Earlier social media platforms were used for the sole purpose of social interaction and e-tail platform to cater to our shopping needs. However today due to the fast-growing pace of technological revolution the same app is being used for both interactions and shopping. S-commerce marketing compiles e-Commerce functionality directly into social media platforms in a more personalized and targeted in-app experience for customers. For example, apps like WeChat are used for both social interactions and shopping. This is how e-commerce and social media are getting intertwined, leading to the emergence of S-commerce.
How s-commerce will reshape the future of commerce?
India accounts for around 200 million active social media users currently and the number is expected to rise shortly to around 370 million by 2022. Industries like fashion, consumer healthcare, baby products, food, and beverage industry, financial services, beauty, personal care, and women’s care are gaining momentum due to their prominence on social networking sites by merging social interaction with e-commerce needs.
Estimates say that millennials are spending nearly 17 hours online every week in major activities like social networking, streaming music, videos and omni-channel shopping. Around 28% of millennials purchase products due to social media recommendations and 63% of millennials stay updated on brands through social media. S-commerce marketing adds an important aspect to the marketing plan of brand owners ascertaining the reasons behind the customers’ choices and preferences.
The major share of the total consumer demand on social media platforms comprises of cosmetics and beauty products. The segment is followed by food, beverages, and grocery, which is the second most-sought-after category. The results are also found to be very effective, with significant engagement in social networking sites and gratification.India emerged at the top in terms of leveraging social networking platforms for the sale of goods and services. This is how an S-commerce strategy is expected to influence marketers. Social media platforms and online product/service reviews account for an important part of millennials’ shopping journey as it influences their purchase decisions.
S-commerce acts as a valuable instrument for brands and companies to gauge the impact for their customized product solutions by tracking the online response of their campaigns and at the same time, this channel can be used to address consumer feedback and grievances.
How brands can gear up with s-commerce in their marketing strategy?
To make the digital marketing strategies effective brands need to seek out new consumers and companies need to keep up with their consumers’ lives in a non-intrusive way by providing customized offerings. They need to work on enhancing their consumer experience rather than just the product. Companies need to study consumers’ shopping patterns and online behavior while leveraging advanced data and predictive analytics. These insights could be used for providing customized and immersive experiences for consumers throughout their shopping journey.
In this way, brands can leverage the potential of S-commerce in its initial stages and capitalize on the insights as per the changing tastes of the youths.