Millennium Post

Social media users to boost domestic e-commerce

The fast increasing social media users hooked onto networking sites like Facebook and Twitter are set to give a big boost to the already burgeoning domestic e-commerce market that has touched the Rs 50,000 crore-mark last year.

According to latest Internet and Mobile Association of India numbers, with 150 million online population, India is the third largest in terms of Internet users after China and the US.

Out of this, 50 million are on Facebook and 13 million on Twitter, taking the size of social media universe to 63 million. This also makes the country the second largest Facebook market after the US, while the sixth largest for Twitter, ICICI Merchant Services and First Data general manager Amrish Rau said, adding that most of these social media members are also actively taking up e-commerce transactions.

‘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,’ Rau said. 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, he added.

According to a recent report, 82 per cent of online buyers consider others' opinions. A Forrester study shows that when online retailers suggest relevant products, they increase the average basket by 47 per cent and the number of products sold by 27 per cent.
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