![\"Products](\"https://www.pymnts.com/wp-content/uploads/2024/08/Products-consumers-buy-on-social-media.png\")
TikTok says its streaming music service won\u2019t be around for much longer.
\n\u201cWe are sorry to inform you that TikTok Music will be closing on 28 November 2024,\u201d the video sharing media platform said in a post on its website. \u201cWe would like to thank you for all of your support, and we hope you enjoyed the music.\u201d
\nFollowing Nov. 28, users will no longer be able to access their TikTok Music login, subscriptions and other functionalities, the company said, giving them until Oct. 28 to transfer their playlists. Users have until Nov. 28 to request refunds.
\n\u201cPlease note, your TikTok Music account information and personal data will be automatically deleted following the closure of TikTok Music,\u201d the announcement said.
\nThe company\u2019s decision was flagged in a report Tuesday (Sept. 24) by Bloomberg News, which notes that TikTok Music was created by TikTok owner ByteDance to capitalize on the platform\u2019s reach and popularity with music fans.
\nThe report added that while videos on TikTok have helped fuel the rise of some hit songs and artists, the service has also led to complaints from record companies seeking payment for the use of their clips.
\nThis year saw a dispute between Universal Music Group (UMG) and TikTok, which led to users losing access to songs by popular artists like Taylor Swift and Billie Eilish, who removed from TikTok following the breakdown of contract negotiations between the two companies.
\nIn other TikTok news, PYMNTS wrote earlier this month about the platform\u2019s birth of a virtual trend known as \u201cgrocery store tourism.\u201d
\nThe source of this trend has been widely attributed to TikTok user @marissainchina, who posted a video in late spring in which she claimed:
\n\u201cThis may be controversial, but I think the best thing to do while traveling is go to the grocery store. \u2026 Going to a grocery store could technically be counted as sightseeing, right? Because not only is it a cultural experience, but you can also find lots of stuff to bring back as souvenirs.\u201d
\nAs PYMNTS noted, the trend comes as consumers increasingly turn to social media to get inspiration about what products and experiences on which to splurge.
\nThe 2023 PYMNTS Intelligence report \u201cTracking the Digital Payments Takeover: Monetizing Social Media\u201d found that 43% of consumers use social platforms to find goods and services, a figure that climbs to roughly two-thirds for Generation Z and millennial consumers.
\nThe post TikTok Pulling Plug on Streaming Music Service appeared first on PYMNTS.com.
\n", "content_text": "TikTok says its streaming music service won\u2019t be around for much longer.\n\u201cWe are sorry to inform you that TikTok Music will be closing on 28 November 2024,\u201d the video sharing media platform said in a post on its website. \u201cWe would like to thank you for all of your support, and we hope you enjoyed the music.\u201d\nFollowing Nov. 28, users will no longer be able to access their TikTok Music login, subscriptions and other functionalities, the company said, giving them until Oct. 28 to transfer their playlists. Users have until Nov. 28 to request refunds.\n\u201cPlease note, your TikTok Music account information and personal data will be automatically deleted following the closure of TikTok Music,\u201d the announcement said.\nThe company\u2019s decision was flagged in a report Tuesday (Sept. 24) by Bloomberg News, which notes that TikTok Music was created by TikTok owner ByteDance to capitalize on the platform\u2019s reach and popularity with music fans.\nThe report added that while videos on TikTok have helped fuel the rise of some hit songs and artists, the service has also led to complaints from record companies seeking payment for the use of their clips.\nThis year saw a dispute between Universal Music Group (UMG) and TikTok, which led to users losing access to songs by popular artists like Taylor Swift and Billie Eilish, who removed from TikTok following the breakdown of contract negotiations between the two companies.\nIn other TikTok news, PYMNTS wrote earlier this month about the platform\u2019s birth of a virtual trend known as \u201cgrocery store tourism.\u201d\nThe source of this trend has been widely attributed to TikTok user @marissainchina, who posted a video in late spring in which she claimed:\n\u201cThis may be controversial, but I think the best thing to do while traveling is go to the grocery store. \u2026 Going to a grocery store could technically be counted as sightseeing, right? Because not only is it a cultural experience, but you can also find lots of stuff to bring back as souvenirs.\u201d\nAs PYMNTS noted, the trend comes as consumers increasingly turn to social media to get inspiration about what products and experiences on which to splurge.\nThe 2023 PYMNTS Intelligence report \u201cTracking the Digital Payments Takeover: Monetizing Social Media\u201d found that 43% of consumers use social platforms to find goods and services, a figure that climbs to roughly two-thirds for Generation Z and millennial consumers.\nThe post TikTok Pulling Plug on Streaming Music Service appeared first on PYMNTS.com.", "date_published": "2024-09-24T11:29:12-04:00", "date_modified": "2024-09-24T11:29:12-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/05/TikTok-4.jpg", "tags": [ "Bytedance", "Music", "music streaming", "News", "PYMNTS News", "social commerce", "Social Media", "streaming music", "TikTok", "TikTok Music", "Universal Music Group", "What's Hot", "Social Commerce" ] }, { "id": "https://www.pymnts.com/?p=2100103", "url": "https://www.pymnts.com/news/social-commerce/2024/ltk-offers-creators-a-co-pilot-to-reduce-workloads/", "title": "LTK Offers Creators a \u2018Co-Pilot\u2019 to Reduce Workloads", "content_html": "Creator commerce platform\u00a0LTK\u00a0has introduced a suite of business management tools.
\nLTK Co-Pilot,\u00a0announced\u00a0Monday (Sept. 16), is designed to allow creators to spend less time on content creation and community management.
\n\u201cThe job of a creator is never-ending and incredibly time-consuming \u2014 they are often covering what an entire company does by themselves,\u201d\u00a0Kit Ulrich, general manager of LTK\u2019s Creator Shopping Platform, said in a news release.
\n\u201cThat\u2019s why we\u2019re launching LTK Co-Pilot \u2014 their partner, always working behind the scenes, to help them work faster and monetize better on the LTK platform.\u201d
\nAccording to the release, a subset of the Co-Pilot features artificial intelligence (AI)-powered tools, such as \u201cAuto-Tag Products,\u201d which uses AI to \u201cautomatically detect, identify and suggest products in a creator\u2019s photo from the products saved in the creator\u2019s folders.\u201d
\nThere are also AI tools that let creators instantly add products to their LTK and a tool that automatically generates video captions.
\n\u201cSince 50% of videos on LTK are being watched on mute, this new feature allows a creator\u2019s community to fully enjoy a creator\u2019s video content for maximum impact,\u201d the company said. \u201cCaptions can easily be disabled by shoppers by either long-pressing or tapping the captions, to toggle off.\u201d
\nThe launch follows the recent announcement of what LTK called\u00a0\u201cmajor\u201d updates\u00a0to its creator app, including one that lets creators access all available commission rates on the platform.
\n\u201cCreators have transformed the retail industry \u2014 becoming a preferred way for millions of people to discover and shop, resulting in billions in sales,\u201d Ulrich said at the time. \u201cAs more retailers and brands recognize the value of partnering with creators, LTK is helping creators embrace this pivotal moment.\u201d
\nThe company also said this summer it was transforming its app to be\u00a0video-first, with the introduction of a shoppable video feed called Full-Screen Continuous Video and a new content guide called Daily Drops.
\nMeanwhile, PYMNTS recently explored the rise of companies such as Bump, which aim to help creators access financing, by using creators\u2019 income and real-time market value.
\n\u201cAccess to business\u00a0loans and lines of credit\u00a0are virtually nonexistent,\u201d James Jones, founder and CEO at Bump, told PYMNTS in an interview. \u201cMost creators are denied access because they don\u2019t have pay stubs or W2s, or because their income is just too unpredictable for traditional institutions with very little appetite for risk.\u201d
\nThe post LTK Offers Creators a \u2018Co-Pilot\u2019 to Reduce Workloads appeared first on PYMNTS.com.
