Business Standard How social commerce is affecting consumer behaviour
Whenever it comes to trust, we tend to put our faith in familiar people and known faces. This is because we know the person based on our personal experience and trust them more than any other strange face. When it comes to money that is where all the actual influence works. If nobody trusts you, why would they invest in you or your products? These are the basic premises of market forces. Trust is a valuable but hard asset to earn. In the olden days, people used to communicate and products were promoted based on their experiences. Every organisation strives to gain the trust of
consumers. The very first step is to understand how people view your products and how they learn about them. A business that just started, has to convince its customers as most consumers may not be aware of the product or its offering. So the real question becomes - how will they be able to promote it at an individual level? For instance, imagine a scenario: While walking on the street, you, as a walk-by stranger, noticed someone’s saree and could not help but ask them about it- how would they answer? -- If this was before the internet era, she would probably name the shop where she purchased and would probably talk about it and other products she probably looked at. As a result, it could be concluded that she promoted the product, and since she is in your social circle, you may be tempted to purchase a similar product. During the internet and ecommerce age, this same behaviour still exists. Just the difference is that earlier people liked the products and prices they used to shop whereas now people can compare the price and material. Soon, just like flowing water, these social platforms started growing in business aspects and became a free space where most people started to promote their products/services. Nowadays social platforms play an essential role in marketing for firms. This eventually helps the individual and growth further. Technology has become an integral part of our lives. Customers of today are most influenced by whatever they see online and influenced by messages and posts that appear on social media. They can even chat, comment, and be in touch with their long-time friends and physical distance is no longer a barrier for consumers to connect with their friends and family. This connection has spawned off a new type of commerce - social commerce.
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