There is a merger of e-commerce apps with short-form videos. It sets the tone for social commerce in India. E-commerce model is intent-based. Social commerce model is discovery-based. It is suited for fashion, accessories, home decor, beauty and personal care products.
Social commerce benefits resellers, small business owners and first time entrepreneurs.
There is partnership between e-commerce apps and social media apps. Apps like Chingari and Mojo earn a commission of about 10 per cent on purchases made by a user from those links.
Meesho is a popular social commerce platform. Ropso too forayed into live commerce. Traditional e-commerce players too have joined this bandwagon. Flipkart tied up with Mojo to develop video and live commerce capabilities. Amazon and Chingari joined hands to develop a shoppable video feature on Chingari platform. Myntra too has ventured into live commerce.
Social commerce accounted for an industry worth $1.5-$ 2 billion in 2020. It has the potential to grow to $16-20 billion by 2025.