Social commerce — selling products or services directly on social media — has been extremely popular in China since 2016. Here in the United States and using the pandemic’s spike in online sales as an accelerator, social platforms have invested heavily in building out shoppable video functions to reach U.S. users.
Even though Meta Platforms Inc.’s Facebook shut down its live shopping feature in October, the social commerce industry is still projected to go from $20 billion in revenue this year to $57 billion in 2025. As the big players — Facebook, Instagram and TikTok — figure out what the future of social commerce looks like, the following companies coming to the Innovation Lab at NRF 2023: Retail’s Big Show are highlighting cutting-edge technology that can help social platforms and retailers bring the idea to life. Don’t miss these and more than 50 other companies in the Innovation Lab to find out what’s in store for the future of retail.
LiSA is a headless social commerce platform that allows brands to manage and publish live content directly to Instagram, TikTok, Facebook, YouTube and Twitch. Brands can engage their customers wherever they are and ultimately drive traffic to on-site shoppable livestreams and videos created in the LiSA suite. The platform is currently live with brands around the globe such as Avon, Coach, Stuart Weitzman, Kate Spade, L’Oréal and Charlotte Tilbury.
Buywith is a livestream shopping platform connecting creators with brands. Using an omnichannel link, any shopper can join the live events and enjoy a shopping experience inside a brand’s website alongside their favorite creators, influencers and other shoppers in the community. It utilizes patent-pending smart screen sharing technology, enabling a unique “shop with me” experience where a host takes shoppers on a live journey on a brand’s website. Buywith is currently partnered with brands and retailers such as Steve Madden, H&M and Forever 21.
Squadded is a social commerce software solution for online stores that can turn a brand’s website into an interactive shopping destination to ultimately drive more revenue. With Squadded, visitors can interact with friends and fellow shoppers, brand ambassadors can generate their own storefronts, and influencers can invite their followers to live shopping parties. By disrupting the online shopping experience with an immersive customer experience, Squadded helps create authentic community engagement — which boosts customer acquisition and conversion rates.
Violet.io is a livestream shopping platform integration that allows shoppers to buy directly through social, livestream, voice, AR/VR, SMS or any other channel. Violet’s universal checkout API directly connects emerging sales channels (publishers, social networks, apps) with merchants’ ecommerce stores. Shoppers can complete checkout on any emerging channel, eliminating the friction between product discovery and product purchase, driving higher conversions than outdated affiliate marketing tactics.
Logie is a predictive ecommerce marketing platform powered by artificial intelligence. By using vast swaths of data and expert insights, Logie removes the guesswork from marketing campaigns and connects shoppable content and products to consumers who are the most likely to buy them. Instead of being paid a flat fee for the work, Logie creators earn royalties based on the popularity of their content and commissions based on actual sales.
Bitreel is an end-to-end platform empowering brands to create, manage and operate 3D photoreal virtual stores that are immersive, highly interactive and shoppable. With current clients like Ethan Allen, brand designers and customers can meet in a virtual setting to test products before connecting in person.