Social media buys on the rise

Social commerce interests majorly with middle-income and lower-income segments from non-metropolitan and tier-2/tier-3 cities in India to sell non-branded apparel, groceries and local handmade products / merchandise. The social part of these platforms comes from the fact that users can get better deals or earn money by rounding up their friends and family to make purchases through them. Driven by Facebook posts / ads  and Whats App messages, social commerce companies rely on the oldest form of advertising: word of mouth. to shorten things, a person is more likely to buy something if it is recommended by somebody they know and trust.

With advent of social commerce as a concept, People are selling variety of household items, groceries etc at better deals and reach thru social channels in their closed networks which keeps expanding with referrals and shares. Even payments like UPI / QR scans are helping people to make instant payments to purchase products. Its easy to build a catalog of products and invite one to have a look with Buy Now Button on FB / twitter. 

BENGALURU: About 62% of Indian businesses accept payments via Social Media as compared to the global average of 55%. This has led to to an increased adoption of social commerce in the country, a survey by Digital Payments company PayPal and market research firm Ipsos has found. (Source: Times of India.)

• 57% Indian consumers shop via social media compared to 30% global average.
• 59% purchase or pay at least weekly via social media.

Source: Times of India.