Some reports on D2C growth in India are surprising:
There has been an up to 80% growth in customers searching for a brand’s official store as well, the Google India report said
Influencer-led Live commerce is a form of interactive commerce that integrates recommendation tools right into the buying experience
In 2019, the size of the e-commerce market in India was estimated at $50 billion. The current rough estimate of e-commerce in India exceeds this in large leaps: $84 billion. It is expected to become India’s new hectocorn category as it crosses $100 billion sooner than ever before.
The beauty of D2C is the fact that it disintermediates the selling and buying process. There is no intermediary, no e-commerce platform in between.
Customer adoption to video shopping during the pandemic has skyrocketed and both SMB’s and large business houses like the TATA’s are starting to take notice. Take Tanishq for example, who recently sold over INR 100 Crore ($13.5M) worth of Jewellery through WhatsApp video calling in just 2 months. Several other retail brands such as Kalyan, Crocs, Pothys, etc are now following suit. Global ecommerce tech companies like Etsy saw a 2X jump in GMS from $5B+ to 10B+ after adding video as a feature while Shopify has begun listing live shopping apps on its marketplace.
Live or video commerce is gaining traction in the Indian ecommerce market, with a potential to reach a size of $4-5 billion GMV by 2025, according to a research report.
Live commerce is a form of online shopping where customers can shop during live video streaming of events. It has become a viable way for brands to market, communicate, and sell products online. In its previous avatar, it was called teleshopping, where hundreds of products were advertised on television. Now, in the digital age, it has become much more engaging, creating bigger opportunities. ~ By Your Story Media.
“Consumers are moving from traditional transactional ecommerce environments to one that incorporates social engagement, fun, and storytelling at the core of customer experience,” noted consultancy firm Zinnov in its whitepaper titled ‘What Is Shaping India’s Digital Economy: E = MC2 (Mobile* Content* Commerce*)’.
Video Commerce – A growing market in India:
The live or video commerce segment in India is still in its nascent stage, and has the potential to be the next big thing in the content space.
At present, some of the top players in the segment in India include Bulbul, Simsim, etc. Simsim was acquired by YouTube in July this year. The video commerce startup leverages content and creators to connect shoppers with the sellers. ~ YS Media.
As a D2C digital agency team, we are assisting small and mid sized (start up as well) D2C companies with influencer lead video Commerce campaigns. Call us at +919674975029 to discuss the scope.