Social media has become one of the most important marketing channels for retailers and brands to raise awareness and drive action among their audiences, as it takes an increasingly central role in people’s lives as a way to connect and share. Connected online social platforms are transitioning from places to participate in conversations and build a following into marketing channels, while the addition of new commerce tools and capabilities is transforming them into valuable storefronts to facilitate sales. Simultaneously, the ascension of influencers and creators with large, highly engaged audiences is changing the ways brands and retailers are able to engage with their customers, inspire loyalty, and drive purchases.  

Platforms are eager to monetize their users and create opportunities for brands and creators alike to connect with their target audiences, and are rolling out a host of new features from shoppable content to marketing dashboards and best-practice guides as a result. These new tools enable influencers of any scale, as well the companies looking to hire them, to generate incremental income through affiliate links, and transform any casual fan or brand ambassador into a valuable sales channel. 

Part budding entrepreneur, part social media influencer and part emerging brand, creators and influencers are taking advantage of the wealth of digital platforms and resources available to build an audience and earn an income. For the growing number of digital communities and platforms (Facebook, YouTube, TikTok, Substack, OnlyFans, Pinterest, etc.) where these creators promote their content, attracting and retaining top talent has taken on outsize importance, both for the ability to bring in new audiences as well as to drive incremental revenue. As a result, these same companies are rolling out a host of new creator tools and features to facilitate fan engagement, content production and monetization. Brands as well as platforms are very eager to leverage creator cache through affiliate marketing programs, stunt hires, and product collaborations to reach younger, digitally-savvy consumers.

It’s an exciting time for retailers and brands to explore the expansive social landscape. For the moment at least, this is where a growing majority of consumers, particularly those in the younger demographic, are spending their time and attention, and increasingly, their dollars. In the following report, the PSFK team looks at six key trends in social commerce, bringing them to life for our members with a number of recent examples from the marketplace.