How Social Commerce is Revolutionizing the Future of E-commerce

India is the leading Asian market for social commerce and is projected to become a $100 billion vertical of e-commerce by 2025.
How Social Commerce is Revolutionizing the Future of E-commerce

India has successfully placed itself on the list of rapidly developing countries and is witnessing a grand rising in technological reform as well as the introduction of digital advancements and services. With the majority of the population consisting of youth and the growing number of WiFi hotspots and plans complemented with the soaring market of smartphones, it is valid for one to observe that technology is finally reaching the common man. The change in shopping mentality and behavioral pattern of the consumers in the country has further accelerated the pace of technological evolution and aided social commerce to take the lead. 

Social Commerce v/s E-commerce

Surprisingly, there is no ‘versus’ between the two; the country was introduced to online shopping via e-commerce a while back, however, the ascent of social media and the growing number of users in the segment gave rise to social commerce. The amalgamation of social media and shopping has resulted in the tool that is helping in securing the future of the Indian market while allowing the people of the country to choose their pick from a diversity of options.

Discussing statistics to estimate the growth of the sector, a survey as per PayPal reflected that India is the leading Asian market for social commerce and is projected to become a $100 billion vertical of e-commerce by 2025. Brands and businesses are making a significant shift as a lot of industry giants across different regions trod ahead post-COVID outbreak and India has onboarded over 10 million resellers and estimated $100 million in funding.

The Common Connection

Forming the connection between common people and social commerce brands, the industry not only allows the parties to align with each other’s expectations but also helps the people of the country in getting in touch with digitized portals and give real-time and instant feedback. This feature has not been evident in the e-commerce sector much and thus giving social commerce an upper hand. On another note, it makes the brands aware of their target audience’s response and helps them serve the customers better while escalating the game to a whole new level. 

The Surge in Numbers

With a drastic increase in numbers, going as high as a surge of 23 percent order volume in online shopping, it is prominent how the future of the retail industry and online shopping is social commerce. From AI-enabled applications to virtual showrooms and trial chambers, social commerce is seeing the light of the day and revolutionizing the e-commerce sector on an exponential scale. The industry has not only started this year on a hopeful note but also observed how the Indian beauty and wellness market has witnessed a growth in the volume of orders with the numbers reaching up to 130 percent as compared to 2019. Experts have also concluded how social commerce has initiated an uprising of social commerce as 67 percent of the buyers get more and more eager to search and tap on the ‘buy now’ button on social content. Feeding on social media addiction and the number of online taps, social commerce is proving to be the next big thing for the country, further reflecting strengthening its technological landscape and economical status across the globe.

Up Next in the Industry

People often choose their pick online to check the recommendations and feedback on the product or service that leads to the conversion of potential shoppers to real-time buyers via technologically supported and digitally enhanced portals. These factors contribute significantly to upscaling technological reform and connecting the common people to digitalization along with fulfilling their expectations and mutually benefitting the industry/ brands and businesses. 

Social commerce blends all of these factors to create an unparalleled experience for the customers while simultaneously increasing profitability for business leaders and the sector as a whole. Making itself a one-stop solution, social commerce is continuously evolving to rejig the e-commerce market and give it the long-due technological overhaul. With plans to connect augmented reality, virtual reality, and extended-reality to integrate them as features offered by social commerce, the sector is anticipated to offer much more in the coming years.

Keeping into consideration the developing buyer-base, pruned costs, expanding revenue from financial backers, and propelling innovation, social trade in India is touted to be the future fate of the online shopping industry.
 

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