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Study on Impact of Social Media on Buying Decision of Consumer Goods


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1 MVM Degree College of Commerce & Science, Mumbai, India
     

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India is the 2nd largest footwear producer in the world, with 9 percent of global annual production which comes to 22 billion pairs. Of this 90 percent are domestic internal consumers. The Indian Shoe market is worth of Rs. 30,000 crores to Rs. 40,000 crores. Consumers today have begun to increasingly purchase services from Internet and also other tools from web. The reason for this fact can be understood due to the fast aged development of technology and due to development of channels of communication. Amidst these developments, one of the few important tools is social media. Along with this, access to information related to products and services has increased on a large scale. This can be assigned to social media. Thus, it's clear that in today's era popular social networks viz. social media elements like Facebook (FB), Twitter, Instagram (Insta), Snapchat have become great consumer markets. Therefore, many companies these days have pages on social networks to complement information held about products, held by the feedback of consumers about products and tend to relate more to a specific company after reading different reviews. This study aims to know how social media affects our lives in terms of activities related to products viz. shoes, and also to determine the consequences of social media networks on consumers' buying behaviour. It is to be perused that study considered a set of 101 youthful customers who fall amidst the age (in years) criteria of 18-25 and along with that fact use social media networks (having an account). Random sampling method was used to finalise the study group as study required only those customers who have purchased a pair of shoes during the last year i.e. from Jan 201 7 onwards. Also, customers were selected only from two social networking platforms viz. Facebook and Instagram. Questionnaire was delivered to the respondents through Facebook, Instagram and WhatsApp to get the required and essential data to carry out the study; the questionnaire for study was developed by researcher. For details of the questionnaire: 1st part of it included Questions related to physical activity and social media usage whereas the second part had questions related to demographic information of young people. Microsoft Excel was also used as a tool for analysis of the numerical and statistical data which was obtained from the responses of different users of social media. The outcome of the survey indicates that less than 70% of consumers referred social media before purchasing their latest shoes. These customers on an average do less than three types of activities related to products on social media. Customers across different education backgrounds use social media differently but male and female customers do not show much difference in their usage of social media before making a purchase. Customers treat shoes as high involvement category irrespective of the price point as they readily invest time in making the right purchase.
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  • Study on Impact of Social Media on Buying Decision of Consumer Goods

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Authors

Darshan B. Pagar
MVM Degree College of Commerce & Science, Mumbai, India

Abstract


India is the 2nd largest footwear producer in the world, with 9 percent of global annual production which comes to 22 billion pairs. Of this 90 percent are domestic internal consumers. The Indian Shoe market is worth of Rs. 30,000 crores to Rs. 40,000 crores. Consumers today have begun to increasingly purchase services from Internet and also other tools from web. The reason for this fact can be understood due to the fast aged development of technology and due to development of channels of communication. Amidst these developments, one of the few important tools is social media. Along with this, access to information related to products and services has increased on a large scale. This can be assigned to social media. Thus, it's clear that in today's era popular social networks viz. social media elements like Facebook (FB), Twitter, Instagram (Insta), Snapchat have become great consumer markets. Therefore, many companies these days have pages on social networks to complement information held about products, held by the feedback of consumers about products and tend to relate more to a specific company after reading different reviews. This study aims to know how social media affects our lives in terms of activities related to products viz. shoes, and also to determine the consequences of social media networks on consumers' buying behaviour. It is to be perused that study considered a set of 101 youthful customers who fall amidst the age (in years) criteria of 18-25 and along with that fact use social media networks (having an account). Random sampling method was used to finalise the study group as study required only those customers who have purchased a pair of shoes during the last year i.e. from Jan 201 7 onwards. Also, customers were selected only from two social networking platforms viz. Facebook and Instagram. Questionnaire was delivered to the respondents through Facebook, Instagram and WhatsApp to get the required and essential data to carry out the study; the questionnaire for study was developed by researcher. For details of the questionnaire: 1st part of it included Questions related to physical activity and social media usage whereas the second part had questions related to demographic information of young people. Microsoft Excel was also used as a tool for analysis of the numerical and statistical data which was obtained from the responses of different users of social media. The outcome of the survey indicates that less than 70% of consumers referred social media before purchasing their latest shoes. These customers on an average do less than three types of activities related to products on social media. Customers across different education backgrounds use social media differently but male and female customers do not show much difference in their usage of social media before making a purchase. Customers treat shoes as high involvement category irrespective of the price point as they readily invest time in making the right purchase.

References