How Social Media changes the way we do business

How Social Media changes the way we do business

May 4, 2020 0 By Shona_quinn

Social Media has a huge impact on Businesses. And There are a lot of features and tools that help with an online business store. A common example would be An Instagram or Facebook page. These two application recently added a business features into their application in order to turn the profile into a business type profile. To support and help with the business statistics and gain more audiences through the application. However, some features required to be paid for in order to access some of it which is typically how we do business but in an online platform.

This is an example of both Instagram and Facebook business profile, they offer a new way business can communicate and interact with their customers and clients. It allows the customer to chat directly on social media which is a process that is convenient for people to contact with businesses to make orders, inquiries and raise grievances or simple seek assistances.

Specialized Application

However, there are a specialized application that is made for online business directly such as Shopee and Lazada. These two are an e-commerce application that allows stores or an individual to sign up fo their store within the application support. It is the two leading e-commerce in Thailand that tends to grow gradually and more competitive in this era.

Shopee and Lazada are the two big companies and both competitive towards each other, as a lot of we know they often give out cash back from a payment with credit card and a discount code in order to attract more customers. Additionally they offer a range of payment methods such as Paypal, credit card, Mobile banking and cash on delivery etc. These methods allows more audience to use their application since people have different wants and needs and the same as the payment method that play a big role to gather more audience from different interest.

Moreover, according to the Electronic Transactions Development Agency (ETDA), under the Ministry of Digital Economy and Society, the market value of Thailand’s e-commerce is worth more than Bt3 trillion a year and expected to see a significant growth of 20 per cent this coming years. The president of Thailand e-commerce, Thanawat Malabuppha, said there were more than 20 million online shoppers in Thailand in the first six months of this year with more than 50 million products on sales on an online platform s. It will increase to about 62 million products by the end of this year. “This reflect the fact that the numbers on individual online sellers hav been increasing by 29 percent, said “Thanawat”. Source: https://www.nationthailand.com/business/30373927

Moreover, Lazada was registered as a company involved in e-commerce business in Thailand in 2012. The company posted total sales revenue of about Bt 1.62 billion in 2014. On 2019 the company earned Bt 1.6 billion in sales revenue in the first quarter, up from Bt 1.75 billion for the first quarter of the previous year. The company also posted accumulated losses of more than Bt 2.6 billion in the first quarter of 2018. Source: nationthailand

Mobile Website vs Desktop

These application are featured on both mobile phone and on a desktop. Customer can visit the site through an application and site to make an online order. Although mobile application/site are an important aspect of e-commerce, where the e-commerce websites remain relevant to consumers as well. Despite, the study found out that a consumers were more likely to conduct purchases via desktops as compared to mobile phones. Shopee take the spot of most visited e-commerce platform in Southeast Asia with average total of 184.4 million visits on desktop and mobile web on the first quarter of 2019.

Lazada makes a total 12 percent in total average visits when compared to the previous quarter, obtaining 179.7 million visitors in Q1 in 2019. A website called Tokopedia (Indonesia), Bukalapak (Indonesia), and Tiki (Vietnam) were the third, fourth and fifth most visited e-commerce site in Southeast Asia respectively although they were only available in a single market. Source:https://www.entrepreneur.com/article/333470

Chinese and America Apps Ruling the SEA Region

Among the six countries mentioned above; China and America also have a top ranked e-commerce site/ application that is as popular as Shopee and Lazada. Such as AliExpress, Amazon, eBay, TaoBao and Alibaba. Chinese e-commerce application such as TaoBao performed well in countries where there were more consumer proficient in the Chinese language or Mandarin such as Singapore and Malaysia. Moreover, Amazon were also remain highly ranked in Southeast Asia zone as well. The e-commerce app was actively used in the Philippines as compared to Alibaba which is in the ninth place. In SEA, Amazon successfully launched its services in Singapore in 2017 with Amazon Prime now and it currently ranks at the nonth place in the list of monthly actively used mobile shopping apps in the city-state.

Facebook Market-Place

Facebook Market-Place has recently became popular due to its easy access platform, since it is just a single icon at the bottom or on top of our Facebook menu to enter the market-place area within your local community

Facebook is where a billion of people on earth connected, and in recent years more people have been joining Facebook to connect in another way; which is buying and selling product with each other. This feature has been started from Facebook Groups each month – from families in a local neighborhood to sellers around the world.

In order to help people earn more money and make connections through an online platform that they are used to like Facebook; without having to open a business profile page just their Facebook account, which is very convenient for some group of off-line sellers who isn’y familiar with online business platform. Marketplace makes it easy to discover new things around your local area. Moreover, it is a free feature provided which means there is no need to be paid for the cost of our product. which will significantly increase a lot of audiences in the marketplace sector. Showing the fact that social media could changes the way we do businesses in just a single click on our mobile phone and desktop.