E-commerce Generates $1.2 Mn Revenue every 30 Seconds
The global e-commerce industry generates over USD 1.2 million every 30 seconds, with a major chunk of the sector's revenue being cornered through social media, says a joint study by Assocham-Deloitte.
Facebook, Pinterest and Twitter contribute USD 5,483, USD 4,504 and USD 4,308 respectively every half-a-minute to the figure.
The study report added that 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, it said.
"Social media helps e-tailers to build brand awareness by responding to customer queries. Seasonal sales and offers are displayed in social networks to reach maximum number of people. E-tailers have even started to motivate customers with reward points to provide feedback on the product on social networks," Assocham Secretary General D S Rawat said.