Catlog has expanded its functionality to make it simpler for companies to sell their goods online. The firm, which has the support of Ventures Platform, DFS Labs, Voltron Capital, and HOAQ, recently introduced a new method for users to use hashtags on social media to identify products to buy.
Social media users can use the tool to find products by simply searching for the product and the hashtag “catalog.”
Silas Adedoyin, the CEO and co-founder of Catlog, stated during a conference call that the company opted to provide the functionality because “we’ve been trying to figure out ways to help our sellers make more sales.” Anyone can use the hashtag #findwithcatlog to conduct a Twitter product search using Catlog’s new capability. To use this function, a seller only needs to upload their product to the catalog.
A potential customer will see multiple posts on the product they searched for after using the hashtag to search. They would click the link associated with the item they wanted to purchase, which would then bring them to Catlog’s website. An interested buyer would submit their contact information on the website to place an order, and after doing so, a WhatsApp message would be sent to the seller. Both parties would be able to complete the transaction at this point.
Meta apps like Facebook, WhatsApp, and Instagram are the most popular in the social commerce market, but Catlog chose to launch this new feature on Twitter. Twitter was the first platform on which the functionality debuted because of how easily it could be pulled off, according to Adedoyin.
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The account for this feature on the social media network has more than 14,000 tweets and about 2,000 followers. After mastering this feature, he continued, Instagram would be the next app to make it available.
Adedoyin responded that there had been a 70% increase in visits to Catalog’s stores when questioned about the feature’s impact in the first few days of going live. According to him, the number of orders has increased by about 25% since the function was launched. He opted not to disclose any figures, though.
The Rise of Social Commerce Like Catlog
The statistics show that social commerce is expanding across the continent. Over 80% of respondents in a survey of over 4,000 small and medium-sized businesses (SMBs) in eight countries last year stated that social commerce had played a significant role in their company’s expansion.
The same survey found that social media apps like Facebook, WhatsApp, and Instagram helped 55% of the people who answered to start their own businesses.
These figures have an impact on the economy. According to the Q1 2022 Social Commerce Survey, the African social commerce market is expected to increase by 70.3% yearly to reach US$8 billion in 2022 and see a compound annual growth rate of 55.2% between 2022 and 2028.
This expansion can be linked to how simple and economical it is for companies to use social media to market their goods. There is a growing market—more than 384 million Africans use social media—and more than 281 million people purchase online on the continent. There is no requirement for a time-consuming registration process or additional fees to sell your goods online. In essence, these apps have made it easier for companies to make online sales.
A potential customer will see multiple posts on the product they searched for after using the hashtag to search. They would click the link associated with the item they wanted to purchase, which would then bring them to Catlog’s website. An interested buyer would submit their contact information on the website to place an order, and after doing so, a WhatsApp message would be sent to the seller. Both parties would be able to complete the transaction at this point.
The social commerce market is dominated by meta applications like Facebook, WhatsApp, and Instagram, but Catlog chose to launch this new function on Twitter. Twitter was the first platform on which the functionality debuted, according to Adedoyin, because of how easily it could be pull
The Tale of Social Commerce Like Catlog in Nigeria
It’s quite interesting to follow the development of the social commerce ecosystem in Nigeria in real time. Bumpa, a startup in social commerce, said earlier this year that it has connected with Meta so that social merchants on its platform could handle their direct messages (DMs) from Meta sites directly on Bumpa without needing to go to any of the Meta platforms.
Innovative, practical, and effective solutions like these from Catlog and Bumpa will enhance the online purchasing experience for Africa’s millions of online shoppers and expand the industry. This is supported by a PwC poll, which found that customers are prepared to spend up to 16% more and are more likely to continue with a business when they have a pleasant customer experience.