\n", "content_text": "Creator commerce platform\u00a0LTK\u00a0has introduced a suite of business management tools.\nLTK Co-Pilot,\u00a0announced\u00a0Monday (Sept. 16), is designed to allow creators to spend less time on content creation and community management.\n\u201cThe job of a creator is never-ending and incredibly time-consuming \u2014 they are often covering what an entire company does by themselves,\u201d\u00a0Kit Ulrich, general manager of LTK\u2019s Creator Shopping Platform, said in a news release.\n\u201cThat\u2019s why we\u2019re launching LTK Co-Pilot \u2014 their partner, always working behind the scenes, to help them work faster and monetize better on the LTK platform.\u201d\nAccording to the release, a subset of the Co-Pilot features artificial intelligence (AI)-powered tools, such as \u201cAuto-Tag Products,\u201d which uses AI to \u201cautomatically detect, identify and suggest products in a creator\u2019s photo from the products saved in the creator\u2019s folders.\u201d\nThere are also AI tools that let creators instantly add products to their LTK and a tool that automatically generates video captions.\n\u201cSince 50% of videos on LTK are being watched on mute, this new feature allows a creator\u2019s community to fully enjoy a creator\u2019s video content for maximum impact,\u201d the company said. \u201cCaptions can easily be disabled by shoppers by either long-pressing or tapping the captions, to toggle off.\u201d\nThe launch follows the recent announcement of what LTK called\u00a0\u201cmajor\u201d updates\u00a0to its creator app, including one that lets creators access all available commission rates on the platform.\n\u201cCreators have transformed the retail industry \u2014 becoming a preferred way for millions of people to discover and shop, resulting in billions in sales,\u201d Ulrich said at the time. \u201cAs more retailers and brands recognize the value of partnering with creators, LTK is helping creators embrace this pivotal moment.\u201d\nThe company also said this summer it was transforming its app to be\u00a0video-first, with the introduction of a shoppable video feed called Full-Screen Continuous Video and a new content guide called Daily Drops.\nMeanwhile, PYMNTS recently explored the rise of companies such as Bump, which aim to help creators access financing, by using creators\u2019 income and real-time market value.\n\u201cAccess to business\u00a0loans and lines of credit\u00a0are virtually nonexistent,\u201d James Jones, founder and CEO at Bump, told PYMNTS in an interview. \u201cMost creators are denied access because they don\u2019t have pay stubs or W2s, or because their income is just too unpredictable for traditional institutions with very little appetite for risk.\u201d\nThe post LTK Offers Creators a \u2018Co-Pilot\u2019 to Reduce Workloads appeared first on PYMNTS.com.", "date_published": "2024-09-16T16:11:49-04:00", "date_modified": "2024-09-16T16:11:49-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/LTK-creators-co-pilot.png", "tags": [ "AI", "artificial intelligence", "creator economy", "creator platforms", "LTK", "News", "PYMNTS News", "social commerce", "Social Media", "What's Hot", "Social Commerce" ] }, { "id": "https://www.pymnts.com/?p=2094743", "url": "https://www.pymnts.com/news/social-commerce/2024/ltk-offers-creators-more-control-over-commissions/", "title": "LTK Offers Creators More Control Over Commissions", "content_html": "Creator commerce platform LTK says it\u2019s giving creators more control over their earnings.
\nThe company on Thursday (Sept. 5) announced what it called \u201cmajor\u201d updates to its creator app, including one that gives creators access to all available commission rates on the platform.
\n\u201cCreators have transformed the retail industry \u2014 becoming a preferred way for millions of people to discover and shop, resulting in billions in sales,\u201d Kit Ulrich, general manager of LTK\u2019s Creator Shopping Platform, said in a news release. \u201cAs more retailers and brands recognize the value of partnering with creators, LTK is helping creators embrace this pivotal moment.\u201d
\nAmong the news tools is Product Commission Comparison, giving creators access to all available commission rates for products.
\n\u201cBy tapping on a product in the app, creators can now scroll to view the available rates offered by brands and retailers, and can easily find and select the best partner for them and their community,\u201d the release said.
\nThere\u2019s also a new search tab that gives creators a new way to discover brands and products directly from the LTK creator app, \u201ccreating a more efficient content posting experience and helping boost earnings,\u201d the company said.
\nCreators can now browse 13 different product categories and five features, with an artificial intelligence (AI)-powered search letting them search through more than 450 million items.
\nThe announcement comes weeks after LTK said it was transforming its app to be video-first, with the addition of a shoppable video feed called Full-Screen Continuous Video and a new content guide called Daily Drops.
\n\u201cVideo is critical for creators, and by transforming the LTK app into a video-first platform, LTK is helping our creators earn more by directly catering to shoppers\u2019 preferences,\u201d Ulrich said at the time, with the company noting that video posts gain double the sales, bring 64% more click-outs to retailers\u2019 sites and apps to shop, and add 46% to creators\u2019 earnings.
\nMeanwhile, PYMNTS recently looked at the rise of companies such as Bump, which aim to help creators access financing, by leveraging creators\u2019 income and real-time market value.
\n\u201cAccess to business loans and lines of credit are virtually nonexistent,\u201d James Jones, founder and CEO at Bump, told PYMNTS in a recent interview. \u201cMost creators are denied access because they don\u2019t have paystubs or W2s, or because their income is just too unpredictable for traditional institutions with very little appetite for risk.\u201d
\nThe post LTK Offers Creators More Control Over Commissions appeared first on PYMNTS.com.
\n", "content_text": "Creator commerce platform LTK says it\u2019s giving creators more control over their earnings.\nThe company on Thursday (Sept. 5) announced what it called \u201cmajor\u201d updates to its creator app, including one that gives creators access to all available commission rates on the platform.\n\u201cCreators have transformed the retail industry \u2014 becoming a preferred way for millions of people to discover and shop, resulting in billions in sales,\u201d Kit Ulrich, general manager of LTK\u2019s Creator Shopping Platform, said in a news release. \u201cAs more retailers and brands recognize the value of partnering with creators, LTK is helping creators embrace this pivotal moment.\u201d\nAmong the news tools is Product Commission Comparison, giving creators access to all available commission rates for products.\n\u201cBy tapping on a product in the app, creators can now scroll to view the available rates offered by brands and retailers, and can easily find and select the best partner for them and their community,\u201d the release said.\nThere\u2019s also a new search tab that gives creators a new way to discover brands and products directly from the LTK creator app, \u201ccreating a more efficient content posting experience and helping boost earnings,\u201d the company said.\nCreators can now browse 13 different product categories and five features, with an artificial intelligence (AI)-powered search letting them search through more than 450 million items.\nThe announcement comes weeks after LTK said it was transforming its app to be video-first, with the addition of a shoppable video feed called Full-Screen Continuous Video and a new content guide called Daily Drops.\n\u201cVideo is critical for creators, and by transforming the LTK app into a video-first platform, LTK is helping our creators earn more by directly catering to shoppers\u2019 preferences,\u201d Ulrich said at the time, with the company noting that video posts gain double the sales, bring 64% more click-outs to retailers\u2019 sites and apps to shop, and add 46% to creators\u2019 earnings.\nMeanwhile, PYMNTS recently looked at the rise of companies such as Bump, which aim to help creators access financing, by leveraging creators\u2019 income and real-time market value.\n\u201cAccess to business loans and lines of credit are virtually nonexistent,\u201d James Jones, founder and CEO at Bump, told PYMNTS in a recent interview. \u201cMost creators are denied access because they don\u2019t have paystubs or W2s, or because their income is just too unpredictable for traditional institutions with very little appetite for risk.\u201d\nThe post LTK Offers Creators More Control Over Commissions appeared first on PYMNTS.com.", "date_published": "2024-09-05T17:14:52-04:00", "date_modified": "2024-09-05T17:14:52-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/LTK-content-creators-shoppable-videos.png", "tags": [ "commissions", "content creator", "creator economy", "creators", "ecommerce", "LTK", "News", "PYMNTS News", "shoppable videos", "What's Hot", "Social Commerce" ] }, { "id": "https://www.pymnts.com/?p=2055677", "url": "https://www.pymnts.com/news/social-commerce/2024/ltk-adds-new-customization-features-to-automatic-direct-message-tool/", "title": "LTK Adds New Customization Features to Automatic Direct Message Tool", "content_html": "LTK has added new customization features and access to weekly payouts to its Creator Commerce platform.
