It looks like the burgeoning mobile commerce channel could get a hefty boost this year as social commerce on mobile devices is poised for growth of its own.
The incredible amount of time people spend on their mobile devices today is well documented, as is their willingness to make purchases on-the-go. A growing proportion of digital transactions is happening on smartphones and tablets, and retailers are realizing a higher percentage of sales on mobile compared to other channels.
But the place mobile users are spending the most time is on social networks. Jesse Pujji, CEO of social ad tech company Ampush, told VentureBeat that 64 percent of all time on mobile is spent on platforms like Facebook and Twitter. That makes them fertile hunting grounds for mobile-savvy retailers.
The networks themselves have already figured this out. Facebook (NASDAQ:FB) and Twitter (NYSE:TWTR) have already rolled out "buy buttons" that make it quick and easy for shoppers to make a purchase right from their news feeds. Even Pinterest, which has been particularly cautious about taking big steps to monetize the platform, plans to launch a similar e-commerce feature within the year.
Facebook has been much less hesitant and recently debuted Products Ads, making it even easier for retailers to get their merchandise in front of social shoppers. With a slew of online-only retailers already comfortable acting in the mobile space, Pujji believes that type of product ad holds tremendous potential.
"We're seeing a lot of the subscription e-commerce businesses leveraging mobile—folks like [The] Honest Company or Dollar Shave [Club]. And especially those that are mobile-first—like Jackthreads—where their whole customer base has been cultivated and run on mobile, so it's not weird for them to buy something on the mobile phone with them," he pointed out.
Don't let that fool you into thinking social commerce is a game just for smaller e-commerce businesses though. Target (NYSE:TGT) has been another retailer quick to utilize Facebook's product ads, and according to Senior VP Kristi Argyilan, the chain has already seen doubled conversion rates through that channel compared to others.
-See this VentureBeat story
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