McKinsey says that consumers “vaulted” 5 years of digital adoption in just eight weeks recently. One of the undeniable trends here is social commerce. Social commerce is the facilitation of e-commerce transactions on social media platforms via communities and conversations. It often leverages digital influencers to build customer attraction, trust and loyalty.
Pinduoduo became the third-largest retailer in China via social commerce in just three years. Jingling, another superstar raised $100 million on its Series C last year. In Southeast Asia, we have Ecomobi, Mucho and Fingo making waves in Vietnam. Ecomobi online has transacted over USD 150 Million GMV.
How communities and influencers are making us change our purchasing behaviour
Social Commerce – From nowhere to everywhere. We explore the economics of this sector and the growth appeal to investors
What the social commerce winners in the region are doing differently
Helen Wong – “Early investments into China, then combine how the story develops today.”
Sachin Bhanot – “Paranoia is a great trait of founders when founders say we sleep well at night, we are not able to sleep”