Influence of Social Media in Retail Industry

venkatesan | July 24 - 2012

The social media has created a revolution in all the industry by improving the channel for communication. Among the many industry that have benefited with the social media, the retail sector has experienced notable advantages. The social media such as Facebook, LinkedIn, Twitter, and GooglePlus have helped to create a community that is helping the retail industry to promote the business.

Some of the main advantages of social media for retail are listed below.

  1. Direct contact: The social media provides an environment where the customer gets an opportunity to directly contact the merchant. The queries, complaints, and enquiries can be attended easily and directly.
  2. Instant Messaging: The social media gives a constant contact which allows to pass information quickly even at any cases of crisis. The Twitter is one such application that can quickly spread the latest information within 140 characters. The other social media also help to communicate the important message quickly.
  3. Promotional activities: The social media has become one of the best medium to promote the products and services since it can reach the public quickly. It can be used for campaigning or marketing promotion. The social network is built systematically such that the message is communicated properly.
  4. Customer loyalty: The main advantage of social media is earning customer loyalty. The brand established by the promotion through social networks can be compelling for the customers to become a loyal customer for your products and services.
  5. Understanding market: The social media helps to understand the success and failure of the product or services in the markets along with knowledge of rivalry market which helps to enhance the business.

Importance to mark presence: The social media reserves its importance for the retail industry since people tend to use the social networks for seeking recommendations for the products and services. So, it is highly essential for today’s retail market players to make their presence in social media too. The retailers can keep track on the needs of the customers and read their mind. The social media can be used to locate the niche market by searching using the right keywords. The retail brands can be watched for its importance in the market by following the industry conversation in the market.

The social media can be one of the friendly media for following the customers as well as get followed by the icon customers in the retail industry.