Indian Retail Yet To Explore Social Media’s Full Potential: Study

Up until now, we have categorically expressed (and covered) how everything and anything can be bought online. The e-commerce boom has affected all genres – clothes, accessories, groceries, electronics, lingerie, books – you name it!  There has been a steady spurt in the number of grocery e-stores. Be it oyechotu.com, omart.in, ekstop.com, or many others – Indian consumers are exploring the online shopping format as much as they are hooked to supermarkets, hypermarkets, and their local kirana stores.

While e-commerce is doing well for itself, there’s another online activity that is affecting offline grocery shopping and preferences – social media. A recent study by Annik Technology Services says that retailers in India have only started adopting social media realising its power in influencing people’s purchase decisions. The study reveals that though the internet penetration is only 12% in the country, this 12% spends 25% of all time spent online on social media. This means that a LOT of people are updating their status, tweeting, Instagram-ing about everything and anything they’re doing in life – which also includes their grocery purchase and choices. Another good thing here is that the low overall penetration makes room for ample growth opportunities.

Retail chains are soon realising that a strong online presence can get them close to their customers, help them offer customised services, tweak offerings depending on consumer demands and conduct in-depth consumer studies without really paying for it!

Partha Sarathi Sengupta, Senior Project Director- Analytics Practice of Annik Technology Services said, “There is a lot of communication happening online but there are not many that are being addressed. This certainly can be leveraged to identify the needs of the people you are engaging with and how you should go about approaching them.”

Perhaps, the retail sector is a bit late to realise the potential of social media and the internet. But then again, better late than never.

Image Courtesy |  mygrahak

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