A year ago when the world was in the throes of a health crisis, social media served as an answer key in scenarios such as finding medicines, tracking the availability of hospital beds, and providing meals to the Covid patients. Social apps became a significant part of the customers’ ecosystem. Its use was not just limited to building connections but also social buying. Here users could review and buy products in real-time on these channels rather than redirected to a website or sales platform. Social commerce: the next trend in online shopping has evolved into a simple-to-use marketplace for ordinary people. It is also helping them establish their own business with the touch of a button and reach a larger audience at a low cost.
According to Accenture, social commerce will grow thrice as fast as traditional e-commerce, hitting $1.2 trillion by 2025. China will remain the most mature market and developing countries like Brazil and India will witness the highest growth. Gen Z and Millennials, who account for 62 percent of over