As ecommerce has grown over the last decade or so, it's also evolved, changed shape, and spawned numerous offshoots. One of those offshoots of The big ecommerce revolution is social commerce. It represents a big opportunity for retailers and Brands. Just as social media levelled the marketing playing field, social commerce is giving brands both big and small a new way to capitalize on their hard-earned social media reach.
As per the industry data, social commerce has already started accounting 15-20% share of online sales and is expected to touch $70 billion mark in the over next 10 years.
Covid 19 lockdown has further escalated and enhanced its efficacy . In the absence of offline stores consumers were constantly exploring easier options to shop and social commerce emerged as a preferred channel. Therefore, today every brand/ retailer is forced to come-up with an effective social commerce content strategy as a part of their engagement strategy.
As per rough estimate, globally, more than 500 top retailers earn $6.5 billion dollars from social shopping each year. Scarcity of offline retail will push this number even further.
Though, it is a growing vertical but at a nascent stage in India as compared to other formats of retailing. Alike to any new business, social commerce too has its own set of challenges and risks. With this Virtual conference we aim to analyse and mitigate those risks and opportunities.
|03:00 PM – 04:30 PM||
Social Commerce: Decoding The New Normalcy In RetailSession Highlights: