Social Media and online selling a key growth enabler for MSMEs
30 Jun 2022

MSMEs have shown great resilience and tenacity to overcome the impact of the pandemic by adopting a digital first approach and adapting to the needs of the new digital consumer. Currently, 66% of MSMEs use social media as an online selling channel, followed by marketplace (62%), company owned platforms i.e., app (61%), own ecommerce website (54%) and third-party ecommerce platforms (54%).[i]

Digital has been a key enabler for small businesses in India. ​Similar to the trend witnessed in countries such as Singapore and Hong Kong, social media is now one of the most popular channels for selling online. Interestingly, a significant number of small businesses began to sell on social media during the pandemic with 56% calling it a key driver for growth.

While the user-friendly interface and natural transition from non-sale purpose to selling are top reasons to utilize social media platforms, growing competition has emerged as a strong reason for its popularity. 65% of Indian SMBs claimed adopting social media after seeing their competitors do the same. ​

Apart from the fact that selling on social media is extremely easy and promotes healthy competition, it has also helped brands understand and educate their audience on social causes.

 

[i] https://newsroom.in.paypal-corp.com/MSME-Digital-Readiness-Survey-2021

Looking for PayPal Stories? Click to search archive.

Stay up to date

Sign up to receive the latest news to your email.

Subscribe