Asia Pacific - November 8, 2017 - The latest survey by PayPal shows that social media is increasingly becoming a digital marketplace for businesses and consumers to buy and sell goods and services, not just as a social networking platform, Increasing demand for efficient payment experience, social electricity providers are promoting the popularity of digital payments.
Recently, PayPal released a survey that "Surpassing Social Networks: Social E-commerce to Drive Digital Payments Development." The survey, which surveyed 4,000 consumers and 1,400 merchants in Asia's seven markets '1', revealed that social networking Business is booming in Asia.In addition, the report explores the positive impact that social e-commerce has on merchants and consumers' financial activities and how digital payment can play a role in channel integration to help sellers on social media platforms achieve safety Sales of products and services.
Enterprise: Social e-commerce promotes the popularization of electronic payments and brings more revenue to sellers
It is estimated that there will be 1 billion users of social media in Asia by 2018, a nearly double that of 2012. 2 Social media platforms have gradually evolved into an attractive business channel for merchants. Of the cost of management, easy to set up and stable consumer groups, making social e-commerce more attractive to businesses.About 57% of the businesses surveyed said that the social media platform to shop more simple, 48% of the respondents think The existing network of friends and relatives on the platform helps their business grow.
Of the respondents, 80% of them have already launched sales activities on social media platforms, of which 72% accept digital payment methods and are currently the most popular payment model in which PayPal (71%) is the most widely used payment platform for merchants in Asia on social media, followed by Alipay (36%) and Google Checkout (25%).
The momentum for social ecommerce expansion is expected to continue, with 80% of the participating merchants who have not yet integrated into their social media channels in their business model, said sales in the future may be through the social media / messaging software platform.
Social e-commerce is expected to be a key factor in achieving economic empowerment and improving financial health, with 92% of respondents saying that social ecommerce has drastically improved their finances.
'Social media started to become popular and popular 15 years ago, and as of today, there is an increasing consumer expectation that social media platforms can have an impact in everyday life.' "According to Rohan Mahadevan, PayPal's senior vice president for Asia Pacific, 'If you sell products and services on social media platforms but do not fit into a payment system that makes for a seamless transition, your sales will be compromised. For PayPal, the easy and safe cash flow for digital payments Is that it is not only a form of transaction, but also a means of achieving economic empowerment and financial health. '
Consumers: Social e-commerce helps to increase the economic opportunities for the general public
Social e-commerce is not only good for business, but it also brings economic opportunities for individuals, and according to PayPal surveys, people are increasingly using social media platforms to sell goods and services, dispose of unused goods, or to provide skills services in return for an economy income.
Among the consumers interviewed, 30% of Internet users said they have started trading on social media, and 93% of respondents who have already done so think social e-commerce helps them gain an economy Independence, with 94% using the platform as a way to realize skills.
In addition to generating additional revenue and improving financials, social ecommerce allows individuals to become business owners and reduce the risk of taking on traditional retail models.89% of consumers surveyed said social ecommerce lowered personal Venture threshold and risk.
Integrate payments and social media to create a financially healthy society
With e-payment, social e-commerce is creating new opportunities for economic development to help businesses and individuals improve their financial performance. For the overall economy, social e-commerce can promote social growth and create jobs.
'Businesses and consumers want a more convenient and smart payment solution that accommodates the different emerging e-commerce platforms such as mobile commerce and social ecommerce,' said Rohan Mahadevan. 'The PayPal.Me service for merchants is a Personalized services that are compatible with different social media platforms for fast and secure trading activities are a big part of PayPal's customer-centric approach By shortening the cycle between product searches and purchases, we provide consumers Provides a very convenient shopping experience, helps reduce the shopping cart abandonment rate and brings more revenue to the merchant. '
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