Social commerce is the next big thing and is on its rise rather exponentially. Many new business owners are turning to social commerce as a result of its popularity. A catalyst for the quick growth can be the humongous number of buyers already present there, which makes it easier for the sellers to reach their target audience.
While we ponder upon the rise and brilliant scope of social commerce, we would like to address this frequently asked question, but what is social commerce? And why are people going gaga about it? Well, to put it simply, social commerce is an extension of eCommerce.
- It is a subset of eCommerce;
- an amalgamation of social media and eCommerce;
- the use of social media in eCommerce.
Social commerce is relatively a new term, a jargon that amateurs are not yet acquainted with. Social commerce holds great potential as it is truly believed to be the next big thing. It is because as of January 2021 the population of netizens counts to 448.0 million. This number saw a leap of +21%, i.e., 78 million new users were added only from 2020 to 2021 in India.
Now we know how big the industry is, the excellent scope that it has, let us also take a look at the factors influencing the rise of social commerce.
6 Catalysts of Social Commerce:
- Rise in penetration of internet
With cheaper internet plans coming into the market, there’s a sharp increase in the number of people using the internet. This number is directly proportional to the users of social media, which in the end, helps in the rise of social commerce.
- Digital literacy
Over the last decade, there have been many new learners of digital media. Along with traditional subjects, the internet is also vastly studied, and hence there is a steady increase in the rate of digital literacy. Social commerce, being a subset of eCommerce, has also benefited from the rise in digital literacy.
- Rise of Apps
Facebook, Instagram, Twitter, ShareChat, WhatsApp, Telegram, Snapchat, Koo, Pinterest, and the list might go on. The constant updates on these platforms help sellers reach their target audience without much hassle. These apps are no more just a medium of picture sharing, chatting, and life updates, but also play the role of facilitating the
marketplace for buyers and sellers. Facebook Marketplace, Instagram Shop are just a few examples.
- Rise in disposable income
Over the last few years, India saw a rise in disposable income, which is why buying products and services are affordable to the working class than it was before. This also acts as a catalyst for the rise in eCommerce as is, social commerce being an extension, profits from this.
- The infamous pandemic
The way we shopped was redefined by the pandemic that hit us, altering almost every walk of our life. Consumers explored a variety of different online shops and thus, social commerce saw a rise.
- The want of all-in-one-place
As the internet is taking over our lives, the attention span is increasingly reducing, and this gave birth to Facebook Marketplace and Instagram Shop, which is a combination of social media and eCommerce.
We understand the factors but also need to understand the e-places where s-commerce stores can be set up. The best social commerce platforms can be your key to success.
3 Best Social Commerce Platforms:
1) Facebook Marketplace
2) Instagram Shop
3) Pinterest
While we are at it, it is also important for sellers to understand how to make the most of it to grow the business on Social Commerce. Let us take a look at it, very quickly.
Tips for hacking growth in Social Commerce in 2021.
- Choose the right platform according to your business
- Integrate your eCommerce business with social commerce
- Identify your target audience
- Keep an eye on trends
- Understand the algorithm
- The mantra of lower price
- Optimize your social commerce for mobile
- Automated bot checkout
- Try your hand at influencer marketing.
We cannot shy away from the fact that social commerce is the next big thing in India, it has revolutionized the way netizens use social media, for both the buyers and the sellers.
It is also a well-established fact that eCommerce stores are on the rise more than ever. If you are wondering how to set up an eCommerce store from scratch, the first step is research, but there’s only growth, once it is up and running.
The growth of eCommerce and eCommerce goes hand in hand. Should you need any assistance, right from setting up your eCommerce store or delivering your products, or even handling returns, Dash101 will help you through it. In this dynamic business environment, there’s no place for someone who makes slow decisions. A dedicated relationship manager can offer personalized support and solve your eCommerce shipping-related questions with you, at all times.
Dash101 logistics offers PAN India coverage, with 8+ shipping partners, at the lowest rate of ₹23/500 gms, which is the lowest in the industry.