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Social ecommerce is basically social media platforms used to make a more personalized and targeted in-app shopping experience for customers. Simply put, it brings ecommerce functionality directly into social media platforms.
When customers are satisfied with your business, social media makes it easy for them to share and recommend your brand. Because of its very nature, social media is a place where content goes viral. These channels therefore play an especially important role in your word-of-mouth marketing.
Social Commerce which is often abbreviated as S Commerce in the market is representational integration of shopping and social media usage for better enhanced marketing and product requirements. Examples of social commerce platforms and social commerce sites include Facebook business retail store pages where users can browse and shop without leaving the platform or buy buttons on Twitter and Pinterest.
Executives overwhelmingly agree that social commerce is driving an increasing portion of their company’s marketing-driven revenue. In 2020, Facebook, Instagram and Pinterest launched revamped social commerce tools to help retailers streamline online shopping experiences in the midst of the pandemic. These features create new digital storefronts that can be found organically or boosted through paid advertising.
E-commerce is expanding steadily in the country. Customers have an increasing choice of products at competitive rates. E-commerce is probably creating the biggest revolution in the retail industry, and this trend will continue in the years to come.
With the daily reach and increasing trend towards new and technologically featured social commerce requirements, the market has seen through a dynamic usage of social networking sites as part of e-commerce integration. There can be a populated reference of Instagram and Facebook being seen in the recent market for better levels of marketing.
However, as access to the internet and technology picked up pace, so did our adoption of an ever-increasing variety of online channels to source and share information.
In 2011, with growing momentum, and a change in consumer behavior and expectations, Facebook launched sponsored stories as a form of advertising in India. The smarter option would be to implement a social commerce solution that engages users where they are and turns their social media engagement directly into sales. With over 2.2 billion monthly active users in contrast to Facebook, there’s a huge potential audience to leverage.
Social commerce has been a game-changer for smaller brands, allowing them to easily compete in crowded marketplaces. However, now big retailers are hopping on board. For example, Walmart plans to start selling their products via influencers directly on TikTok in 2021.
For merchants, this opened the door to a wealth of consumer purchase data, and a broader, worldwide audience. However, from a merchant’s perspective, it also meant more competition and noise to cut through in order to stand out.
The India Social Commerce Market can be segmented into following categories for further analysis.
The Recent integration of the technological advancements of artificial intelligence and other components alongside the visual technologies of motion and sensors has increased the retailing segment in recent years, with better presence and virtual reality-based experience being created for the customers. Thereby it can be seen that the various technological inclusions within the industry has increased its reach and is trying to boom the industry through its viability of approach.
The first and most obvious point about social media is that it’s a place where end users have direct contact with your brand. On these platforms, consumers have just as loud of a voice as your official brand page, and negative press can be incredibly harmful.
As well as large amounts of quickly produced, lo-fi video content, live streamed videos are also gaining ground as a way for influencers to show off sponsored products and for companies to bring users the feeling of attending their events in person.
Users looking for an authentic, unfiltered experience prefer live streams as a way to get closer to friends and those they follow on social media. It allows for real-time communication between viewers and streamers. As users, we regularly speak to friends via WhatsApp, Facebook Messenger, and other messaging services.
In an eCommerce context, these platforms can be used to allow customers to speak to retailers in real time about problems, doubts and questions they may have before purchasing, and even to place an order. Conversational commerce of this kind is beneficial for the customer as they get more information and have more freedom of choice before buying. This allows them to create a closer, more personal relationship with the respective brand at all times.
As well as for chatbots, AI is being used to help manage what conversations and posts are filtered through to public relations teams so they can respond to potential negative press about their brand in good time. AI is also able to analyse data and detect patterns of behaviour online and on social networks better than people can, even from images and not text, so this helps companies to make smarter and better business decisions.
India’s Social Commerce ecosystem includes massive start-up-based recognition and integration through the support of Policy initiatives under Make in India by the Government. Indian users today make up a significant portion of users on global social media platforms and are a key target market for these platforms to expand.
This massive increase in the number of people with internet access has also led to a rapid rise in e-commerce. However, the number of e-commerce users still trails social media users by a significant margin within the operational marketing of the country.
The predominant format of social commerce that has emerged in India is powered by social reselling platforms such as GlowRoad, Shop 101, Meesho, Bulbul and SimSim. These platforms operate through apps that can be downloaded for free, and predominantly target the mushrooming number of mobile users wanting to earn an extra income. The app user is referred to as the reseller.
Meesho has been one of the most anticipated Social commerce websites in India, which is India’s largest marketplace for longtail products. Our vision is to enable 100 million small businesses in India to succeed online. The marketplace provides small businesses, which includes SMBs, MSMEs and individual entrepreneurs, access to millions of customers, selection from over 100+ categories, pan-India logistics, payment services and customer support capabilities to efficiently run their businesses on the Meesho ecosystem.
DealShare has been another social commerce website and start-up which has been modelled to re-invent retail for the next billion users, it offers relevant catalogues with low prices and a fun-filled shopping experience with vernacular browsing. It is a B2C hyperlocal e-retail business, established on 5th September 2018. DealShare is currently operational in 5 states and in more than 30 cities. It is the only e-commerce company that caters to the mass population of the country.
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