Amazon is being displaced by social...
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Amazon is being displaced by social commerce: Missing the wave in Asia?
This is an article from "Modern Retail [Japan]," a media that reports on the front lines of the retail industry. *Modern Retail [Japan] is a vertical site within Digiday [Japan]. are being displaced by social commerce apps in Asia. Two companies, Singapore's Shopee and India's Meesho, made significant strides last year to become number one globally, according to Apptopia data shared by Marketplace Pulse. and an e-commerce platform that has grown to become the third-largest shopping app (followed by fast-fashion giant Shein, Amazon slipped to fourth). Both turned to social features to boost online shopping sales. Meeshow India was founded in 2015 to allow resellers to sell items such as fashion and home goods from suppliers' wholesale catalogs to friends and family on social media. Showpy, on the other hand, is a mobile-centric marketplace for low-cost goods, offering live video and extensive social features like allowing customers to follow and message sellers. While Showpy and Me Show downloads increased 46% and 744% respectively last year, Amazon's downloads fell 12% to 148 million, dropping to fourth place overall. There are a few hints as to why Amazon's international growth is declining. Despite fierce competition, Amazon has yet to embrace social commerce in Asia. Competitors, including main rival Walmart-owned Flipkart, are embracing social commerce en masse. Failure to do so risks missing out on India's burgeoning social commerce market. The market will grow from $1 billion to $1.5 billion in 2021, according to Bernstein's predictions shared by TechCrunch. It is expected to be worth $20 billion by 2025.
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