Social Commerce: Trends & Future in India
The future of social commerce in India industry is anticipated to experience significant growth throughout the current decade due to an increasing number of consumers relying on social media platforms for their purchasing choices. According to social commerce statistics, the global social commerce market is going to reach higher and higher, representing a significant increase in the last 5 years.
Social media platforms have become popular destinations for shopping.
One primary factor for the growth of social commerce is the gaining use of social media as a shopping destination.
A growing number of customers are utilizing platforms such as Instagram, Facebook, and Pinterest to showcase and purchase products, and businesses are recognizing this trend.
In actual fact, a survey by a reliable source discovers that 70% of small businesses now have a presence on social media platforms, with many using such platforms to directly sell their products to consumers.
The ease and convenience of using social media for shopping is one of the factors driving this trend. Consumers can straightforwardly purchase and browse products & services from their favourite retailers and brands without even leaving the platform, making the process seamless and quick.
Moreover, social media platform help with targeted and personalized advertising, which allow the consumer to discover products that are relevant to their needs.
Another factor giving to the growth of social media platforms as a purchasing destination is the growth of mobile commerce.
The use of mobile, laptops and other devices for shopping is expected to rise in the next financial year in 2023. This makes it straightforward for consumers to buy on the go, further enchanting the popularity of social media platforms as a shopping destination.
Influencers rising in
Individuals person with a vast social media following are increasingly being used by brands to offer their products and services to a highly targeted audience. The trend is expected to follow in 2023, as more brands leverage the power of individuals with huge followers to reach potential customers.
Influencer marketing can be essential for brands to move a specific target audience and make a trusting atmosphere with consumers.
Most consumers view influencer marketing as a trusted source of information and are the potential to make a purchase based on advice from an influencer they follow.
Moreover, such marketing can be important to showcase in a crowded market and differentiate themselves from such competitors.
The emergence of new technologies
The beginning of new technologies potentially plays an important role in the growth of social commerce in this decade.
For instance, AI and Machine Learning are becoming more comprehensive helping businesses to better personalise and target their marketing efforts on social media. Moreover, the use of virtual and AR is also expected to provide consumers with more immersive shopping on social media platforms.
Moreover, the use of augmented reality and virtual reality is also expected to enhance the social commerce sector in this decade. This technology helps consumers to have an experience in a more immersive way, providing a sense of what it would look like. This can be particularly good for products that are difficult to showcase through traditional items.
Another movement to showcase in the social commerce sector is the enhancement use of social media for customer service. Many businesses are using such strategies to interact with customers and provide support and the trend is moving that way.
The use of social media for services can offer various advantages for businesses. For one, it will help for more timely and efficient communication with customers, as they can easily move to the business through social media and reach in real-time.
This allows you to improve customer loyalty and satisfaction. Moreover, using social media for customer feedback service can help businesses to strengthen and trust their brand reputation. By actively saying customer satisfaction and showing that they give value to their customer’s feedback.
There is no doubt that social commerce will continue to showcase substantially in this decade. In the end, the increasing use of social media platforms for customer feedback service is also giving the future of social commerce. Many businesses are now using social media as a way to give with customers and provide support as soon as needed. With more consumers turning to platforms to have purchasing decisions and new technologies emerging to give support.
With more reach turning to platforms to make purchasing decisions and new technologies offering social commerce trends, it is the perfect time for the industry. In the next few years, businesses can grip social media and new technologies effectively will help. For the rest of them, this can be the best time to begin their social media campaign.