\nThe new customization features allow the users of LTK DM, the platform\u2019s automatic direct message tool for LTK Creators, to personalize up to 10 trigger words per Instagram post along with the direct messages the members of their community receive, LTK said in a Tuesday (Aug. 20) press release.
\nWhen the LTK DM tool was launched in June, it had one trigger word: \u201cShop.\u201d This tool was designed to make it easier for creators to share the shopping details of their Instagram posts with their community, as those who comment \u201cShop\u201d on a post will immediately receive an automated direct message that includes a direct link to the creator\u2019s LTK.
\nNow, with the ability to personalize the trigger words and direct messages for their community, creators can engage with their community in new ways, according to the Tuesday press release.
\n\u201cFor example, LTK Creators can create a poll with their community by commenting with a specific number that corresponds to a particular look or select a custom trigger word for each product in the post,\u201d the release said. \u201cCreators then see which product or look is most popular.\u201d
\nSince its launch, LTK DM has driven a 122% increase in the number of shopper clicks to retailers from tagged products, per the release.
\nAnother new addition to the LTK Creator Commerce platform is weekly payouts for creators\u2019 commissions, according to the release.
\nLTK\u2019s platform enables creators to establish personalized storefronts featuring carefully curated products from various brands, Kit Ulrich, general manager of creator shopping at LTK, told PYMNTS CEO Karen Webster in an interview posted in October 2023.
\n\u201cOur platform is completely built for all of the creators that we have on it,\u201d Ulrich said. \u201cIn fact, one of the reasons that I love \u2014 and we love \u2014 being at LTK is that we are all here at this company to help our creators make the most money possible.\u201d
\nThe latest news from LTK comes about a month after the company said it added a new shoppable video feed called Full-Screen Continuous Video and a new content guide called Daily Drops.
\nThe post LTK Adds New Customization Features to Automatic Direct Message Tool appeared first on PYMNTS.com.
\n", "content_text": "LTK has added new customization features and access to weekly payouts to its Creator Commerce platform.\nThe new customization features allow the users of LTK DM, the platform\u2019s automatic direct message tool for LTK Creators, to personalize up to 10 trigger words per Instagram post along with the direct messages the members of their community receive, LTK said in a Tuesday (Aug. 20) press release.\nWhen the LTK DM tool was launched in June, it had one trigger word: \u201cShop.\u201d This tool was designed to make it easier for creators to share the shopping details of their Instagram posts with their community, as those who comment \u201cShop\u201d on a post will immediately receive an automated direct message that includes a direct link to the creator\u2019s LTK.\nNow, with the ability to personalize the trigger words and direct messages for their community, creators can engage with their community in new ways, according to the Tuesday press release.\n\u201cFor example, LTK Creators can create a poll with their community by commenting with a specific number that corresponds to a particular look or select a custom trigger word for each product in the post,\u201d the release said. \u201cCreators then see which product or look is most popular.\u201d\nSince its launch, LTK DM has driven a 122% increase in the number of shopper clicks to retailers from tagged products, per the release.\nAnother new addition to the LTK Creator Commerce platform is weekly payouts for creators\u2019 commissions, according to the release.\nLTK\u2019s platform enables creators to establish personalized storefronts featuring carefully curated products from various brands, Kit Ulrich, general manager of creator shopping at LTK, told PYMNTS CEO Karen Webster in an interview posted in October 2023.\n\u201cOur platform is completely built for all of the creators that we have on it,\u201d Ulrich said. \u201cIn fact, one of the reasons that I love \u2014 and we love \u2014 being at LTK is that we are all here at this company to help our creators make the most money possible.\u201d\nThe latest news from LTK comes about a month after the company said it added a new shoppable video feed called Full-Screen Continuous Video and a new content guide called Daily Drops.\nThe post LTK Adds New Customization Features to Automatic Direct Message Tool appeared first on PYMNTS.com.", "date_published": "2024-08-20T15:42:09-04:00", "date_modified": "2024-08-20T15:42:09-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/LTK-social-commerce.jpg", "tags": [ "automatic direct message", "ecommerce", "Influencers", "Kit Ulrich", "LTK", "LTK Creators", "LTK DM", "News", "personalization", "PYMNTS News", "Retail", "social commerce", "trigger words", "What's Hot", "Social Commerce" ] }, { "id": "https://www.pymnts.com/?p=2053708", "url": "https://www.pymnts.com/news/social-commerce/2024/reddits-focus-on-partnerships-dynamic-product-ads-drive-surge-in-ad-revenue-daily-users/", "title": "Reddit\u2019s Focus on Partnerships, Dynamic Product Ads Drive Surge in Ad Revenue, Daily Users", "content_html": "Reddit, the digital forum renowned for its diverse user-generated content, is advancing its presence in the advertising sector through a strategic focus on its community dynamics. Its\u00a0second-quarter results show the company\u2019s digital advertising strategy is enhancing revenue growth and transforming brand engagement practices on social media.
\nDuring the second quarter, Reddit reported a surge in both user engagement and ad revenue, the latter rising 41% year over year, to $253.1 million. The platform\u2019s user base soared to more than 342 million active users, with daily active users reaching 91 million\u2014an increase of more than 50% year over year.
\nThis surge is attributed to the growing appeal of Reddit\u2019s varied content and its role as a trusted source of information and community interaction. With user numbers increasing, company officials are evolving their digital advertising strategies.
\nReddit COO Jen Wong noted during the earnings call the growth reflects not only a recovery in the digital ad market, but also the company\u2019s strategic enhancements in its advertising technology and market reach. Reddit has made significant strides in scaling and diversifying its ad offerings, she noted. The platform has broadened its partnerships, expanded into new verticals, and enhanced its ad technology to drive efficiency and performance.
\n\u201cWe continue to diversify our business across channels, verticals and geographies,\u201d Wong explained. \u201cThe global scale channel, including mid-market and SMB, grew over 50% year over year, driven by both new advertiser activation and by deepening existing relationships. Strength in our verticals was led by retail, pharma and financial services, which each grew over 50% year over year.\u201d
\nPerformance objectives, Wong said, \u201cdrove more than half of our revenue in the quarter, and we more than doubled the number of clicks again as we continue to enhance the lower funnel capabilities of our full funnel advertising business.\u201d
\nReddit is ramping up its ad revenue by partnering with top sports leagues, including the NFL, NBA, MLB, NASCAR, and PGA Tour. The deals will enhance Reddit\u2019s sports content with exclusive video highlights, player AMAs, and behind-the-scenes footage. This move aligns with Reddit\u2019s strategy to attract advertisers by leveraging its growing sports communities, which increased 26% year over year.
\nReddit\u2019s recent test with the NFL saw increases in brand metrics, showcasing the platform\u2019s potential for targeted ad campaigns. Since going public in March, Reddit has pursued partnerships, including a May deal with OpenAI. The agreement allows OpenAI to use Reddit content for training its AI models, while OpenAI will also become a Reddit advertiser.
\nThis collaboration aims to enhance Reddit\u2019s ad offerings by incorporating advanced AI-driven tools and models. \u201cWe are adding AI foundational models to our ad stack to help optimize creative,\u201d Wong explained.
\nReddit\u2019s advertising strategy features the introduction of dynamic product ads (DPA), which aim to provide highly personalized ad experiences. \u201cDynamic product ads operate with their own objectives, models and workflows,\u201d Wong noted. These ads manage everything from catalog ingestion to detailed measurement and targeted feedback. Early adopters have reported a return on ad spend nearly twice that of other conversion campaigns.
