BIZO Business Online Pvt Ltd, has launched an Indian Social Commerce portal; OWNOW, aimed at revolutionizing the online shopping in India with growing Social Media users.
OWNOW believes, that Shopping in India is always a Social activity - like, shopping during wedding and festivals.
In the year 2013 there were 86.7 million social network users in India, this number is expected to touch 197 million active users by 2017. India, the second largest smartphone market globally, is estimated to witness tremendous growth in the number of smartphone users, to be around 650 million in the next four year.
With such massive population of India able to access internet and various apps over the smartphone, e-commerce industry is undergoing an exponential growth.
Also, this vast population of internet users combined with social network users has given birth to a new segment within e-commerce: Social Commerce. Augmenting potential of the online retail in the country today is pushing many growth opportunities for the business.
