Joint study made by Assocham-Deloitte states that the global e-commerce industry is generating over $1.2million in revenue every 30 seconds with the social networking sites like Facebook, Pinterest and Twitter which contributes to $5,483, $4,504 and $4,308 respectively.
Social networks are now contributing to its significant to the growth of e-commerce business revenue. According to the study which released today says that, the maturity of the social media which reaches across the masses and the classes makes it a suitable platform for the online sales.
Social media pages help to provide information regarding new products in the market, users review and ratings of the products, recommendations and the information technology regarding the products.
Social media also helps the e-tailers to build their brands and spread awareness by solving the customerâ€™s queries. Social networking sites are also helpful to display the seasonal sales and offers. It also helps to reach the maximum numbers of people.
According to D.S. Rawat the Assocham secretary general says that, the E-tailers have also started to motivate their customers with the reward points to acquire their feedback of the products by the social networks.
The study analysts say that, the social networks have started increasing the links to e-commerce sites which will provide complete products description, availability status, pricing and delivery information, and access to product reviews and ratings. This helps the prospective buyers to make their purchases.
The study also says that, the social media provides a platform for the e-tailers to engage with their customers in form of advertisement, building of brands awareness, developing a community of trusted users, spreading word of mouth and customerâ€™s feedback.