\n\u201cOur goal for this year is to test with a handful of partners and really build the foundations of DPA,\u201d she added, with expectations for DPA to contribute to revenue by 2025.
\nThe post Reddit\u2019s Focus on Partnerships, Dynamic Product Ads Drive Surge in Ad Revenue, Daily Users appeared first on PYMNTS.com.
\n", "content_text": "Reddit, the digital forum renowned for its diverse user-generated content, is advancing its presence in the advertising sector through a strategic focus on its community dynamics. Its\u00a0second-quarter results show the company\u2019s digital advertising strategy is enhancing revenue growth and transforming brand engagement practices on social media.\nDuring the second quarter, Reddit reported a surge in both user engagement and ad revenue, the latter rising 41% year over year, to $253.1 million. The platform\u2019s user base soared to more than 342 million active users, with daily active users reaching 91 million\u2014an increase of more than 50% year over year. \nThis surge is attributed to the growing appeal of Reddit\u2019s varied content and its role as a trusted source of information and community interaction. With user numbers increasing, company officials are evolving their digital advertising strategies.\nReddit COO Jen Wong noted during the earnings call the growth reflects not only a recovery in the digital ad market, but also the company\u2019s strategic enhancements in its advertising technology and market reach. Reddit has made significant strides in scaling and diversifying its ad offerings, she noted. The platform has broadened its partnerships, expanded into new verticals, and enhanced its ad technology to drive efficiency and performance.\n\u201cWe continue to diversify our business across channels, verticals and geographies,\u201d Wong explained. \u201cThe global scale channel, including mid-market and SMB, grew over 50% year over year, driven by both new advertiser activation and by deepening existing relationships. Strength in our verticals was led by retail, pharma and financial services, which each grew over 50% year over year.\u201d\nPerformance objectives, Wong said, \u201cdrove more than half of our revenue in the quarter, and we more than doubled the number of clicks again as we continue to enhance the lower funnel capabilities of our full funnel advertising business.\u201d\nReddit is ramping up its ad revenue by partnering with top sports leagues, including the NFL, NBA, MLB, NASCAR, and PGA Tour. The deals will enhance Reddit\u2019s sports content with exclusive video highlights, player AMAs, and behind-the-scenes footage. This move aligns with Reddit\u2019s strategy to attract advertisers by leveraging its growing sports communities, which increased 26% year over year.\nReddit\u2019s recent test with the NFL saw increases in brand metrics, showcasing the platform\u2019s potential for targeted ad campaigns. Since going public in March, Reddit has pursued partnerships, including a May deal with OpenAI. The agreement allows OpenAI to use Reddit content for training its AI models, while OpenAI will also become a Reddit advertiser.\nThis collaboration aims to enhance Reddit\u2019s ad offerings by incorporating advanced AI-driven tools and models. \u201cWe are adding AI foundational models to our ad stack to help optimize creative,\u201d Wong explained.\nReddit\u2019s advertising strategy features the introduction of dynamic product ads (DPA), which aim to provide highly personalized ad experiences. \u201cDynamic product ads operate with their own objectives, models and workflows,\u201d Wong noted. These ads manage everything from catalog ingestion to detailed measurement and targeted feedback. Early adopters have reported a return on ad spend nearly twice that of other conversion campaigns.\n\u201cOur goal for this year is to test with a handful of partners and really build the foundations of DPA,\u201d she added, with expectations for DPA to contribute to revenue by 2025.\nThe post Reddit\u2019s Focus on Partnerships, Dynamic Product Ads Drive Surge in Ad Revenue, Daily Users appeared first on PYMNTS.com.", "date_published": "2024-08-15T19:45:33-04:00", "date_modified": "2024-08-15T19:45:33-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/Reddit-earnings.jpg", "tags": [ "AI", "artificial intelligence", "DPA", "Dynamic Product Ads", "Earnings", "Jen Wong", "News", "partnerships", "PYMNTS News", "Reddit", "social commerce", "Social Commerce" ] }, { "id": "https://www.pymnts.com/?p=2052847", "url": "https://www.pymnts.com/news/social-commerce/2024/nfl-ups-its-social-media-game-with-kansas-city-chiefs-leading-digital-surge/", "title": "NFL Ups Its Social Media Game With Kansas City Chiefs Leading Digital Surge", "content_html": "As if being two-time defending Super Bowl champions isn\u2019t enough, the Kansas City Chiefs have set a new standard in the NFL\u2019s digital arena as the National Football League has upped its collective social media game.
\nNFL teams are enhancing their digital presence through several approaches. They are rolling out digital campaigns that include exclusive behind-the-scenes content and real-time updates to keep fans actively engaged. Teams are also investing in upgrades to their mobile apps and websites, improving fan access to ticketing, merchandise and live streaming options.
\nBased on the 2023 season, the Chiefs gained an average of 103,028 new followers per game, culminating in a total increase of 1.75 million new followers. This growth represents a nearly 21% rise in their social media following, demonstrating their dominance in digital engagement. As of March, the Chiefs had a total of 2 million likes on Facebook and 2.56 million followers on their official Twitter page.
\nThe Chiefs\u2019 remarkable growth is partly due to extensive media coverage of singer Taylor Swift\u2019s relationship with Travis Kelce. This celebrity connection has expanded the team\u2019s audience, showcasing how pop culture can elevate a team\u2019s visibility.
\nAnd the Chiefs\u2019 popularity isn\u2019t confined to the United States. Internationally, the team has experienced growth, highlighted by a 20% increase in merchandise sales and a surge in social media followers, driven by the \u201cSwift Effect.\u201d
\n\u201cThere\u2019s no doubt that her [Swift] being a fan has put a more intense focus on the team than we would have had otherwise and has opened up the fan base to a whole new demographic that we didn\u2019t really have,\u201d Chiefs Chair & CEO Clark Hunt stated.
\nThe NFL has identified the Chiefs, along with the Patriots, as the \u201cmost popular teams in Germany,\u201d and the Chiefs have surpassed the Cowboys for the \u201ctop dedicated Instagram following\u201d in Mexico. In fact, the Chiefs\u2019 Week 9 game in Frankfurt last year was the most-viewed international NFL game.
\nRemarkably, the total number of followers across all 32 NFL teams grew by 15.47 million, rising from 172.41 million in September 2023, to 187.88 million on Feb. 14, 2024.
\nSpecifically, the Miami Dolphins recorded a nearly 16% increase in their online fan base, adding more than 650,000 new followers, or an average of 38,293 per game. They rank fifth in follower growth among NFL teams.
\nThe Philadelphia Eagles and San Francisco 49ers have also seen growth, with 91,666 and 43,331 new followers per game, respectively. Their digital strategies have boosted fan engagement. Additionally, the Dallas Cowboys, Detroit Lions\u00a0and Baltimore Ravens have expanded their follower counts through digital strategies and on-field performances.
\nThe NFL is leading advancements in sports technology through its new Innovation Hub, which aims to transform the game and enhance the fan experience. The Hub focuses on improving player safety, game analytics and fan engagement by integrating new technologies. Key initiatives include enhancing game operations and creating immersive experiences for fans. By adopting these innovations, the NFL seeks to set new industry standards and maintain its leadership in the sports world.
\nBy leveraging data analytics, teams are offering personalized experiences and targeted promotions, which are designed to boost fan interaction. Efforts to expand globally are also underway, with strategic marketing initiatives broadening teams\u2019 international reach and growing their global fan bases. Additionally, teams are creating a seamless fan experience by integrating their social media, mobile apps, and in-stadium activities into a cohesive digital ecosystem.
\nThe post NFL Ups Its Social Media Game With Kansas City Chiefs Leading Digital Surge appeared first on PYMNTS.com.
