Social media has become an integral part of our daily lives, with over 4.6 billion people using social media worldwide in 2022. As we enter 2023, social media is poised to undergo significant changes, driven by emerging trends that are shaping the industry.
The Rise of Social Commerce
Social commerce is the use of social media platforms to sell products and services. It has been a growing trend in recent years, and it is expected to continue to gain momentum in 2023. According to Influencer Marketing Hub, social commerce sales are expected to reach $1.3 trillion in 2023, up from $958 billion in 2022.
Platforms like Instagram and Facebook have already introduced shopping features that allow businesses to sell products directly on their platform. YouTube announced a partnership last year with Shopify to allow creators and merchants to feature their products on their channels. Eligible creators can now link their Shopify store to their YouTube channel. In 2023, we can expect more social media platforms to adopt social commerce features and become full-fledged marketplaces.
Video Dominance
Video content has become increasingly popular on social media, with platforms like TikTok and YouTube experiencing explosive growth in recent years. In 2023, video content is expected to dominate social media even further. According to Cisco, video content will make up 82% of all consumer internet traffic by 2023.
Social media platforms are already responding to this trend by introducing new video features. For example, Instagram’s Reels feature, which allows users to create short-form videos, has gained significant traction. In 2023, we can expect more social media platforms to prioritize video content and introduce new video features.
Niche Social Media Platforms
While Facebook and Instagram continue to dominate the social media landscape, there has been a growing trend towards niche social media platforms. These platforms cater to specific interests and communities and offer a more focused experience for users.
Platforms like Reddit, Discord, and LinkedIn have all seen significant growth in recent years. LinkedIn has seen steady growth hitting nearly 900 million by the end of 2022. In 2023, we can expect more niche social media platforms to emerge, offering users a more tailored social media experience.
Increased Emphasis on Privacy
Privacy has been a growing concern for social media users, and in 2023, we can expect platforms to place a greater emphasis on user privacy. Platforms like Signal and Telegram have gained popularity as more privacy-focused alternatives to mainstream social media platforms.
Platforms like Facebook and Twitter have also introduced new privacy features in response to user concerns. For example, Facebook’s Off-Facebook Activity feature allows users to see and control the data that other apps and websites share with Facebook.
Social Media as a News Source
Social media has become a significant source of news for many users. According to a survey by Pew Research Center, 48% of U.S. adults get their news from social media. In 2023, we can expect social media platforms to place a greater emphasis on news content and introduce new features to make it easier for users to consume news on their platforms.
Platforms like Twitter and Facebook have already introduced news sections on their platform, and we can expect more platforms to follow suit. However, social media platforms will need to tackle the issue of misinformation and ensure that the news content on their platform is accurate and reliable.
In conclusion, social media is poised to undergo significant changes in 2023, driven by emerging trends. Social commerce, video dominance, niche social media platforms, increased emphasis on privacy, and social media as a news source are all expected to shape the industry in the coming year. Social media platforms and social media marketing experts will need to adapt to these trends and introduce new features to meet the changing needs of their users.
