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BusinessSocial Business What do you know about social business?

Social Business What do you know about social business?

Social commerce is the connection point between e-commerce and social networks. Where a brand’s products and services are sold on social media.
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In 2021, the growth of social commerce was 3 times the growth of e-commerce. Social commerce is predicted to be the next generation of e-commerce and will play a big role in the future of businesses.
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But what is the future of social business and how does it affect us?
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Social trade began to grow in China. With the advent of the Corona pandemic, this phenomenon became very popular and developed in different parts of the world.
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It is interesting to know that the social trade market in 2021 in the United States was equal to 36 billion dollars and in China 10 times this number, ie 360 ​​billion dollars!
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But what is the sign of the growth of this phenomenon? And what lessons does it have for brands?
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The growth of social commerce shows the interest of people around the world to buy from trusted portals of friends and acquaintances and informal stores instead of official brands.
In fact, public confidence in their brands and advertising programs is declining. Therefore, brands should invest in direct communication with customers and creating an emotional relationship with them.
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Among the industries, clothing and accessories, electronics, home decor and cosmetics have the largest share in the social trade market, and brands active in this field should be more sensitive to the opportunities and threats in this field.

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