Leader in Brand Commerce Technology Helps Brands Capitalize on $36 Billion Social Commerce Market
Irvine, CA – April 07, 2021 – Today, PriceSpider, the global leader in brand commerce technology, is announcing the launch of its Shoppable technology. This product connects with the company’s Where to Buy product and is a first-of-its-kind approach to helping brands drive sales by allowing every possible consumer touchpoint to become a point of purchase. Built within PriceSpider’s Brand Commerce Platform, Shoppable seamlessly creates a clear, prescriptive path for buyers at any touchpoint — from Instagram posts to newspaper ads — to reach the places they want to buy online, when consumers have been spending more time online than ever before. In 2020 Americans spent an average of seven hours and 50 minutes per day interacting with digital media, leading to unprecedented ecommerce growth, specifically in the social space. This year, total US retail social commerce sales are projected to be over $36 billion, a nearly 35 percent increase. Further, in the past two years, the number of US adults who have purchased products directly on social media has doubled from 13 percent in Q4 2018 to 25 percent in Q3 2020.
“Social and digital engagement has become a must-have component of every brand’s marketing strategy, and we’ve seen so many take advantage of all that’s available from YouTube to TikTok and every new platform in between,” said Sean Downs, CEO of PriceSpider. “Brands are realizing that if they’re going to win in ecommerce, it’s no longer enough to just have a presence on these channels, but rather the presence needs to be creating direct sales opportunities, and that’s exactly what we’ve done with Shoppable. We’re providing brands complete control over the customer journey, from directing exactly where they want the customer to shop to tracking the entire process and providing actionable insights that deliver results.”
PriceSpider’s Shoppable tool can integrate with any medium and open an easy path to purchase. Swiping up or clicking on a social post, an email, event link, blog link, video, or display ad takes the shopper to any number of places including the brand’s own product detail page, a Where to Buy landing page to compare pricing, or even to a specific retailer where the product can be added to a customer’s cart with one click. But, for all of the attention the digital boom gets, Americans still spent an average of five hours and 47 minutes engaging with traditional media per day in 2020, as well, including TV, newspapers, magazines and radio. In this shoppable scenario, a QR code can be embedded into a TV ad, direct mail, a newspaper ad, or even the side of a bus, enabling the shopping experience similar to how it works digitally.
PriceSpider’s Brand Commerce Platform processes and analyzes insights about consumer purchasing behavior for nearly 2,000 brands, ranging from many of the world’s largest consumer brands to smaller and mid-size brands. The platform allows brands of all sizes to influence ROI at every possible touchpoint and offers near real-time data and actionable insights to help them sell more products.
For more information on PriceSpider’s Shoppable solution, visit: https://www.pricespider.com/where-to-buy/.
PriceSpider is reinventing how brands conduct commerce by maximizing their ability to deliver the shopping experience customers demand — driving actions that grow sales.
By crawling thousands of ecommerce sites and marketplaces in near real-time, data enables Brand Commerce to happen. This arms brands with actionable insights on consumer shopping behavior and helps make brands shoppable across every possible touchpoint while optimizing the customer experience through digital shelf analytics.
PriceSpider helps the world’s brands, big and small, enrich the consumer journey and build long-lasting relationships with their shoppers, resulting in more revenue and higher profit margins. Learn more by visiting https://www.pricespider.com.