Entrepreneurs Cobble Together E-Commerce from Disparate Social Media

Categories: economy

What? South East Asia (SEA) is a mobile-first e-commerce market dominated by social media platforms such as Facebook, Instagram and Twitter. As a result, a unique SEA business innovation is "shadow marketplaces" in which entrepreneurs turn social media platforms into virtual retail spaces, for example by posting inventory on Instagram. Customers use a popular messaging app to make purchases and verify payment by sending a screen capture of their payment confirmation to a payment platform.

So what? The SEA experience shows just how extensively customers and entrepreneurs are willing to explore new ways of combining existing social media services to create new commerce platforms. If this shadow innovation continues at a rapid pace, social media companies may be pressed to expand their free services while attempting to monetize their services, the same internet-based challenges faced by other sectors, notably music, media, and online games.

Source: Tech Crunch - Why Southeast Asia Is Leading The World’s Most Disruptive Mobile Business Models

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