The global e-commerce industry generates over $1.2 million in revenue every 30 seconds and Facebook, Pinterest and Twitter contribute $5,483, $4,504 and $4,308 respectively every half-a-minute to the figure, according to a study by Assocham-Deloitte.
The study, which was released on Wednesday, said “The maturity of social media and its reach across masses and classes makes it a suitable platform for online sales. Social media pages provide information regarding new products in the market, user reviews and ratings of the product, recommendations, and IT products.
“Social media helps e-retailers build brand awareness by responding to customer queries. Seasonal sales and offers are displayed on social networks to reach maximum number of people.
Besides, payment gateways help the e-retailers to receive money instantly rather than waiting for the cash on delivery payments, thus reducing chances of theft and fraud.
Banks as well as the e-tailers are offering different offers like cash back and equated monthly installment (EMI) to encourage customers for card-based payments.
The availability of e-commerce applications on various mobility devices is helping to drive sales and revenue. E-tailers like Flipkart, Amazon and Jabong now get 50% of their revenues from consumers shopping on their mobile phones, the study added.
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