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Social commerce set to scale, but concern of authenticity looms large: Industry

Economic Times · 8m

Social commerce is set to see significant growth in the coming years, with experts predicting a 10-fold increase by 2030. Consumers are increasingly purchasing products directly through social media platforms like Facebook, Instagram, and YouTube. This trend is particularly strong in Tier 2 and Tier 3 cities in India, with a focus on affordable products in areas like fashion and home improvement. Social media-based businesses are benefiting from the convenience and ease of browsing and buying through these platforms. However, trust and authenticity remain crucial factors in driving consumer confidence in social commerce. Influencer marketing and visually appealing content are tools used by brands to increase sales and visibility. Maintaining trust through clear disclosure of advertising partnerships and ensuring genuine product promotions will be key to the success of social commerce.