The social shopping has been a major trend in the United States and Asia over the last couple of years. According to Deloitte Consulting even 47 % of millennials (born 1982–1996) makes purchasing decisions based on their social media networks. For retailers, it is extremely important to get consumers to share their shopping experiences and share products with social media.
The Finnish innovation SoMe Pay which was launched today, offers merchants a tool to exploit social shopping. SoMe Pay allows you to make purchases directly from a social media stream, enables one-click payment and product sharing and commenting.
"In practice, SoMe Pay makes customers potential marketers for webshops. Studies suggest that a friend's recommendation is much more credible and more effective than traditional advertisement. The merchant who adds SoMe Pay to his webshop reduces the threshold for shares and recommendations, says Heikki Kapanen, Country Manager of Nets in Finland. Nets is offering SoMe Pay in Finland.
"The consumer does not have to download a separate application, but the SoMe Pay functions directly in a webshop. For the merchant, SoMe Pay offers valuable data from customers and reduces the number of abandoned shopping carts," says Heikki Rotko, the advisor of FastFingers.
Cooperation with YouTubers in the future
SoMe Pay is the freshest example of Finnish fintech innovations. The service is developed by Oulu based start-up company, FastFingers, and is distributed in Finland by Nets, a leading provider of digital payment services and related technology solutions across the Nordic region.
"The consumer has always been king, but in the case of e-commerce, the old wisdom is further emphasized. The world's largest retailers such as Amazon and Zalando are already in the long run for social shopping, but now even with Finnish retailers, regardless of their size, there is an opportunity to become an equal competitor," Kapanen believes.
In the future, SoMe Pay will also invest in co-operation with influential marketers, such as bloggers and YouTubers.
"Social media superstars, such as popular YouTube video creators (YouTubers), have a significant impact especially on young people's purchasing decisions. In the future, we will try to bring merchants and some influential social media personalities together through SoMe Pay. Soon, we'll see YouTube videos that will allow the viewer to buy a product presented by a YouTuber for a single click," Rotko anticipates.
Heikki Kapanen, Country Manager, Finland, Nets
+358 40 543 7168, firstname.lastname@example.org
Nets communication email@example.com
Heikki Rotko, partner, FastFingers
+358 40 042 5069, firstname.lastname@example.org
FastFingers is a software company devoted to creating high-quality products that make a game-changing impact. Our passion is to innovate and materialize perfect products that touch people and make future more intriguing, faster and easier.