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Loading the work on social capital theory, we have tried to check the influence of social currency (SC) on social media usage (SMU) and its subsequent impact on the brand experience (BE). The study attempted to ascertain the mediation of loyalty (LT) between the SC and SMU as well as the moderation of perceived ease of use (PEU) in the SMU and BE relationship.

The data were collected from 384 respondents employing snowball sampling technique by administering a questionnaire on seven-point Likert scale. The respondents were the active internet users, who devote the significant part of their daily routine to social media activities. Structural equation modelling was used to study the path of the considered variables.

The result of the study strengthened the findings of earlier studies on SC dimensions. This study elaborated about the positive impact of SC on SMU, SC on LT, LT on SMU, SMU on BE. The study also found the mediating effect of LT in the SC and BE relationship. The study did not identify a moderating role of PEU in the SMU and BE relationship.

By taking into account SC, SMU, LT, PEU and BE, the study adds the knowledge to the social capital theory.

This study aids marketers in adjusting social media strategies for the effective use of SC aimed to deliver enhanced BE. Additionally, it demonstrates the value of customer LT in the context of SC and SMU by customers.

This study is among the few research on the SC of the Indian user and its impact on SMU and BE. Checking the mediation of LT and the moderation of PEU in the SC context makes this study novel and different from any study conducted earlier.

Dynamism has been the key to the success and popularity of social media, and users always try to adapt to the available new changes. Continuous growth in the access and reach of social media in the past decade has enabled the users to make a calculative assessment of their social media usage. Social currency is a phenomenon that helps the customer in their evaluation of social media usage. However, this concept is still in its infancy phase, and there have been hitherto no studies to understand the influence of social currency dimensions on Indian users. This paper aims to study the dimensions of social currency for a better insight into social media usage of Indian customers.

Data were collected from 384 respondents from the biggest residential university in Varanasi through a structured questionnaire using the snowball sampling technique. Responses were taken on a seven-point Likert scale. Responses were analyzed by the factor analysis method using the maximum likelihood estimation model.

The result of this study empirically demonstrated that six dimensions, i.e. conversation, information, utility, affiliation, advocacy and identity, constitute the social currency of the user while browsing social media sites. It was also found that among the factors described above, advocacy emerged as the most influential dimension of social currency for Indian users, followed by identity and affiliation.

The findings have various managerial implications for the firms that want to have a significant social media presence. These findings can help marketers to design a tailored social media campaign for Indian users in an efficient manner by successfully incorporating the aforesaid social currency dimensions in their strategy.

This study also reflects the societal impact of the dimensions of social currency on Indian users, as any change in the usage of social media can have a long-lasting effect on the mood of the people. The influence of the social currency dimension differs significantly in the context of Indian users compared to the existing literature, as they give more value to the behavioural aspect of the social currency (advocacy, identity and affiliation), strengthening the sense of belongings among the members.

This paper highlights, for the first time, the level of influence social currency dimensions have on Indian users, as there have been hitherto no studies to understand the influence of social currency dimensions on Indian users. Another significant contribution of this research is the empirical validation of the social currency determinants. Thus, this study may contribute to the social media strategy of the firm for Indian users by incorporating the social currency dimension, as discussed in the study.