Need To Know
02 : 03 : 21

Global – The social media platform has launched an initiative titled Good Ideas Deserved to be Found to support small and medium enterprises (SMEs) during the inter-Covid period.

To showcase the new venture, Facebook has released a short created by design agency Droga5 and narrated by Grace Jones. Within this scheme, the social media site will be simplifying Ads Manager to make digital marketing an easier process. The platform will also create updated resources to educate small business owners on how personalised ads work. As a way to increase SME’s profit margins, Facebook will waive checkout fees for any firms selling directly through the site.

Within social commerce platforms, SMEs are competing with big brands who often overshadow them with their large reach. As the pandemic has only heightened this issue, Facebook’s initiative seeks to offer aid to these organisations. ‘We will continue to make sure small businesses have a voice to reach customers, and make sure their good ideas are found,’ reads a statement from Facebook

As the market for social commerce becomes increasingly competitive and in-platform features continue to transform how consumers shop online, initiatives to uplift small businesses is becoming more important.

Thailand – Fashion brand Pomelo has collaborated with the short-form video app to create a limited-edition streetwear line.

Adorned with the TikTok logo, the 13-piece collection includes a variety of colourful womenswear garments and accessories. As part of launch, Pomelo has created the #BeBoldBeYou challenge which tasks users to create fashion styling videos, with the most inventive entry winning the entire collection. The fashion brand will also be selling the items via a shoppable livestream and on its site.

The exclusive fashion collaboration highlights the vast influence TikTok has on young consumers and the rise of fashion and beauty across the social media platform. By tapping into the creativity of its users, Pomelo can target TikTok aficionados who may not be aware of the streetwear brand.

With social media reshaping online shopping, social networks are prompting retailers to take their strategies into a new interactive territory.

The impact of Covid-19 will cause the compound annual growth rate (CAGR) of e-commerce sales in Australia to 10.3% between 2020 and 2024, according to new figures from GlobalData. The e-commerce market in Australia has been on a high growth curve. In 2020, the country saw e-commerce payments grow by 13.9% to reach A$52.2bn (£28.9bn, $40.3bn, €33.5bn) and numbers are only expected to increase until 2024.

‘Covid-19 has changed consumer buying behaviour as they are increasingly switching from offline to online channels,' says Shivani Gupta, banking and payments senior analyst at GlobalData 'With social distancing rules and closure of many brick and mortar stores, shoppers had to embrace online channels for day-to-day shopping.’

In a market that has been slower to embrace e-commerce than the UK and US, we can expect to see the pandemic continue to accelerate growth. For more on the ways retailers will cater for future viral outbreaks, read our Epidemic Retail Futures report.