With almost 63 million internet users in India hooked on to Facebook, Twitter or any other Social Media channel, Social e-commerce is expected to be the next big thing after e-commerce.The e-commerce market in India has already touched the Rs 50,000 crore-mark last year.
According to the latest data from Internet & Mobile Association of India, with 150 online population, the country is the third largest in terms of internet users after China and the US. Out of this 150 million users, 50 million are on Facebook and 13 million on Twitter.
At present India has the second largest Facebook market after the US and the sixth largest for Twitter. What’s notable is that most of these social media members are also actively taking up e-commerce transactions.
ICICI Merchant Services and First Data general manager Amrish Rau said,” Going by the current growth rates, social e-commerce is the next step in evolution, combining the comfort and ease of use of social media and e-tailing. Social commerce continues to gain popularity around the globe, especially in the US, with the rising popularity of e-gifting, under which users send tangible gifts to their loved ones from retailers through Facebook and email”.
The fact that social networking sites are easily accessible on mobile phones, makes it easier for both individuals as well as organizations to expand their e-commerce strategy into the social commerce space.