As consumers head into the final stretch of the holiday season and rush to make their last-minute purchases, social media platforms are playing an instrumental role in influencing their gift-buying decisions.
According to McKinsey, 58% of consumers are leveraging platforms such as Facebook and Instagram to make their holiday buying decisions.
This represents an opportunity for retailers to drive sales and build lasting relationships with holiday shoppers. However, converting shoppers on social media channels and retaining their loyalties is not without challenges.
“It is mostly a terrible experience that is filled with redirects to different websites, entering information on small screens and having to jump through hoops,” said checkout and shopper network Bolt’s Chief Business Officer Bob Buch in an exclusive interview with Retail Bum.
A turnkey approach that can help retailers unlock a seamless experience for shoppers on social media platforms is offering a one-click checkout experience. They can achieve this by utilizing an API-enabled, decentralized checkout solution.
Taking this approach can not only help them boost their conversion rates, but also gather crucial first-party data, which is key to offering a personalized experience once shoppers have made a purchase.
“[Collecting] first-party data is increasingly vital for brands to maintain their direct relationships with their shoppers — it is especially important as we continue to see privacy-related changes to cookies and mobile operating systems,” he said.
Taking an API-driven approach can also help merchants gain access to millions of shoppers, who can seamlessly check out on their site even if they have never shopped with them before.