Solopreneurs are using a mash up of social media and logistics for commerce
Bangladesh has a flourishing e-commerce industry without an Amazon like player. It uses Facebook for the e-commerce. 50% of Thailand’s online sales take place though social media.
Sellers on Facebook outnumber sellers on local e-commerce websites. About 3 lakh informal businesses exist on Facebook. They sell ornaments, apparel, cosmetics, mobile accessories, and birds. Sellers store their inventory at home. They deliver via third-party logistics companies. Payment takes place either online or offline. They also use live-streaming to attract more customers. The downside is the absence of standard refund policies, fraud, no legal framework and fewer payment options.
Nilesh Christoper writes in Rest of World: No equivalent exists in the West, where Facebook’s forays into commerce have been met with a muted response. For a 162-million-strong country struggling with poverty and limited job growth, this new model of business is illustrative of the South Asian concept of jugaad — making do with what’s available. And it already has a name: F-commerce.
Facebook has invested in Jio in India. It aims to develop a similar ecosystem in India, except with a more formal structure. It will use its partners such as Shopify. Whatsapp will also enable Facebook to onboard local and small businesses online.
Know more: Indian social commerce Link