E-commerce giants are trying to create a confluence of their social media programs and their core business of selling goods
Flipkart recently made investments into their re-commerce program
The change in consumer behaviour could give a rise to the refurbished goods market in India
Ever wondered how Gen Z or digital natives shop online? What drives their buying behaviour across e-commerce portals in India? A recent report by Accenture titled “The next billion consumers” tries to answer just that, revealing some really interesting insights about the behaviour of this new crowd on the internet and their impact on global digital commerce.
As per the report, 80 per cent of digital natives or Gen Z use social media, search engines, and videos published across platforms to research their online purchases, be it technology-related gadgets or weekly groceries. This has also been reflected in the behaviour of other stakeholders in the space as well.
E-commerce giants in India, such as Flipkart and Amazon, are gunning to create a confluence of their influencer programs and shopping experience. Flipkart’s TechSpert on Instagram and Amazon’s Live Streaming on their own platform are prime examples of this shift to a space where the world of social media meets e-commerce.
Likes and reviews matter while shopping online
When we look at it from a technology space, the rise in the number of channels reporting on tech launches and doing reviews of products shows that there is more dependence of the consumer on online reviews than ever before, a fact validated by Accenture. As mentioned in their report, 76 per cent of digital consumers are influenced by the likes and positive reviews of products on social media when they are planning to make a purchase.
Even things like easy return policies have prompted the modern-day digital consumer to look to the internet when they make purchases. This is a really interesting trend highlighted by the report, and it points to another really interesting market that would open up in the technology space in India – refurbished goods.
Major e-commerce platforms already have a refurbished goods program in place, with Flipkart recently making heavy investments into their re-commerce portal too.
From the looks of things, the future looks promising and really interesting. And, with technology brands becoming more active in India than ever before, a shift in buying behaviour and expansion of markets seems to be on the horizon.
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Satvik Pandey
Satvik Pandey, is a self-professed Steve Jobs (not Apple) fanboy, a science & tech writer, and a sports addict. At Digit, he works as a Deputy Features Editor, and manages the daily functioning of the magazine. He also reviews audio-products (speakers, headphones, soundbars, etc.), smartwatches, projectors, and everything else that he can get his hands on. A media and communications graduate, Satvik is also an avid shutterbug, and when he's not working or gaming, he can be found fiddling with any camera he can get his hands on and helping produce videos – which means he spends an awful amount of time in our studio. His game of choice is Counter-Strike, and he's still attempting to turn pro. He can talk your ear off about the game, and we'd strongly advise you to steer clear of the topic unless you too are a CS junkie. View Full Profile
