Social Commerce and Live Selling Insights from Retailers

Objective

The primary objectives of the survey were:

1. Social Commerce Adoption:

• To determine the penetration of social commerce across e-commerce businesses, focusing on platforms like Facebook Live, Instagram Live, and in-house apps.
• To measure the impact of live selling on GMV, and to understand its expected evolution over the next few years.

2. Live Commerce Software Evaluation:

• To analyze the factors influencing the choice of social commerce vendors, especially CommentSold, and compare it with other eCommerce providers.
• To assess customer satisfaction with live commerce features and how these features drive conversion rates.

3. Investment in Social Commerce Technologies:
To gauge retailers' investment in social commerce platforms and the role of live selling in their overall e-commerce strategy.

4. Consumer Behavior Insights:
To understand how consumer behavior has shifted with the rise of live selling, and whether this trend will continue as a permanent change or revert once the market normalizes.

5. Vendor Selection and Churn:
To explore why retailers chose CommentSold or other e-commerce providers and to identify the factors driving vendor churn.

Jasper Colin Approach

To gather insights, Jasper Colin’s Executive Decision Insights was used, which integrates multi-method research: a combination of quantitative surveys, behavioral data analysis, and consumer sentiment tracking. This approach allowed us to capture real-time feedback from retailers on their social commerce adoption and live selling experience.

Key Segmentation:

Methodology

The survey was conducted with retail business owners, e-commerce managers, and decision-makers in the social commerce space. The primary data collection method was an online questionnaire, with a specific focus on live selling channels, e-commerce vendors, and social media platforms.

Survey Structure:

1. Profile Screening:

• Respondents were asked about their industry, retail format, and technology use. Questions identified businesses that sell through social channels and live streams.
• Respondents had to meet specific criteria, such as being involved in e-commerce and using live commerce platforms like CommentSold.

2. Live Selling & Social Commerce Adoption:

• Key questions included how many live selling channels were used, how GMV was distributed across live selling, and how sales volume differed between live selling and traditional e-commerce.
• Respondents rated their level of satisfaction with CommentSold and other live commerce solutions on various factors like ease of use, conversion rate, and customer experience.

3. Vendor Decision Factors:

• Retailers were asked about the vendor selection process for their live commerce provider. Factors like pricing, ease of integration, and customer service were evaluated.
• The survey also included questions about why retailers switched vendors, with a particular focus on CommentSold.

4. GMV and Performance Analysis:

• Retailers provided estimates for their live selling GMV compared to historical averages and rated how the trend in live selling would evolve over the next 3 years.
• A follow-up section explored whether 2020’s GMV growth was a result of work-from-home shifts or a permanent change in consumer behavior.

5. Social Platform Utilization:

• Respondents ranked the social platforms they use for live selling and indicated their interest in joining a marketplace that facilitates live selling. This provided insights into marketplace adoption trends.

Results

Impact 

• Strategic Insights: The survey helped retailers fine-tune their live selling strategies by identifying the best-performing platforms and vendors in terms of sales volume and customer satisfaction.
• Vendor Comparison: By comparing CommentSold with other vendors, retailers gained valuable insights into the pros and cons of different solutions, allowing them to optimize their social commerce tools.
• Marketplace Opportunities: Retailers expressed high interest in joining two-sided marketplaces for live selling, indicating a shift towards platform-based commerce.

Conclusion

Our research provided essential insights into how e-commerce businesses are adapting to live selling and social commerce trends. By understanding vendor selection criteria, consumer behavior shifts, and live selling's impact on GMV, retailers are better positioned to make informed decisions about their future investments in social commerce platforms, ensuring they can grow their businesses and meet customer expectations in the evolving digital marketplace.