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Wednesday, August 22, 2012

The Rise of Social Commerce Websites

Last August 11, 2012, I was invited to be a resource speaker on the topic of social commerce (previously called group buying sites) at the first International Business Management Conference. The attendees were around 1,200 students and faculty from different universities all over the Philippines. It was held at the Henry Lee Irwin SJ Theater of the Ateneo De Manila University Philippines. The discussion was about one hour and it focuses on the rise of social commerce websites and how we are changing the e-commerce landscape as well as consumer behavior.

Take note that this presentation is only representing one social commerce website (Ensogo-Living Social) which is the company I work for. But being the market leader (yes I'm claiming that right now), I have shared a few insights on what is the industry like and what are the things needed in order to succeed in this business. Like what my boss always say "the business model is easy to copy, but hard to sustain". I believe that working for a social commerce website is like working for the FMCG industry (or even faster). The environment is so agile that one must be able to adapt quickly.

I will no longer discuss in detail because the slides are self-explanatory. If you have any questions, feel free to comment on this post.

Main takeaway for this presentation: Social Commerce Websites are slowly penetrating the market because it gives the consumers the flexibility to shop virtually and at the same time, empowers each consumer to share their experience as well as learn from other people's experience. The power of "referring" or "reviewing" an item prior to purchase is an essential key in maintaining the healthy transactions in the e-commerce industry.

The rise of group buying sites from Nj Lopez-Tan

A few photos during my talk:


Explaining Current Stats (Online population)

Participants (very attentive i might say :)

SJ Theater

Accepting my Plaque

My Plaque :)