The rise of AI-generated synthetic content further complicates the trust challenges of social media platforms. Image:Pixabay
Social commerce is on the brink of expansion, with some forecasts predicting it will increase tenfold by 2030, reaching a market value of $55 billion in India. A new trend combining e-commerce and social media platforms such as Facebook, Instagram and YouTube is gaining momentum in the retail industry.
Anand Ramanathan, partner at Deloitte India, highlighted the strong growth in social commerce, particularly in tier-II and tier-III cities, driven by focus on affordable products, especially in the fashion and home improvement sectors. Masu.
Sonia Sarachetti, director of influencer content at BarCode, said social commerce is becoming more popular among direct-to-consumer (D2C) brands, with strong quarterly spend growth over the past two fiscal years. emphasize.
Divija Bhasin, founder of a mental health organization and silver jewelry business, highlights the scalability and long-term viability of social commerce, citing the convenience and entertainment value social media platforms provide shoppers. are doing.
Sharing her first-hand experience, Charu Khanijau, founder of D2C ethnic wear brand Adizya, says social commerce has contributed significantly to her business, with a significant portion of her revenue coming from Instagram. doing.
Although social commerce offers lucrative opportunities, concerns regarding trust and trustworthiness remain paramount. Consumers are becoming increasingly sensitive to truthful marketing and the credibility of influencers on social media platforms.
Sarasetti expressed concern that influencers prioritizing popularity over accurate information could erode consumer trust and damage brand reputations.
The rise of AI-generated synthetic content further complicates the trust challenge for social media platforms, prompting platforms such as YouTube to implement labeling requirements for such content.
In India, regulatory bodies such as the Central Consumer Protection Authority (CCPA) and Advertising Standards Council of India (ASCI) oversee issues related to unfair trade practices and false advertising and impose penalties for violations. I am imposing it.
To ensure sustainable growth, social commerce companies rely on product quality certifications and trusted reviews to build consumer trust and effectively navigate the evolving online commerce landscape. Must be prioritized.
(With PTI input)
