Opinions on social networks like Facebook and Twitter are ruling the retail market. People tend to buy the products in online which is most recommended or liked. Hence merchants combined the social media with ecommerce platform where people like to have second opinion for buying. This new fashion in ecommerce has paved way for establishment of social ecommerce. Facebook accounts for nearly 55% of social mediated ecommerce sales. According to Gartner, nearly 74% of consumers rely on social networks to guide their purchases.
Online buying has seen different paces right from simple product selling to auction. Usage of computers for online goods transaction has improved upto the level of buying and selling across the mobiles. Latest trend of ecommerce is the combined effect of social media with the ecommerce site. It is an added advantage for the merchants to meet a huge population over the social media through a single platform.
Now-a-days, every ecommerce application comes with social media support. This helps to increase the popularity of the application quickly among the crowd. The social activities like recommendation, likes, comments, ratings etc are proven methods to increase the sales on the ecommerce site. Study reveals that 43% of social media users have purchased a product after sharing or favoring it on Pinterest, Facebook, or Twitter.
Apart from improving the sales on the site, social ecommerce plays the vital role of establishing good relationship with the customers. Customers may opt to receive newsletter from the site about the product updates and latest news happening on the ecommerce site. This acts like a database for the merchants to focus on sales.
Apart from buying, gifting the cards or coupons to their loved ones increases the sales activity. There is another interesting option called referral program. Users get income when they refer others. This keeps the users attracted with the site and at the same time, new customers are referred for the merchants leading to increased sales. Social ecommerce has many other interesting options like gift recommendation and gift guides which pep-ups the attitude of buyers.
In this fast moving world, people still find time to peep into their mobiles and browse the ecommerce sites and share their opinions with their friends. Social ecommerce has diverse advantages for both merchants as well as customers. Social ecommerce provides interconnected database of customers which keeps the probability of sales on the higher level.
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