NextGen Day

According to a recent analysis by Research And Markets, the Philippines’ social commerce market is predicted to grow by 30.4% annually and reach US$681.6 million by 2022. It is anticipated to expand gradually over the projection period, with a CAGR of 26.7% from 2022 to 2028. By 2028, the country’s social commerce GMV, which was US$681.6 million in 2022, will be US$2,744.5 million. Additionally, according to the publisher, the growth of the social commerce market is parallel to the expansion of the Southeast Asian market, with social commerce accounting for more than 45% of SEA’s e-commerce market in 2021 and projected to grow further in 2022.

This study confirmed what other previous studies had already found: Filipinos are the world leaders in the use of social media and the internet, and more people, particularly the younger generation, are adopting online shopping.

Brands are adopting social media platforms more and more as they embrace the future of e-commerce as the social purchasing method continues to grow more common in the Philippines. Here are some explanations on why businesses should support this developing trend.

According to a recent analysis by Research And Markets, the Philippines’ social commerce market is predicted to grow by 30.4% annually and reach US$681.6 million by 2022. It is anticipated to expand gradually over the projection period, with a CAGR of 26.7% from 2022 to 2028. By 2028, the country’s social commerce GMV, which was US$681.6 million in 2022, will be US$2,744.5 million. Additionally, according to the publisher, the growth of the social commerce market is parallel to the expansion of the Southeast Asian market, with social commerce accounting for more than 45% of SEA’s e-commerce market in 2021 and projected to grow further in 2022.

This study confirmed what other previous studies had already found: Filipinos are the world leaders in the use of social media and the internet, and more people, particularly the younger generation, are adopting online shopping.

Brands are adopting social media platforms more and more as they embrace the future of e-commerce as the social purchasing method continues to grow more common in the Philippines. Here are some explanations on why businesses should support this developing trend.

GC Mart Business

According to Meta’s advertising data, there were 83.85 million Facebook users in the Philippines at the beginning of 2022.

Businesses have a fantastic opportunity to introduce their goods to new people and rapidly grow their operations. Shopping on social platforms has the potential to draw customers and boost revenue, especially among major users of social media platforms like Millennials and Gen Xers. By making it as simple as possible for customers to make a purchase directly through their social media platforms, brands should take advantage of this purchasing behavior.

A general rule of thumb is to make sure that there aren’t too many steps in the purchasing process to ensure that customers of the platform complete their purchases. Customers may lose interest as the sales funnel is extended.

GC Mart, a free selling solution coupled with Facebook Messenger that eliminates manual management of online orders and accelerates the client purchasing process, was introduced this year by Super Pumped Philippines Inc.

It’s simple to register as a GC Mart seller; all you have to do is search for the service in Facebook Messenger. From there, it will walk you through each step of the process until you have your selling link, which you can then share with your network and on other social media and messaging services. Customers can browse the product details, prices, delivery times, and payment methods on the shopping page after clicking the selling link. Order fulfillment is quick and easy because to the tool’s integration with J&T delivery, which accepts COD payments. Customers who need their products quickly can choose between self-collection and on-demand delivery options.

Because GC Mart’s payment gateways, GCash, Maya, and GrabPay, have the lowest transaction costs, their vendors are able to make the most money possible.

Additionally, it has a RESELL Mechanism to aid MSMEs in expanding their operations. The method handles order administration and fulfillment centrally, the automatic direct release of commission to resellers, and the onboarding of potential resellers using an invite link delivered over Facebook Messenger.

Engaging your customers where they are with social commerce.

The majority of your clients already use social media. By consistently producing new product content that focuses on how it is used and its advantages, you can grow your brand and communicate with both current and potential customers. By being receptive to client input and acknowledging it in order to build exceptional customer service, as well as by providing user-generated content to validate both good and negative criticism, you may give your customers the impression that they are a part of the development of your brand.

Utilize the statistics provided by social media networks to track consumer social and purchasing trends and use this data to improve your content and offerings. Spend time getting to know your clients, speak with them directly, and solicit insightful feedback. Utilize the data to enhance your product offerings and communications.

“Unlike the widely used selling apps on the market, GC Mart’s integration with Facebook Messenger enables both sellers and buyers to immediately talk with each other in real-time without any restrictions. By setting up a group chat in Messenger where customers can receive real-time updates about new products or discounts, sellers may also make the most of this. With Facebook Messenger, the tool offers a more convenient setting where buyers and sellers can communicate more effectively and quickly, enhancing customer relations and fostering the growth of a sustainable and scalable business. CEO of GC Mart, Jodie Zeng

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Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

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