More people are using mobile devices now than ever, and as such, the appeal of social commerce is growing among small business owners on the continent.
This is why in the 2022 edition of TechCabal’s #FutureofCommerce conference, which will hold on September 23, we’ll be having a session on how social media is shaping commerce. This session is tagged “How is social media shaping commerce?”
In sub-Saharan Africa, 90% of retail reportedly takes place through informal channels. When you scale this down to e-commerce, at least 32% of this takes place over platforms like Facebook, WhatsApp, and Instagram. According to the Q1 2022 Social Commerce Survey, the social commerce industry in Africa and the Middle East is expected to grow by 70.3% annually to reach US$8 Billion in 2022.
This session on social commerce is centred on how the entry of social commerce platforms is redefining what social commerce is and what this could potentially mean for the future. We’ll examine the factors that have contributed to the success of social commerce today and discuss how these platforms are evolving. The session will also explore social commerce platforms impact the existence of established e-commerce players and even services like storefronts and how they will evolve in the near future.
Speakers on this panel will discuss the challenges that continue to limit the scale of social commerce services and the gains and depth of opportunity that exist for new and existing players.
Confirmed speakers for this session are Joshua Chibueze, co-founder/CMO of Piggyvest; Brian Mogeni, co-founder and CEO of Wowzi; and Kelvin Umechukwu, co-founder and CEO of Bumpa. The session will be moderated by Timi Odueso, staff reporter at TechCabal.
The Future of Commerce 2022 is brought to you by TechCabal in partnership with Moniepoint by TeamApt and is sponsored by dLocal, KasuwaGo, and QoreID, with Wimbart as a media partner. Register here to attend the conference.