Social media plays an imperative role in all consumer goods industries, but can be considered even more relevant in the fashion world. As the global social media base passes the 2.0 billion user milestone and internet retailing continues to grow, at a constant 2014 value CAGR of 14% globally over 2014-2019, brands are eager to expand beyond trending hashtags and create a lucrative sales channel.
Developing countries have been making strides in s-commerce, while advanced economies are struggling to capitalise on the opportunities social media presents. According to the latest Euromonitor International survey data, in China and India, 43% of consumers make purchases through social media, while only 11% and 15% of consumers use s-commerce in the US and UK, respectively. Growth in emerging markets is being driven by the dominating e-commerce behemoths Flipkart, Alibaba and TaoBao. These local players have monopolised the s-commerce cycle, controlling the online marketplace, social media platforms and marketing channels.