Efficacy of Social Media Usage on the Performance of SMEs in the Fashion Industry

Introduction

Internet advancements have had a significant impact on business success over the past two decades. Web 2.0 applications give people the chance to bring internet functionality into social settings where they can engage in online social interaction. Social media is a useful cyberspace for finding up-to-date, accurate information. Online learning and information sharing are made easier by the widespread usage of social media. Social media enables people to communicate and create content without the requirement for physical presence. Additionally, social media has been viewed as a powerful advertising tool for businesses to achieve their commercial objectives and improve performance. Most businesses use social media to boost their brand awareness and image, Additionally, eWOM (electronic word of mouth) is influenced by firm branding tactics via social media. As a result, eWOM draws customers and strengthens their intent to buy. Consumers have access to a variety of sources of shared information from other customers regarding their experiences and recommendations by using social media. This has an impact on their shopping choices. As a result, social media's crucial role in building relationships and trust with clients, suppliers, and future partners is a crucial factor for businesses. Participating in social media can benefit a company's brand value (Nisar & Whitehead, 2016), sales growth (Kumar, Bhaskaran, Mirchandani, & Shah, 2013), e-commerce and social commerce (Hajli, 2014), consumer trust and stickiness (Zhang et al., 2017), among other benefits. innovation and new product development (Roberts & Candi, 2014); knowledge sharing (Munar & Jacobsen, 2014); CRM, customer relationship management, (Rosman & Stuhura, 2013), eWOM (Ladhari & Michaud, 2015). Therefore, social media are regarded as one of the contemporary electronic marketing tools that are distinct from other traditional marketing techniques.