As consumer behaviors and expectations continue to evolve, online shopping is transforming from an everyday task into a social experience. The adoption of e-commerce and digital payments – accelerated during the pandemic – has created a myriad of ways for people to interact with brands.
“While search engines and e-commerce sites are great at meeting customer demand for a product, they are not good at generating it. It’s the superpower of our platform,” Meta said in a blog post Wednesday, June 15.
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“At Meta, we’ve spent more than a decade building a powerful discovery engine that anticipates customer needs, drives product discovery, and creates demand.”
The Meta Discovery Commerce system is intended to show consumers merchandise that matches their style and desires, but that they probably wouldn’t have encountered on their own.
“These moments of discovery are happening on a grand scale across our platforms,” according to the post.
Related: Merchants forced to adapt as e-commerce moves to mobile
Meta recently hosted its first Meta Commerce Day for Europe, Middle East and Africa (EMEA), a virtual event to help businesses learn how to exploit the opportunities of discovery commerce.
In a video part of Meta’s blog, Laurent Solly, Meta’s Vice President for Southern Europe, highlighted the potential of social commerce to help businesses grow.
He said Meta’s discovery engine is still “powered” with privacy-enhancing technologies, an AI-powered supercomputer, dynamic ads, collaborative ads, and more.
See also: Report: Consumers are spending, buying more online with brands that bring a personal touch
In a PYMNTS study earlier this month – “Relationship Commerce: Creating Long-Term Brand Engagement” – 90% of respondents said they were likely to buy more from brands they felt understood their brand preferences. ‘purchase.
The same study showed that 79% of consumers have a business relationship with the brands they buy from – membership, retail subscription or loyalty program – and 17% said they have all three types.