The Creator Economy and Social Commerce Proved Itself This Past Year. In 2022, Watch as It Booms!
TikTok, Influencer Panic and the Transformation of the Celebrity Economy

The Creator Economy and Social Commerce Proved Itself This Past Year. In 2022, Watch as It Booms!

With more than 50 million content creators across the globe and social media using new monetization tools and social commerce features, 2022 will witness an explosion of creative energy and the birth of a new type of online economy.

It has never been a better time to be a content creator: the cost for entry is incredibly low –sometimes totally free. You just need a device and an internet connection, social media platforms from TikTok to YouTube started creator funds in 2021, including incentives and monthly payments based on performance. The goal: to encourage creators to continue making content that keeps readers on their platforms and enables them to make a living out of it.

In 2022, as the creator economy booms, social commerce is the next step. In fact, it has already been in use in China for the past 10 years. This year, it will arrive in the U.S. and Europe as platforms and some of the world’s biggest brands implement new tools to drive more traffic and sales.

One great example of this is livestream shopping. The concept took off in 2021, combining active real-time communication between the content creator (host) and his/her audience and auction-style urgency that can create a FOMO effect. The power of influencers and the frictionless one-click purchase flow helped this approach drive more sales in less time and decreased cart abandonment for the brands and companies that used it. Watch as more companies take this approach in 2022, and develop new similar social commerce models and tools.

Content creators have been around for a long time, but in 2022, brands and social platforms will finally grasp the importance of their role for both society and business. We’re just at the beginning for the creator economy!

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Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

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Ben Bergman

Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.

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