Mexico City.- Social networks have become an essential part of our daily lives. Beyond sharing photos and videos, they have become key tools to keep up with trends: from knowing what song is the moment to discover which products are gaining popularity.
42% of Mexican consumers use social networks to make online purchases, according to an analysis recently made by the Adyen Payment Platform.
In an interview, Erick Caballero, Head of Account Management of the firm, talks about this new consumer profile, highlighting the role of artificial intelligence in purchasing decisions and the rise of the social commerce.
“It is not a future, it is a present (…), the reality is that traditional marketing no longer reaches communities as an influencer that generates community for your brand, not being in this type of technologies generates a competitive disadvantage,” says Erick Caballero.
Caballero explains that the accessibility of the Internet and the intensive use of social networks have been key factors for this transformation in consumption habits. However, it emphasizes that a fundamental actor in this change has been the influencers.
“If the consumer sees that a product is in a trend or if an influencer also has that product (…), now consumers are giving more credit to that type of advertising,” he says.
Social Commerce and the redefinition of traditional marketing
Erick Caballero points out that consumers usually act impulsively by being influenced by internet figures, and that the phomo phenomenon –Fear Of Missing Outfor its acronym in English – is one of the main motivations behind this behavior.
“People mention: if a product becomes fashionable or is in a trend then, I want to have that, I also want to be part of,” adds Caballero.
Having a unified trade model, which combines physical store, e-commerce and now social networks as a sales channel, represents a great opportunity for brands.
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In fact, the company’s report indicates that 36% of consumers are more willing to buy a product if it becomes a tendency in networks, especially when artificial intelligence helps offer a personalized and comfortable experience.
“I believe that recognition is something important that increases loyalty to a brand,” says the executive.
This new consumption model has even managed to overcome generational barriers, with millennials and generation Z leading this trend. Having grown up in a digital environment, these groups feel comfortable making purchases on social networks. Platforms such as Tiktok already incorporate tools that allow buying directly from the application.
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Although only 22% of Mexican companies have shown interest in investing in this type of trade, the Mexican online sales association indicates that Mexico was the country with the highest growth in electronic commerce for two consecutive years.
This phenomenon is especially driven by digital native generations. Both millennials and gene generation have adopted trade on social networks naturally, since they grew with immediate access to technology, to personalized content and direct interaction with brands and influencers.
Its purchase behavior is marking the course of e-commerce in Mexico, leaving traditional models behind.
Despite the low business adoption, some brands are already recognizing the impact of this change and understand that they must adapt to social commerce if they want to maintain their scope and competitiveness.
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