Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India

Social commerce to redefine shopping experience in the next five years

Social commerce to redefine shopping experience in the next five yearThe rise of social commerce, e-commerce and selling facilitated by social media- has made the experience of shopping convenient for consumers. However, this ease comes with an uncertainty as these platforms likely to disappear into thin air within just a few days of their formation. These social platforms not only increase the number of transactions between brands and consumers, they also handle their logistics, returns, payments, COD, disputes. Platforms like GlowRoad, along with Meesho and Shop101, operate through a B2B2C model where the reseller sends product images and description to potential buyers via social media. The reseller can add his profit margin once the end-customer chooses his product. He then adds the buyer’s address and after choosing a payment option, orders the product.

Reseller platforms like Meesho and Shop101 help create entrepreneurs and homepreneurs, others like CoutLoot help offline sellers go online with ease and without making any investment.

Push marketing helps acquire new customers

Social commerce platforms attract people from smaller cities, towns and villages as their applications are available in various vernacular and regional languages and the interface is simpler. They use a push marketing strategy, where the product is promoted on people’s phones using social media. This reduces the cost of their customer acquisition for these platforms.

Since these platforms target smaller cities and towns, they sell non-branded and cheaper products such as fashion and apparel, FMCG goods, beauty and grooming products, electronics, wearables and daily need products among other things.

Facilitating conversation between buyers and sellersSocial commerce to redefine shopping experience in the next five years

Social commerce platforms develop a trust factors amongst its consumers through platforms like WhatsApp, Facebook and Instagram. They facilitate conversation in a local language and through features such as check-out and offering video-based product experiences. This allows the seller to provide his buyers with more information about the product. On the other hand, it allows the buyer to bargain over the price of the product. The auto translate feature in apps translates the language to local language which leads to the parties trusting each other.

Challenges faced

Despite these benefits, social commerce also has its share of challenges. At times, buyers buy their products directly from the website which makes the name of the resellers known to them. These platforms therefore, need to ensure that their name does not appear anywhere in the transaction process. They need to protect the interest of their resellers.

Another challenge that such platforms face is of shipping their products to smaller cities and towns. They are also responsible for handling and dispersing cash in the hands of the platform. Delivering products with low monetary value further adds to the operational burdens of these platforms.

Around 93 per cent of total commerce happening on these platforms is for unbranded products which makes them a pioneer of this largely untapped category in India. Such platforms are popular in China which sees a 63.2 percent year-on-year growth in them. One such platform Pinduoduo has become the country’s third largest app in just three years since it started. Its average order value is $6, as compared to $30 on competitors Taobao and Tmall. India too is witnessing similar growth which may reach heights in the next five years.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Brands face near term losses as retailers shut stores due to COVID 19

Brands face near term losses as retailers shut stores due to COVID 19

With the COVID -19 virus rapidly crawling into the skin of humanity worldwide, apparel brands and retail companies are likely to be severely impacted in the near term as government... Read more

India’s e-commerce competition heats up as Reliance joins the race

India’s e-commerce competition heats up as Reliance joins the race

The Indian e-commerce sector, which saw several ups and downs in the past decade, has completely transformed the shopping patterns of consumers. Though the sector’s growth slowed around the middle... Read more

Coronavirus threatens retail jobs, revenue growth in India

Coronavirus threatens retail jobs, revenue growth in India

The Retailers Association of India (RAI) says, COVID-19 pandemic amid an economic slowdown has hit revenue at Indian retailers selling non essential items like clothes and jewellery by 75 percent... Read more

Despite FDI relaxations, single brand retailers choose local partners for India

Despite FDI relaxations, single brand retailers choose local partners for India

The Department for Promotion of Industry and Internal Trade (DPIIT) recently clarified that single brand retailers, owned by foreign companies, can fulfill their local sourcing requirements by procuring goods produced... Read more

Tracking the imaginative approach to a Fabindia's evolution

Tracking the imaginative approach to a Fabindia's evolution

Shubha Patvardhan, Professor of management at the UD’s Alfred Lerner College of Business and Economics, and J Ramachandran from the Indian Institute of Management Bangalore in their award-winning paper ‘Shaping... Read more

Tjori dedicates itself to beauty and strength of traditional Indian heritage

Tjori dedicates itself to beauty and strength of traditional Indian heritage

With its rich traditions and culture, love for ethnic wear never fades in India. Though many new trends and styles have been introduced lately, ethnic wear continues to be the... Read more

With innovative collections, Lotto to focus on retail expansion in Tier II, III …

With innovative collections, Lotto to focus on retail expansion in Tier II, III cities

With its name derived from the last name of its founders, Lotto is synonymous with technological and design innovation in the world of sports. The brand has created a niche... Read more

Hail Women: Transforming looks with unique collections

Hail Women: Transforming looks with unique collections

Incepted in 2018, Hail Women-an online women’s high fashion professional wear startup aims to end morning wardrobe struggles of all working women. Offering an array of Western formal business attire... Read more

Ruff to focus on domestic and international retail expansion

Ruff to focus on domestic and international retail expansion

Recent innovations like colored jackets, trendy blazers and fancy denim jackets have helped Ruff to maintain its futuristic outlook. Launched in 1980, Ruff is the first brand in the country... Read more

North Mist eyes the international market with new products

North Mist eyes the international market with new products

India’s first organic cotton menswear brand NorthMist, has mostly stayed pivotal to its initial ranges of products. However, now, the brand plans to diversify its product range. “We plan to... Read more

MOST POPULAR NEWS
Go to top