\n", "content_text": "As if being two-time defending Super Bowl champions isn\u2019t enough, the Kansas City Chiefs have set a new standard in the NFL\u2019s digital arena as the National Football League has upped its collective social media game.\nNFL teams are enhancing their digital presence through several approaches. They are rolling out digital campaigns that include exclusive behind-the-scenes content and real-time updates to keep fans actively engaged. Teams are also investing in upgrades to their mobile apps and websites, improving fan access to ticketing, merchandise and live streaming options.\nBy the Numbers\nBased on the 2023 season, the Chiefs gained an average of 103,028 new followers per game, culminating in a total increase of 1.75 million new followers. This growth represents a nearly 21% rise in their social media following, demonstrating their dominance in digital engagement. As of March, the Chiefs had a total of 2 million likes on Facebook and 2.56 million followers on their official Twitter page.\nThe Chiefs\u2019 remarkable growth is partly due to extensive media coverage of singer Taylor Swift\u2019s relationship with Travis Kelce. This celebrity connection has expanded the team\u2019s audience, showcasing how pop culture can elevate a team\u2019s visibility.\nAnd the Chiefs\u2019 popularity isn\u2019t confined to the United States. Internationally, the team has experienced growth, highlighted by a 20% increase in merchandise sales and a surge in social media followers, driven by the \u201cSwift Effect.\u201d\n\u201cThere\u2019s no doubt that her [Swift] being a fan has put a more intense focus on the team than we would have had otherwise and has opened up the fan base to a whole new demographic that we didn\u2019t really have,\u201d Chiefs Chair & CEO Clark Hunt stated. \nThe NFL has identified the Chiefs, along with the Patriots, as the \u201cmost popular teams in Germany,\u201d and the Chiefs have surpassed the Cowboys for the \u201ctop dedicated Instagram following\u201d in Mexico. In fact, the Chiefs\u2019 Week 9 game in Frankfurt last year was the most-viewed international NFL game.\nRemarkably, the total number of followers across all 32 NFL teams grew by 15.47 million, rising from 172.41 million in September 2023, to 187.88 million on Feb. 14, 2024.\nSpecifically, the Miami Dolphins recorded a nearly 16% increase in their online fan base, adding more than 650,000 new followers, or an average of 38,293 per game. They rank fifth in follower growth among NFL teams.\nThe Philadelphia Eagles and San Francisco 49ers have also seen growth, with 91,666 and 43,331 new followers per game, respectively. Their digital strategies have boosted fan engagement. Additionally, the Dallas Cowboys, Detroit Lions\u00a0and Baltimore Ravens have expanded their follower counts through digital strategies and on-field performances.\nTech and Data Strategies\nThe NFL is leading advancements in sports technology through its new Innovation Hub, which aims to transform the game and enhance the fan experience. The Hub focuses on improving player safety, game analytics and fan engagement by integrating new technologies. Key initiatives include enhancing game operations and creating immersive experiences for fans. By adopting these innovations, the NFL seeks to set new industry standards and maintain its leadership in the sports world.\nBy leveraging data analytics, teams are offering personalized experiences and targeted promotions, which are designed to boost fan interaction. Efforts to expand globally are also underway, with strategic marketing initiatives broadening teams\u2019 international reach and growing their global fan bases. Additionally, teams are creating a seamless fan experience by integrating their social media, mobile apps, and in-stadium activities into a cohesive digital ecosystem.\nThe post NFL Ups Its Social Media Game With Kansas City Chiefs Leading Digital Surge appeared first on PYMNTS.com.", "date_published": "2024-08-14T19:14:45-04:00", "date_modified": "2024-08-14T19:14:45-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/Kansas-City-Chiefs-NFL-social-media.jpg", "tags": [ "Clark Hunt", "data analytics", "digital transformation", "innovation hub", "Kansas City Chiefs", "News", "NFL", "pro football", "PYMNTS News", "social commerce", "Social Media", "Taylor Swift", "travis kelce", "Social Commerce" ] }, { "id": "https://www.pymnts.com/?p=2052431", "url": "https://www.pymnts.com/news/social-commerce/2024/creators-nontraditional-platforms-substack-luxury-social-commerce/", "title": "Creators Turn to Nontraditional Platforms Like Substack for Luxury Social Commerce", "content_html": "As influencers experiment with the best platforms to monetize their followings, some find that to reach a luxury audience, Instagram and TikTok do not quite cut it.
\nCaley-Rae Pavillard, an influencer and vice president of business development and partnerships at social monetization company ShopMy, told PYMNTS that alternate platforms are emerging in the space.
\n\u201cFor luxury fashion creators, \u2026 Substack is really the platform that we see,\u201d Pavillard said. \u201cCreators that have the ability to convert on that higher price point or higher AOV do much better. \u2026The conversions are so much higher on Substack because people have already committed to subscribing to you, whether free or paid, and they\u2019re really invested in what you have to say as a creator.\u201d
\nSupplemental research from the PYMNTS Intelligence study \u201cTracking the Digital Payments Takeover: Monetizing Social Media\u201d revealed that higher-income consumers are the most willing to buy from social media platforms. The findings showed that 22% of consumers who earn more than $100,000 annually purchased via social media in the 30 days before the survey, versus 14% of the population overall.
\nThe shifting dynamics between traditional social media platforms and alternative channels like Substack illustrate a broader evolution in consumer behavior, where trust and direct connection with content creators are becoming the key differentiators.
\nIn general, social commerce is transforming as consumers\u2019 desires and expectations evolve. Pavillard highlighted a shift in content efficacy where authenticity often trumps aesthetic perfection. The content that performs well is candid and relatable, resonating more deeply with audiences.
\n\u201c[Followers] don\u2019t really care if the lighting is great in the selfie or if it\u2019s a mirror selfie,\u201d Pavillard said. \u201cThey just want to understand where you\u2019re buying that top or where you\u2019re buying your jeans and what are the brands you\u2019re loving.\u201d
\nPavillard noted a consequent departure from the \u201cinfluencer\u201d label, which some find unappealing, toward a preference for \u201ccontent creator\u201d or \u201ccurator.\u201d The latter terms are meant to capture a more authentic, trust-based relationship with followers, who seek genuine recommendations over polished, highly produced posts.
\nPlatforms such as Instagram and TikTok have been impacting these changes. Pavillard observed that while Instagram Reels demand high effort and production time, the lack of clickable links limits their sales conversion potential. Conversely, Instagram Stories, with their direct links, offer a more effective sales channel.
\nSimilarly, TikTok\u2019s user experience has historically presented challenges in directing traffic off-platform, although the introduction of TikTok Shop has helped enhance monetization, depending on the market segment.
\n\u201c[TikTok Shop is] somewhat limited in terms of the brands you can work with as a creator,\u201d Pavillard said. \u201cSo, I think that\u2019s one we\u2019ll have to continue to keep an eye on and see how that develops.\u201d
\nAccording to the PYMNTS Intelligence report \u201cGeneration Zillennial: How They Shop,\u201d 13% of consumers nationwide reported making a purchase in the past month influenced at least in part by a social media personality or celebrity. This influence was even more pronounced among younger generations, with 28% of Generation Z and 22% of millennials reporting such purchases.
\nThe post Creators Turn to Nontraditional Platforms Like Substack for Luxury Social Commerce appeared first on PYMNTS.com.
