The online marketplace began in the 90's with companies launching simple e-commerce sites .....this has morphed into companies creating "complex omnichannel solutions and marketplace ecosystems that improve customer engagement and increase revenue streams, conversion and return on ad spend". Now, social commerce, which enables people to purchase directly through social media platforms such as Facebook, Instagram, TikTok, YouTube, Pinterest, and sites like WhatsApp, is poised for tremendous and rapid growth. 

The rise of social commerce means brands need to expand their social media content, channels, and processes to enable the full customer journey from awareness building to actual purchase. The article points out that not only does this position businesses for growth, but it also aids with adapting to changing cookie policies and tighter, worldwide privacy regulations. It also points out that to create a healthy and seamless social media commerce funnel, businesses will need to refocus their teams, creative energy, and potentially their tech platforms.

Read the full article here. It's worth the time! https://www.pwc.com/us/en/services/consulting/business-transformation/library/social-commerce.html