L. Yltävä
Research expert
Social commerce is the use of social media platforms to market and sell products and services. This model enables customers to complete purchases directly on platforms or apps such as Facebook, Instagram, YouTube, and TikTok. By harnessing the potential of social media, companies can expand their customer base and boost their sales. Additionally, businesses can leverage social networks to gauge customer feedback, cultivate engaged communities, and collaborate with influencers.
This interactive shopping experience has grown in popularity globally over the last decade. In 2022, worldwide social commerce sales were estimated at 992 billion U.S. dollars and forecasts suggest this figure will triple by 2026. In the Nordic countries, around one in three online shoppers bought products via social platforms in 2022, with Sweden having the largest share of social buyers. While the Nordic region has its unique characteristics, social shopping is similar to that of its Western neighbors.
Despite TikTok's enormous success in the Nordics in terms of app downloads, it has not yet become a major platform for social commerce. Only four percent of social shoppers purchased through the Chinese video-sharing platform.
When it comes to ads, Nordic merchants can effectively promote their products through influencer collaborations. Influencer marketing works so well because influencers have already built a rapport with their audience, who often follow their recommendations. Moreover, user-generated content can help brands create more authentic, relatable, and engaging content that resonates with potential customers. In Sweden, most e-commerce experts held favorable opinions of influencer marketing. Close to a quarter of professionals in the field thought that collaborating with content creators significantly boosts sales. On top of this, they also deemed influencer marketing to help build their brand and attract new customers.
This interactive shopping experience has grown in popularity globally over the last decade. In 2022, worldwide social commerce sales were estimated at 992 billion U.S. dollars and forecasts suggest this figure will triple by 2026. In the Nordic countries, around one in three online shoppers bought products via social platforms in 2022, with Sweden having the largest share of social buyers. While the Nordic region has its unique characteristics, social shopping is similar to that of its Western neighbors.
Meta: the ultimate shopping destination
Meta platforms are the top online channels for social shopping in the Nordics. In 2022, Facebook, which offers both business-to-consumer (B2C) and consumer-to-consumer (C2C) shopping options, ranked first. Instagram was the second-most popular social shopping destination, followed by Snapchat. In the region, the most eager Facebook shoppers were found in Denmark, where three in five bought products via the site. With the introduction of Meta Pay, formerly known as Facebook Pay, users can complete transactions directly within the platform, making shopping more convenient than ever.Despite TikTok's enormous success in the Nordics in terms of app downloads, it has not yet become a major platform for social commerce. Only four percent of social shoppers purchased through the Chinese video-sharing platform.
Captivating ads drive purchases
Nordics are primarily drawn to these interactive acquisition channels mainly because they need products offered on the sites. Factors such as special discounts, product exclusivity, and attractive advertisements were also major driving forces for why shoppers engaged in social commerce.When it comes to ads, Nordic merchants can effectively promote their products through influencer collaborations. Influencer marketing works so well because influencers have already built a rapport with their audience, who often follow their recommendations. Moreover, user-generated content can help brands create more authentic, relatable, and engaging content that resonates with potential customers. In Sweden, most e-commerce experts held favorable opinions of influencer marketing. Close to a quarter of professionals in the field thought that collaborating with content creators significantly boosts sales. On top of this, they also deemed influencer marketing to help build their brand and attract new customers.
