A post on Vator.tv yesterday left me feeling very positive about NextWidgets and the direction we are headed. The post in question was about comments made by Sumeet Jain, a principal at CMEA Capital in relation to where e-commerce is headed. Jain is quoted as saying “It’s a matter of time—within the next five or so years—before more business will be done on Facebook than Amazon.” WOW!!
I, and i’m sure many others in the industry, have thought this for a while, but i’ve never heard anyone actually say it openly. It’s like a David and Goliath thing, where it would seem very presumptuous for any of us building these new tools to say that. Therefore these are welcome words, both bold and very encouraging, coming from an industry expert.
The post continues with Jain saying ” Social commerce will dominate the market, and it will take a number of different forms. Social information will become more available to show how people are linked together, and the social graph will be tied to commerce data to provide more personal and more relevant information. Jain used the example of recommendations, which will evolve to become more personal and immediate.”
We couldn’t agree more with this excellent analysis of where the market for social commerce is headed. What do you think – can social commerce become larger than Amazon ?
More from Next Widgets
- Facebook social commerce is just getting started
- AdMob – a huge success story in mobile advertising
- Facebook storefronts and social commerce get a reality check
- Facebook needs a new approach to advertising in order to increase conversion rates
- The lessons learned by successful startups