\n", "content_text": "As influencers experiment with the best platforms to monetize their followings, some find that to reach a luxury audience, Instagram and TikTok do not quite cut it.\nCaley-Rae Pavillard, an influencer and vice president of business development and partnerships at social monetization company ShopMy, told PYMNTS that alternate platforms are emerging in the space.\n\u201cFor luxury fashion creators, \u2026 Substack is really the platform that we see,\u201d Pavillard said. \u201cCreators that have the ability to convert on that higher price point or higher AOV do much better. \u2026The conversions are so much higher on Substack because people have already committed to subscribing to you, whether free or paid, and they\u2019re really invested in what you have to say as a creator.\u201d\nSupplemental research from the PYMNTS Intelligence study \u201cTracking the Digital Payments Takeover: Monetizing Social Media\u201d revealed that higher-income consumers are the most willing to buy from social media platforms. The findings showed that 22% of consumers who earn more than $100,000 annually purchased via social media in the 30 days before the survey, versus 14% of the population overall.\nThe shifting dynamics between traditional social media platforms and alternative channels like Substack illustrate a broader evolution in consumer behavior, where trust and direct connection with content creators are becoming the key differentiators.\nIn general, social commerce is transforming as consumers\u2019 desires and expectations evolve. Pavillard highlighted a shift in content efficacy where authenticity often trumps aesthetic perfection. The content that performs well is candid and relatable, resonating more deeply with audiences.\n\u201c[Followers] don\u2019t really care if the lighting is great in the selfie or if it\u2019s a mirror selfie,\u201d Pavillard said. \u201cThey just want to understand where you\u2019re buying that top or where you\u2019re buying your jeans and what are the brands you\u2019re loving.\u201d\nPavillard noted a consequent departure from the \u201cinfluencer\u201d label, which some find unappealing, toward a preference for \u201ccontent creator\u201d or \u201ccurator.\u201d The latter terms are meant to capture a more authentic, trust-based relationship with followers, who seek genuine recommendations over polished, highly produced posts.\nPlatforms such as Instagram and TikTok have been impacting these changes. Pavillard observed that while Instagram Reels demand high effort and production time, the lack of clickable links limits their sales conversion potential. Conversely, Instagram Stories, with their direct links, offer a more effective sales channel.\nSimilarly, TikTok\u2019s user experience has historically presented challenges in directing traffic off-platform, although the introduction of TikTok Shop has helped enhance monetization, depending on the market segment.\n\u201c[TikTok Shop is] somewhat limited in terms of the brands you can work with as a creator,\u201d Pavillard said. \u201cSo, I think that\u2019s one we\u2019ll have to continue to keep an eye on and see how that develops.\u201d\nAccording to the PYMNTS Intelligence report \u201cGeneration Zillennial: How They Shop,\u201d 13% of consumers nationwide reported making a purchase in the past month influenced at least in part by a social media personality or celebrity. This influence was even more pronounced among younger generations, with 28% of Generation Z and 22% of millennials reporting such purchases.\nThe post Creators Turn to Nontraditional Platforms Like Substack for Luxury Social Commerce appeared first on PYMNTS.com.", "date_published": "2024-08-14T11:53:58-04:00", "date_modified": "2024-08-14T11:53:58-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/11/Substack.jpg", "tags": [ "Caley-Rae Pavillard", "Instagram", "Luxury", "News", "PYMNTS News", "ShopMy", "social commerce", "Social Media", "Substack", "TikTok", "Social Commerce" ] }, { "id": "https://www.pymnts.com/?p=2051238", "url": "https://www.pymnts.com/news/social-commerce/2024/girls-host-social-commerce-is-shifting-toward-more-personal-content/", "title": "@Girls Host: Social Commerce Is Influencing More Personal Content", "content_html": "As consumers increasingly look to social media to inspire their shopping, the social commerce space is becoming more and more about individual creators\u2019 personalities.
\nJillian Lenna, content creator at 10PM Curfew and host of the @girls page with more than 12 million TikTok followers and 7 million Instagram followers, said in an interview with PYMNTS that, rather than, say, reposted memes, social commerce is trending toward original, personal photos and videos.
\n\u201cOriginal content \u2026 is really where everything is moving,\u201d Lenna said. \u201cPeople want a voice. People want a personality. People want to feel safe when they’re looking at things. Like they know the [creator]. It\u2019s going into more of a personal instead of impersonal [space].\u201d
\nMany consumers, especially those in younger generations, are turning to social media platforms to inspire their buying if not to actually complete the purchase. The PYMNTS Intelligence study \u201cTracking the Digital Payments Takeover: Monetizing Social Media\u201d found that 43% of consumers (roughly 110 million people) search social media to find goods and services to buy. Plus, 14% of consumers (an estimated 36 million individuals) buy those goods and services through social media platforms.
\nThose shares increase considerably for millennials and Gen Z consumers. Supplemental research from the report revealed that 68% of Gen Z consumers searched for goods and services on social media in the month prior to being surveyed, as did 64% of millennials. Plus, 22% of both Gen Z and millennial consumers ultimately completed a purchase via these platforms in that period.
\nFor @girls, Lenna noted that, to gain build the kind of following needed for social commerce, it was key to offer consumers the chance to get that sense of the personal connection with the brand by providing someone they could latch onto.
\n\u201cWhen we first started building the page, it was really important for us to get a voice and have a presence \u2014 a face behind the page,\u201d Lenna said, adding that from there, when the page has collaborated with brands, it has felt \u201cmore organic\u201d to followers.
\nSure enough, PYMNTS Intelligence research bears out that younger shoppers often seek out individual creators to inspire their purchasing. The report \u201cGeneration Zillennial: How They Shop\u201d\u00a0found that 13% of consumers in the country said they had\u00a0made a purchase\u00a0in the last month at least partially because of a social media influencer or celebrity. That share grows more than twofold among Gen Z, where 28% said they had done so, as did 22% of millennials.
\nThe shift toward more personal and original content within social commerce illustrates the evolving expectations of consumers, especially among younger generations. As the data show, these shoppers are not just seeking products; they are seeking connections. Against this backdrop, as consumers seek parasocial relationships with creators, 10PM Curfew has been looking to highlight influencers\u2019 lives outside the social media space to create that sense of authenticity.
\n\u201cWe’ve been working on interviewing influencers and really allowing them to have a different voice,\u201d Lenna said, adding that this gives consumers the chance of \u201cseeing them outside of the social media realm that they\u2019re normally in.\u201d
\nThe post @Girls Host: Social Commerce Is Influencing More Personal Content appeared first on PYMNTS.com.
\n", "content_text": "As consumers increasingly look to social media to inspire their shopping, the social commerce space is becoming more and more about individual creators\u2019 personalities.\nJillian Lenna, content creator at 10PM Curfew and host of the @girls page with more than 12 million TikTok followers and 7 million Instagram followers, said in an interview with PYMNTS that, rather than, say, reposted memes, social commerce is trending toward original, personal photos and videos.\n\u201cOriginal content \u2026 is really where everything is moving,\u201d Lenna said. \u201cPeople want a voice. People want a personality. People want to feel safe when they’re looking at things. Like they know the [creator]. It\u2019s going into more of a personal instead of impersonal [space].\u201d\nMany consumers, especially those in younger generations, are turning to social media platforms to inspire their buying if not to actually complete the purchase. The PYMNTS Intelligence study \u201cTracking the Digital Payments Takeover: Monetizing Social Media\u201d found that 43% of consumers (roughly 110 million people) search social media to find goods and services to buy. Plus, 14% of consumers (an estimated 36 million individuals) buy those goods and services through social media platforms.\nThose shares increase considerably for millennials and Gen Z consumers. Supplemental research from the report revealed that 68% of Gen Z consumers searched for goods and services on social media in the month prior to being surveyed, as did 64% of millennials. Plus, 22% of both Gen Z and millennial consumers ultimately completed a purchase via these platforms in that period.\nFor @girls, Lenna noted that, to gain build the kind of following needed for social commerce, it was key to offer consumers the chance to get that sense of the personal connection with the brand by providing someone they could latch onto.\n\u201cWhen we first started building the page, it was really important for us to get a voice and have a presence \u2014 a face behind the page,\u201d Lenna said, adding that from there, when the page has collaborated with brands, it has felt \u201cmore organic\u201d to followers.\nSure enough, PYMNTS Intelligence research bears out that younger shoppers often seek out individual creators to inspire their purchasing. The report \u201cGeneration Zillennial: How They Shop\u201d\u00a0found that 13% of consumers in the country said they had\u00a0made a purchase\u00a0in the last month at least partially because of a social media influencer or celebrity. That share grows more than twofold among Gen Z, where 28% said they had done so, as did 22% of millennials.\nThe shift toward more personal and original content within social commerce illustrates the evolving expectations of consumers, especially among younger generations. As the data show, these shoppers are not just seeking products; they are seeking connections. Against this backdrop, as consumers seek parasocial relationships with creators, 10PM Curfew has been looking to highlight influencers\u2019 lives outside the social media space to create that sense of authenticity.\n\u201cWe’ve been working on interviewing influencers and really allowing them to have a different voice,\u201d Lenna said, adding that this gives consumers the chance of \u201cseeing them outside of the social media realm that they\u2019re normally in.\u201d\nThe post @Girls Host: Social Commerce Is Influencing More Personal Content appeared first on PYMNTS.com.", "date_published": "2024-08-12T16:24:14-04:00", "date_modified": "2024-08-12T20:34:46-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/social-commerce-personal.png", "tags": [ "10PM Curfew", "@girls page", "Featured News", "Generation Z", "Influencers", "Instagram", "Jillian Lenna", "Millennials", "News", "PYMNTS News", "Retail", "social commerce", "Social Media", "TikTok", "Social Commerce" ] }, { "id": "https://www.pymnts.com/?p=2050015", "url": "https://www.pymnts.com/news/social-commerce/2024/discover-points-to-social-commerce-as-example-of-shoppings-digital-transformation/", "title": "Discover Global Network Points to Social Commerce as Example of Shopping\u2019s Digital Transformation", "content_html": "The lines between social interaction and commerce are increasingly blurred, and they show no signs of separating, at least not anytime soon.
