social-commerce - Watconsult

Social commerce is the buying and selling of goods or services within a social media environment and this model shifts social media beyond its traditional role in the discovery process without leaving their preferred social media apps and users can complete the entire purchase process. With the aid of accelerated adoption from smaller metros and towns and the penetration of the internet, this innovative platform of combining social media with digital commerce is seeing huge growth.

The rise of social media adoption and eventually, the marketplace on social media, such as Facebook, WhatsApp, Instagram and many others are boosting the usage of social commerce. Currently, there are 157 million social commerce shoppers and this number is expected to grow at a rate of 45% to reach around 228 million by the end of 2022. Most of the customers purchase from social media platforms because the recommendations and comments help them in making their buying decision, followed by affordable prices and the ability to shop on the platform itself rather than switching to other e-commerce apps or websites.

Insights in the report are further broken down by:

Age Groups: Under 18 years, 18 - 24 years, 25 - 34 years, 35 - 44 years, 45-54 years, 55-64 years, 65+ years
Gender: Male, Female
Town Class: Top 4 Metros, Next 5 Metros, Small Metros and Small Towns
Occupation: Self-employed, Housewife, Professional with less than 10 years of experience, Professional with more than 10 years of experience, Not working currently, Student

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