Social Commerce-The Benefits And Future of Social Revolution in Shopping

Social Commerce: The Benefits And Future of Social Revolution in Shopping

Social commerce takes a leap from the traditional model and encourages users to complete the entire purchase process on the same app. This model helps make the optimum use of e-commerce business. From product promotion to after-sales service, the platforms include all sales transactions making it convenient for the consumer. With a steady boom in the e-commerce sector since the COVID-19 pandemic, social commerce has seen tremendous growth across the globe. The Asia Social Commerce Report which is a research conducted by Paypal to understand the potential of social commerce, claims that almost 80% of retail businesses across APAC sell through social media. And to enhance the spike in social commerce, social media has been adding new features and functionalities to give consumers an easy shopping experience. As social commerce booms in India, we take a look at the benefits of this model and what the future holds for online buying.

Customer Engagement

One of the prime advantages of social commerce is the brand’s proximity to a customer. Direct communication with the brand often lets customers make a buying decision quickly. And brands are leveraging social media as an effective branding platform by being regular on the customer’s feed. They are increasing their visibility and credibility with strategically planned content and design. It not only connects the brand to the right customer but also builds a faithful connection with them. The two-way communication it promises is another reason for high customer engagement. The platform encourages comments and discussions around their products and services which enhances brand awareness, gains consumer insights, and more. This cumulates to ensure word of mouth that leads to audience building, better engagement, and increased website traffic.

Audience Growth

According to Statista, in 2020, globally there were over 3.6 billion social media users and this number is expected to reach 4.4 billion by 2025. With a considerable number of people now buying online, there is an ocean of opportunities to find relevant audiences and grow online. According to Kiepo’s research, Southeast Asia has a new user generation rate of 16.98% which includes the young audience. Considering how impulse buying is high among millennials and Gen Z and their extensive usage of the platforms, brands are catering to them through appealing tactics.

Customer Insight

One of the key advantages of social commerce is the insight it provides into understanding customer engagement behavior. Moreover, being on social media transforms your brick-and-mortar store into a platform without any barriers. Accenture in one of their articles on the future of social commerce, calls social commerce a “democratizing force” mainly because it opens new avenues of opportunity for individuals and small businesses. According to the research, 59% of social buyers are more likely to buy from a small business through social commerce versus online and 44% are more likely to buy a brand they did not know about previously.

The future of social commerce is where a consumer can have a seamless online shopping experience without leaving social media. Less time, fewer clicks, and quick payments will power the social commerce revolution while it will continue to evolve.

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