AngelCentral Deep Dive Series: Understanding and Investing in Social Commerce Startups
Social media platforms have morphed into staging areas for commerce, market research, and web3 moonshots, influencer marketing has now mutated into lead-generation and fulfillment funnels. Work-from-Homes (WFH) and lockdowns have re-written the definition of both "social" and "commerce", the increased e-commerce basket size point to the entry of larger-ticket high involvement products and differentiated commerce models.
In 2021, 90% of Instagram users followed one or more business accounts, and up to 44% of their users shop weekly through this platform using features like shopping tags and the Shop tab. The trend accelerated through the months of lockdown and self-isolation during the pandemic. A new future in e-commerce may have been rewritten.
Hence, with this context, what is social commerce, live commerce, conversational commerce, token commerce, and not forgetting community group buys? How are all these changing the role of affecting e-commerce?
As investors, what are the opportunities with these new 4Cs - commerce, community, conversation, and credit rolled into one? Will this spell the end of physical shopping?
To explore this topic, we have Jeffrey Seah, founding partner at Asia Fund II Quest Ventures who has mentored and invested in numerous media, commerce, and Metaverse startups deriving from his data and ad tech background. With his MNC advertising executive background, Jeff will share with us his views of the MCM investment landscape. Joining the workshop panels are Ser En of Sendjoy and Wei Qing of Vybes, both founders in the MCM space.