Consumer Feedback Analysis Through Social Media for B2C Electronic Companies in India

Abstract

Indian B2C electronic commerce market is rising at an aggressive pace of 21.3% and is likely to reach $28 billion revenue by 2019-2020 with annual growth rate of 45% in next 4 years. Also, the electronic commerce contributes 1.23% of the consolidated 7.6% GDP of India. The electronic commerce progression rate for India is expected to be 31.2%, as compared to 9.9% and 8.3% for China and Australia, respectively during 2016-2021. Also, B2C electronic commerce industry in India is the fastest growing industry, as matched to other industries, and has reached $38 billion market value in 2016, a jump of 67% from 2015. Also with mobile shopping further maturing and consumer mindshare continuing to split across multiple devices, these companies struggle to align consumer interactions with business strategies. It is due to this reason, they use social media for better consumer interactions and spreading brand awareness digitally. It is presumed that social media has the ability to increase sales because of their strong online presence. Also, when these companies communicate with consumers through social media networks, they are able to get feedback instantly, which gives them quick acumen into what they want. The current study focuses on an analysis of these feedbacks collected by top 5 B2C electronic companies in India, namely, Amazon India, Flipkart, Snapdeal, Myntra, and eBay India. The feedback analysis is conducted based on the tweets from these companies on Twitter for 3 months, from 01-01-2017 to 31-03-2017. The experiment is conducted using Naïve Bayes Algorithm for 1500 tweets and places the response into one of the quadrants on proposed investigation model called 4AIM - 4A Investigation Model. Based on the outcomes, the study adopts the generic social media strategies (BWDC, 2014), which these companies can embrace and implement accordingly.

Keywords: Electronic Commerce, Naïve Bayes Algorithm, 4AIM, Amazon India, Flipkart, Snapdeal, Myntra, eBay India, Social Media Strategies

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