Why Singapore retailers should focus more on Social Commerce

24-03-2014 06:32:33

For those businesses based in Singapore the next big thing that they can use to help use to improve sales is Social Commerce. Singapore is known to be one of the largest users of Social Media and this is why more companies should begin to use this platform to become more successful with their digital Marketing. Simply put this Social Commerce, although not new, can incorporate the well-known Social Networks to push sales.

There are a number of different Social Commerce platforms that can be used and these are:

  1. Peer to peer sales which includes the likes of Amazon and Ebay are based on communities where sales are made directly between people.
  2. Sales that are pushed by Social Networks such as Facebook and Twitter. This is through referrals mainly.
  3. Group purchases, where products are offered at a cheaper rate should enough people show an interest in purchasing.
  4. Recommendations have a big influence on sales, and these kinds of platforms can have a huge impact on sales based on reviews.
  5. Sites such as Pinterest, where users create lists, these kinds of Networks can encourage and inspire people to make purchases.
  6. Participatory commerce is a great tool as consumers have some form of input into the creation of the product.
  7. Then there are the sites that recreate shopping offline where information can be exchanged between people.

The interesting fact is that Social Commerce has hardly been explored in Singapore but it is believed that a large number of consumers are inspired by social networks, which proves that this is something that they need to focus on in order to improve sales figures. The latest ideas being used is creating social networks based on e-commerce platforms, where brands are linked up with them and shopping online is given more of a window shopping experience.

The idea is to be creative and this means that the marketing has to be right. This means driving sales to the extent where different forms of media are joined together as one. This is where retargeted advertising can come in to use on Social Media, reminding users and consumers of items they may have looked at and may want to purchase.

It is all about building a relationship between consumers and businesses and even referrals can through social media websites can yield a great return, due to the potential audience and the fact that billions of people use Social Media on a daily basis. This is where Singapore has to seize the opportunity and link the two together to really have a serious impact on sales figures. With a country like Singapore being so connected it should be easy for brands to really promote their products with promotions and offers. The figures can change dramatically over night which is Social Commerce is something that really needs to be considered by all businesses in Singapore.