EXPLORING THE FACTORS AFFECTING THE GROWTH OF SOCIAL COMMERCE FOR MARKETING AND BRANDING OF BUSINESSES TO IMPROVE REVENUES

Abstract

We have all shopped on Amazon or Flipkart or Myntra and other e-commerce websites so much that they have now become our habits, we open those applications just to see of there is any deal on the product we want to buy. On other hand, social media is a habit rather than a task for the millennials and they generally spend most of their time on social media through smartphones. The advent of Web 2.0 technologies has made it possible to now integrate these two platforms and create a new phenomenon called social commerce wherein a consumer can purchase or transact on social media platforms, like Facebook marketplace. This paper aims to understand the potential of social commerce in an Indian context and how businesses can generate revenues through it. The paper utilizes in-depth interviews to understand the consumer’s attitudes and beliefs towards social commerce and what marketers should do to tap into this channel to gain revenue. The findings of the research include three main factors of brand knowledge, user experience and analytics which affect the use of social commerce in India. This research can be used by marketers or brand managers to explore the potential of social commerce in India and thus, create value through this channel.