Forum Views - February 2024
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FORUM VIEWS - FEBRUARY 2024
products, providing services, or engaging in affiliate
marketing, women can contribute significantly to their
financial well-being.
• Social commerce platforms serve as educational hubs,
offering tutorials, product demonstrations, and
informative posts. Women actively access these
resources, enhancing their knowledge and skills across
various areas, contributing to personal and professional
growth.
• Empowered women on social commerce platforms have a
substantial influence on their communities, as indicated
by a Nielsen study. Their recommendations and
endorsements contribute to a notable 35% increase in
brand advocacy among their followers.
• Social commerce allows women to align with businesses
that share their values. Many women-led businesses
incorporate social and environmental responsibility into
their models, providing consumers with the opportunity
to contribute to positive change through their purchases.
Beyond its empowering impact on women, the social
commerce industry as a whole is experiencing remarkable
growth and innovation. The global social commerce market is
projected to surpass $3 trillion by 2025, underscoring its rapid
expansion and increasing significance in the broader e-
commerce landscape.
Over 90% of users make purchases through smartphones,
emphasizing the mobile-centric nature of social commerce
platforms. The accessibility through mobile devices plays a
pivotal role in the widespread adoption of social commerce,
especially among younger demographics.
Influencer marketing within social commerce is thriving, with
businesses earning an average of $6.50 for every $1 spent on
influencer marketing campaigns. This highlights the
effectiveness of influencers in driving engagement and
conversions, shaping consumer perceptions and
preferences.
Leading e-commerce platforms such as Shopify,
WooCommerce, and Magento are integrating social
commerce features. This seamless integration enhances the
shopping experience within social media environments,
bridging the gap between traditional online shopping and the
dynamic, interactive nature of social commerce.
Learning Opportunities:
Influencing Others:
Supporting Causes:
The Social Commerce Industry at Large: A Global
Phenomenon
Mobile Dominance:
Influencer Marketing Impact:
Integration with E-commerce Platforms:
Emergence of Live Shopping:
Cross-Border Commerce:
Personalization through AI:
Conclusion: Shaping the Narrative of Women’s
Participation in the Economy
Live shopping events are gaining popularity, with platforms
like Instagram and Facebook incorporating live video features
for product demonstrations and real-time interactions. This
trend emphasizes the interactive and engaging nature of social
commerce, providing users with a more immersive and
personalized shopping experience.
Social commerce facilitates cross-border commerce, with
approximately 55% of consumers making international
purchases through social media platforms. This global reach
presents significant opportunities for businesses to expand
their customer base beyond borders and tap into diverse
markets.
Artificial intelligence is playing a crucial role in personalizing
the social commerce experience. AI-driven algorithms analyze
user behavior, preferences, and interactions to provide
personalized product recommendations, enhancing user
satisfaction and driving conversions.
In summary, social commerce stands not only as a powerful
force for economic empowerment but also as a catalyst for
reshaping the narrative of women's participation in the
economy. Backed by data-driven insights, it provides
opportunities for women to thrive as entrepreneurs,
community builders, and influencers.
The evolving landscape of social commerce holds immense
potential for further transformative impact. As these platforms
continue to innovate and adapt, they have the potential to
redefine how women participate in the economy on their own
terms. Social commerce is not just a transactional tool; it's a
dynamic space where women are shaping their stories,
fostering collaboration, and influencing the global business
landscape. It's a testament to the power of technology and
connectivity in creating a more inclusive and empowering
business ecosystem.
Tulika Garg Bhatia, the visionary behind SOROR: The Sisters Edit, showcased
on the Founders Page Updates. A woman of diverse talents, she is a mother,
professional, and philanthropist who identified a community void and filled it with
her passion for technology. Graduating with BSc. Statistics Honors from Delhi
University's Lady Shri Ram College for Women, she later pursued an MBA from
the Institute of Management Technology, Ghaziabad. Her decade-long
experience with giants like HSBC Bank & American Express India marked her
professional journey.
However, as she built a loving family, she sensed a loss of personal drive and
passion. This void fueled the birth of SOROR, an empowering platform fostering
sisterhood, understanding, and compassion among women globally. What
started as a blog has evolved into a community connecting millions of women.
She envisions SOROR as a safe space for women to be fearlessly vulnerable,
creating a habitat worth cherishing.
Stay updated with her journey through her newsletter or visit
www.sororedit.com. LinkedIn https://www.linkedin.com/in/tulika-garg/
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