethinking business-to-consumer communication through SMS-based software solutions to increase customer loyalty and engagement.
3. Social Messaging Money Transfers - Introducing peer-to-peer money transfers through messaging apps for seamless and convenient transactions.
Industry Implications
1. Retail - The use of chat-based e-commerce and conversational commerce platforms to improve the customer experience and increase sales revenue.
2. Fintech - The integration of social messaging apps and digital wallets for peer-to-peer money transfers.
3. Marketing - Conversational commerce and chat-based e-commerce allow for one-to-many marketing and personalized promotions to drive sales.
