What is Social Commerce?

Social commerce is basically the practice of selling products and services directly through social media platforms. In detail, the use of social media platforms to create a more personalized and targeted in-app buying experience for consumers is known as social commerce. Facebook is one of the best platforms which has effectively done social commerce because on Facebook a user will discover the product and until he purchases it all of it is done within the platform. Also, the buy buttons on Twitter and Pinterest are examples of social commerce platforms.
It is estimated that the Indian e-commerce market is to grow at a steady pace to about $400 Bn by 2030.

There are various factors contributing to this fast-paced growth.
● Rise of eCommerce Platforms.
● Digital India
The number of internet connections in 2021 increased significantly to 830 million, driven by the ‘Digital India’ program.
● Increasing internet usage and smartphone penetration

How are e-commerce and social commerce different?

The major difference is the experience the customer has from start to end which means from liking a product to purchasing it. In social commerce the customer gets to experience his journey from discovering a product and research to final purchase right on social media whereas in e-commerce the shopping experience is via e-commerce sites or online stores,etc. For example, if a customer discovers a product while scrolling through his social media, when he discovers a product which manages to attract him the journey he goes through from going through the profile of the brand/company, to checking out comments to know if the brand is trustworthy to finishing the purchase, everything happens through social media. Benefits When customers are willing to consult their friends or family they can tag them or simply share it and if they 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. Through social media you can engage with your audience and gain loyalty and following eventually and reach out to more people. The best part of it is that you can check your business metrics on social media and do the necessary changes to your strategies.

The Indian e-commerce sector is ranked 9th in cross-border growth in the world, according to the Payoneer report. Indian e-commerce is projected to increase from 4% of the total food and grocery, apparel and consumer electronics retail trade in 2020 to 8% by 2025.

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