\n\u201cSocial commerce takes the entire shopping experience, from finding a product, researching it and paying for it, onto a social media platform,\u201d Discover\u00ae Global Network Global Head of Digital Acceptance Ellie Smith told PYMNTS.
\nThis phenomenon, which represents the seamless integration of social media and eCommerce, is reshaping the retail landscape, offering new opportunities for consumers, merchants, tech providers and payment networks by transforming traditional online shopping into an engaging and interactive experience.
\n\u201cFor consumers, social commerce is a fundamental shift from a one-dimensional experience to an interactive event,\u201d Smith explained.
\nConsumers can engage with brands, ask questions and interact with influencers who demonstrate and endorse products, making the shopping experience more personalized and engaging.
\nFor merchants, social commerce opens a new channel to reach and sell to consumers, enhancing their digital footprint. Smith underscored that as social media grows, this channel becomes increasingly crucial to capturing market share, especially among younger generations who spend much of their time on various social platforms.
\n\u201cIt is a way for merchants to stay relevant,\u201d she said.
\nAs a key component in the digital commerce ecosystem, tech providers, payment enablers and credit card networks also increasingly view social commerce as a transformative opportunity.
\nThese players must adapt to facilitate seamless transactions within social media environments, whether it\u2019s collaborating with external payment solutions or developing new capabilities. This ensures a positive and secure shopping experience.
\n\u201cWe want to make sure that regardless of how our consumer wants to buy products and how our merchant wants to sell them, it\u2019s a positive shopping experience,\u201d Smith said.
\nThe rise of social commerce is closely tied to the broader digital transformation of retail. As online shopping becomes more prevalent and social media use continues to climb, the convergence of these trends has naturally led to the growth of social commerce.
\n\u201cFor consumers and merchants, social commerce is a totally different way to engage in buying and selling,\u201d said Smith.
\nShe highlighted the evolution from early storefronts on platforms like Facebook and Instagram to today\u2019s sophisticated livestream shopping events and artificial intelligence-driven shopping experiences.
\n\u201cWe\u2019ve seen companies get a lot better at social commerce over the last couple of years,\u201d Smith explained.
\nThe focus has shifted to personalized content and targeted advertising, making social commerce more effective and appealing to consumers.
\nStill, despite its growth, social commerce faces challenges, particularly regarding consumer trust. Many shoppers are still wary of buying through social media platforms due to concerns about security and transparency. As one example, Smith recalled her own experience of abandoning a purchase on Instagram due to discomfort with the process.
\n\u201cIt\u2019s a struggle to make sure you have the right environment to get consumers comfortable enough to actually make the sale,\u201d she said.
\nEstablishing a baseline level of trust and credibility with consumers is crucial for the continued success of social commerce. This involves ensuring secure checkout processes and using technologies like tokenization and digital wallets to protect transaction data. Smith explained that regional differences also play a role, with areas like Asia-Pacific leading in social commerce adoption due to earlier and more natural integration of mobile internet usage.
\nAs expected, social media platforms and technology companies are at the forefront of driving social commerce implementation.
\nMajor players like Meta and TikTok have integrated social and affiliate links, allowing merchants to drive consumers to their websites or third-party marketplaces, and Smith explained that advanced integrations enable platforms like Facebook Shops to connect directly with eCommerce stores, streamlining the shopping process for users.
\n\u201cEvery social media platform in one way or another is looking at driving social commerce,\u201d Smith said.
\nThese integrations allow social media to serve as powerful storefronts for merchants, enhancing the overall shopping experience for consumers.
\nLooking ahead, social commerce is poised to continue its upward trajectory, driven by the growth of social media and the increasing digitalization of shopping experiences. As consumers spend more time on social media, it stands to reason that social commerce will expand accordingly.
\nKey areas of future development include advancing the integration between social commerce platforms and eCommerce providers through enhancing security and trust measures. Collaborating with wallet providers or similar payment solutions can ensure that transactions are processed securely.
\nAn additional key includes using the growing influence of social media personalities and influencers.
\n\u201cThe role of the influencer continues to grow and will be interesting to see how much that evolves over time,\u201d Smith observed.
\nWhile social commerce is unlikely to completely replace traditional physical stores or standalone eCommerce websites, it will undoubtedly remain a growing part of the retail ecosystem.
\nAs Smith concluded, \u201cThere is definitely a place for social media and a place for social commerce in the future, and certainly, I don\u2019t think there\u2019s much place for it to go but to continue to grow.\u201d
\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
\nThe post Discover Global Network Points to Social Commerce as Example of Shopping\u2019s Digital Transformation appeared first on PYMNTS.com.
