August 10th, Inside Retail Australia
A lot has been said about social media as a viable commerce channel, and it is certainly on the agenda of major Australian retailers seeking to tap into the market of younger, tech-savvy consumers.
However, many CEOs are still trying to work out how to actually turn social engagement into sales. After all, it could be argued that digital platforms are being used solely for brand awareness and to push out content in the hope that fickle consumers will be engaged or be inspired by what is being offered. The use of chatbots is also being explored by brands for consumers service and to potentially clinch sales.
But perhaps for the best glimpse into how social media may be used as another commerce channel, we need to look at China, where the market's use of digital platforms is so advanced it is already identified by major Chinese retailers as social commerce, not e-commerce.