ARUN SRINIVAS, Director & Head of Global Business Group, Facebook India
Over the last decade, the eCommerce industry has been the poster child of growth, innovation, and opportunity in India. Just when we thought that the rapid trajectory for the industry was behind us, the pandemic strapped it with rocket engines. Facebook’s consumer studies with Boston Consulting Group told us that eCommerce adoption had accelerated by two-three years within just weeks of the first lockdown last year. Over the last year, as businesses swiftly moved online to reach their customers, social media proved to be a pivotal bridge between people and businesses by aiding the discovery of brands and products.
The next phase of growth for eCommerce in India will be powered by discovery commerce, innovations, and rapid digital adoption across smaller towns.
Discovery Commerce’s Push To Ecommerce
The important role of discovery in our shopping journeys has now moved from offline store browsing to social media interactions, and businesses are building inspiration as a core part of their digital consumer engagement.
As the primary engine of discovery in the virtual world, social media is an essential link in the path to purchase. A Facebook-commissioned online survey showed that 96 percent of the surveyed people said that they discover brands and products online. Furthermore, 96 per cent of weekly users who discover apparel, beauty, furniture, or consumer electronics on the Facebook apps ultimately make a purchase, said the survey.
Bu hikaye Businessworld dergisinin August 16, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Businessworld dergisinin August 16, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