\n", "content_text": "The lines between social interaction and commerce are increasingly blurred, and they show no signs of separating, at least not anytime soon.\n\u201cSocial commerce takes the entire shopping experience, from finding a product, researching it and paying for it, onto a social media platform,\u201d Discover\u00ae Global Network Global Head of Digital Acceptance Ellie Smith told PYMNTS.\nThis phenomenon, which represents the seamless integration of social media and eCommerce, is reshaping the retail landscape, offering new opportunities for consumers, merchants, tech providers and payment networks by transforming traditional online shopping into an engaging and interactive experience.\n\u201cFor consumers, social commerce is a fundamental shift from a one-dimensional experience to an interactive event,\u201d Smith explained.\nConsumers can engage with brands, ask questions and interact with influencers who demonstrate and endorse products, making the shopping experience more personalized and engaging.\nFor merchants, social commerce opens a new channel to reach and sell to consumers, enhancing their digital footprint. Smith underscored that as social media grows, this channel becomes increasingly crucial to capturing market share, especially among younger generations who spend much of their time on various social platforms.\n\u201cIt is a way for merchants to stay relevant,\u201d she said.\nAs a key component in the digital commerce ecosystem, tech providers, payment enablers and credit card networks also increasingly view social commerce as a transformative opportunity.\nThese players must adapt to facilitate seamless transactions within social media environments, whether it\u2019s collaborating with external payment solutions or developing new capabilities. This ensures a positive and secure shopping experience.\n\u201cWe want to make sure that regardless of how our consumer wants to buy products and how our merchant wants to sell them, it\u2019s a positive shopping experience,\u201d Smith said.\nThe Rise and Impact of Social Commerce\nThe rise of social commerce is closely tied to the broader digital transformation of retail. As online shopping becomes more prevalent and social media use continues to climb, the convergence of these trends has naturally led to the growth of social commerce.\n\u201cFor consumers and merchants, social commerce is a totally different way to engage in buying and selling,\u201d said Smith.\nShe highlighted the evolution from early storefronts on platforms like Facebook and Instagram to today\u2019s sophisticated livestream shopping events and artificial intelligence-driven shopping experiences.\n\u201cWe\u2019ve seen companies get a lot better at social commerce over the last couple of years,\u201d Smith explained.\nThe focus has shifted to personalized content and targeted advertising, making social commerce more effective and appealing to consumers.\nStill, despite its growth, social commerce faces challenges, particularly regarding consumer trust. Many shoppers are still wary of buying through social media platforms due to concerns about security and transparency. As one example, Smith recalled her own experience of abandoning a purchase on Instagram due to discomfort with the process.\n\u201cIt\u2019s a struggle to make sure you have the right environment to get consumers comfortable enough to actually make the sale,\u201d she said.\nEstablishing a baseline level of trust and credibility with consumers is crucial for the continued success of social commerce. This involves ensuring secure checkout processes and using technologies like tokenization and digital wallets to protect transaction data. Smith explained that regional differences also play a role, with areas like Asia-Pacific leading in social commerce adoption due to earlier and more natural integration of mobile internet usage.\nThe Role of Social Media Platforms and Tech Companies\nAs expected, social media platforms and technology companies are at the forefront of driving social commerce implementation.\nMajor players like Meta and TikTok have integrated social and affiliate links, allowing merchants to drive consumers to their websites or third-party marketplaces, and Smith explained that advanced integrations enable platforms like Facebook Shops to connect directly with eCommerce stores, streamlining the shopping process for users.\n\u201cEvery social media platform in one way or another is looking at driving social commerce,\u201d Smith said.\nThese integrations allow social media to serve as powerful storefronts for merchants, enhancing the overall shopping experience for consumers.\nLooking ahead, social commerce is poised to continue its upward trajectory, driven by the growth of social media and the increasing digitalization of shopping experiences. As consumers spend more time on social media, it stands to reason that social commerce will expand accordingly.\nKey areas of future development include advancing the integration between social commerce platforms and eCommerce providers through enhancing security and trust measures. Collaborating with wallet providers or similar payment solutions can ensure that transactions are processed securely.\nAn additional key includes using the growing influence of social media personalities and influencers.\n\u201cThe role of the influencer continues to grow and will be interesting to see how much that evolves over time,\u201d Smith observed.\nWhile social commerce is unlikely to completely replace traditional physical stores or standalone eCommerce websites, it will undoubtedly remain a growing part of the retail ecosystem.\nAs Smith concluded, \u201cThere is definitely a place for social media and a place for social commerce in the future, and certainly, I don\u2019t think there\u2019s much place for it to go but to continue to grow.\u201d\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.\nThe post Discover Global Network Points to Social Commerce as Example of Shopping\u2019s Digital Transformation appeared first on PYMNTS.com.", "date_published": "2024-08-12T04:02:06-04:00", "date_modified": "2024-08-14T17:23:02-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/Discover-social-commerce.jpg", "tags": [ "checkout conversion", "connected commerce", "Connected Economy", "digital transformation", "digital wallets", "Discover", "ecommerce", "Ellie Smith", "Featured News", "Mobile Wallets", "News", "PYMNTS News", "Retail", "Security", "social commerce", "Social Media", "Technology", "Social Commerce" ] }, { "id": "https://www.pymnts.com/?p=2050243", "url": "https://www.pymnts.com/news/social-commerce/2024/social-commerce-shoppers-pick-instagram-apparel-tiktok-beauty/", "title": "Social Commerce Shoppers Pick Instagram for Apparel, TikTok for Beauty", "content_html": "As consumers begin to adopt social media channels to make purchases, PYMNTS Intelligence found which apps shoppers are turning to for different kinds of retail products.
\nThe PYMNTS Intelligence report \u201cTracking the Digital Payments Takeover: Monetizing Social Media\u201d was based on a survey of nearly 3,000 U.S. consumers last year seeking to understand their social commerce behavior.
\n
The study found that among the 14% of consumers who purchased social media in the previous 30 days, the most common type of product bought was apparel. For this, Instagram was the most popular platform, as 47% of Instagram shoppers made such a purchase.
\nOn the other hand, for beauty purchases, the second-most popular category, TikTok was the go-to platform. Thirty-three percent of TikTok shoppers bought such an item, versus 28% of Instagram shoppers.
\nYouTube, meanwhile, proved the most popular for food and beverage shopping, as 40% of YouTube shoppers made such a purchase, compared to 32% of social commerce shoppers overall.
\nAs social commerce evolves, influencers are moving beyond product promotion to engaging in storytelling, creating a more genuine connection with their audiences, according to Kit Ulrich, general manager of creator shopping at LTK. Ulrich told PYMNTS last fall that this shift could democratize brand promotion, allowing for greater diversity in the marketplace.
\n\u201cCreators are becoming this new distribution channel that can do that very authentically,\u201d Ulrich said.
\nAs the fate of TikTok hangs in the balance, influencers maintain that the way the app has changed the social commerce landscape will endure.
\n\u201cI think what won\u2019t change is style of content that TikTok introduced to audiences around the world \u2014 quick, engaging, informative content that gets straight to the point,\u201d Fiona Co Chan, CEO and founder of Youthforia, a skincare brand with more than 190,000 followers on TikTok, told PYMNTS in April.
\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
\nThe post Social Commerce Shoppers Pick Instagram for Apparel, TikTok for Beauty appeared first on PYMNTS.com.
\n", "content_text": "As consumers begin to adopt social media channels to make purchases, PYMNTS Intelligence found which apps shoppers are turning to for different kinds of retail products.\nBy the Numbers\nThe PYMNTS Intelligence report \u201cTracking the Digital Payments Takeover: Monetizing Social Media\u201d was based on a survey of nearly 3,000 U.S. consumers last year seeking to understand their social commerce behavior.\n\nThe study found that among the 14% of consumers who purchased social media in the previous 30 days, the most common type of product bought was apparel. For this, Instagram was the most popular platform, as 47% of Instagram shoppers made such a purchase.\nOn the other hand, for beauty purchases, the second-most popular category, TikTok was the go-to platform. Thirty-three percent of TikTok shoppers bought such an item, versus 28% of Instagram shoppers.\nYouTube, meanwhile, proved the most popular for food and beverage shopping, as 40% of YouTube shoppers made such a purchase, compared to 32% of social commerce shoppers overall.\nThe Data in Context\nAs social commerce evolves, influencers are moving beyond product promotion to engaging in storytelling, creating a more genuine connection with their audiences, according to Kit Ulrich, general manager of creator shopping at LTK. Ulrich told PYMNTS last fall that this shift could democratize brand promotion, allowing for greater diversity in the marketplace.\n\u201cCreators are becoming this new distribution channel that can do that very authentically,\u201d Ulrich said.\nAs the fate of TikTok hangs in the balance, influencers maintain that the way the app has changed the social commerce landscape will endure.\n\u201cI think what won\u2019t change is style of content that TikTok introduced to audiences around the world \u2014 quick, engaging, informative content that gets straight to the point,\u201d Fiona Co Chan, CEO and founder of Youthforia, a skincare brand with more than 190,000 followers on TikTok, told PYMNTS in April.\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.\nThe post Social Commerce Shoppers Pick Instagram for Apparel, TikTok for Beauty appeared first on PYMNTS.com.", "date_published": "2024-08-09T16:47:37-04:00", "date_modified": "2024-08-09T16:47:37-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2021/10/influencer-social-commerce.jpg", "tags": [ "apparel", "beauty", "ecommerce", "food and beverage", "Instagram", "LTK", "Mobile Applications", "News", "PYMNTS Intelligence", "PYMNTS News", "PYMNTS Study", "Retail", "social commerce", "Social Media", "TikTok", "Tracking the Digital Payments Takeover: Monetizing Social Media", "Youthforia", "YouTube", "Social Commerce" ] } ] }