Indian brands, consumers embrace social media for commerce, says PayPal
today Sep 21, 2018
Paypal’s latest report has placed India as the top Asian country (excluding China) for usage of a number of social media and online sites as digital marketplaces to help drive online sales.
In India, the e-commerce market is booming and more and more Indians are getting online and using a number of international social media sites. Paypal’s recent report entitled “Beyond Networking: Social Commerce as a Driver of Digital Payments” stated that 79 percent of online merchants in India use “social commerce” to widen their customer base.
India was found to be the top Asian user (excluding China) of YouTube (64 percent), Twitter (61 percent), Skype (53 percent), Google+ (50 percent), and LinkedIn (33 percent) for the sale of goods and services.
As fashion is the second largest sales category online in India after electronics, this showed that “social commerce” sites are frequently contributing to online fashion sales, said the report.
Moreover, according to Paypal’s report, more than 96 percent of online sellers attribute growth to “social commerce”.
Brands can market their goods for little to no investment online through social media and the report states that social networks have helped Indian online businesses to grow.
The most popular social media sites used by e-commerce businesses are Facebook (89 percent), WhatsApp (43 percent), and Instagram (41 percent).
The report found that the beauty market is the most influenced by social media. According to the report, around 52 percent of customer demand on social networks centres around makeup. This was followed by online groceries at 44 percent.
The use of digital payments by Indian e-tailers is also on the rise according to Paypal’s findings. The report also stated that one in three Indian consumers either buys or sells online.
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