Social media buys on the rise: Study
Summary
Bengaluru: About 62% of Indian businesses accept payments via social media as compared to the global average of 55%. About 57% purchased via this channel in the past six months, with over half of them doing so weekly.For the businesses surveyed, 55% of their sales volume was generated via social media, compared to the global average of 45%.The survey — conducted across 11 countries with about 22,000 consumers and 4,000 business respondents — examined how people shop and sell online. In India, this comprised 2,000 consumers aged between 18 and 74 who owned or used a smartphone and over 300 business influencers or decision-makers who sell or accept payments online.“India has been rapidly moving towards digitisation and millennials are embracing innovative ways of transacting using technology. Mobile penetration gives an impetus to the adoption of digital payments across the country,” PayPal India managing director Anupam Pahuja said. Since the country has come a long way in the adoption of smartphones, and with the availability of cheap data from telecom companies, 70% of consumers preferred mobile-optimised experiences compared to the global average of 43%.