SMBs across APAC 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 through social media. Currently, 53% in Singapore, 56% in Hong Kong and 18% in Japan use social media as a selling channel.
E-commerce has been a key enabler for small businesses in 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 90% of them focusing on digital marketing.
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. 14% SMBs in Hong Kong and 19% in Singapore intend to use and are in the process of streamlining social media solutions for their businesses.
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.