Shopping is inherently social and the recent study from Frost & Sullivan makes the claim stronger. According to a latest story at Times Of India, a new study by Frost & Sullivan has revealed that over 60% of internet users in urban India are influenced by social media in their purchasing decisions while shopping online.
The study also highlighted some other significant trends worth noting:
1. More than 60% of internet users in urban India spend four hours and more a day browsing for various purposes such as entertainment, networking, business, academics, shopping, etc.
2. Consumers are increasingly relying on social media to make their purchases, either as informed choices, or through peer conditioning.
3. In the age group of 18 to 35, 60% of the respondents indicated that they shopped online once a month and 40% of the respondents expected to increase their online shopping budgets over the next 12-15 months.
4. For over 30% of the survey respondents, friends or peer-reference influenced their online shopping; 17% were influenced by social media sites that included ads, product reviews, recommendations, product launch announcements, etc.
5. 40% of the respondents indicated that they purchased one or more items after seeing it on a social networking site and many of these purchases were routed through ads on these sites.
Speaking more about the finding, Research Director at Frost & Sullivan, Vidya Nath, “For improved results and generating increased revenues online, companies need to find means to integrate online portals with social media and monitor customer behaviour to chart their marketing strategies.”
She also stressed the fact that what works for one company may not work for another, hence social media marketing has to be carefully and strategically implemented to see tangible results.
The results could be a good moral booster for startups and ecommerce companies who are investing time and money in social commerce. However, the report hasn’t highlighted the number of respondents chosen for this study.