American venture capitalist and technology analyst Mary Meeker in her annual internet trends report revealed that the number of product searches on search engines like Google was going down. It said more people were beginning to search for products on Amazon than internet browsers but also noted that most people relied on social media for inspiration to make purchases.
The exhaustive report which was released recently touched on an array of issues ranging from technology, internet usage, e-commerce among others. A key aspect of the report was how social media websites like Facebook, Twitter and Instagram were driving product discovery and purchases on e-commerce websites. A whopping 78 percent of respondents of a survey in the U.S. said they discovered products on Facebook. Meanwhile 59 percent people found retail products that they were interested in buying through Instagram and Pinterest. Twitter and Snapchat also attracted e-commerce purchases with 34 percent and 22 percent of respondents chancing on products on these platforms.
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It also observed that most users bought a product of their choice after they discovered it through the brand’s social media post. A staggering 55 percent of the respondents said that they made a purchase after they discovered it on social media websites or applications. Speaking at the 2018 Code Conference, Meeker said, “Social media is enabling more efficient product discovery in commerce. A material portion of people that have used social media have found products on social media.”
As per Meeker’s forecast of online trends, e-commerce continued to expand, accounting a growth of 16 percent in 2017. Amazon took the lead by registering 28 percent of digital sales. Interestingly, 49 percent of US shoppers looked up Amazon while searching for products while only 36 percent used any search engine.
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