Video commerce to revolutionize how India shops
India’s retail and Commerce landscape is growing in leaps and bounds, leading to an unprecedented need for digital first brands and avenues
Consumer is king, they say. It’s true: businesses are constantly developing to serve the needs and demands of their consumers, and it is no different in this sector as well. Our research suggests that a new breed of online shoppers have emerged, and they’re asking for more. Here’s our story on the latest retail channels, and the huge opportunity that it is paving for digital-first brands.
1. India’s retail and Commerce landscape is growing in leaps and bounds, leading to an unprecedented need for digital first brands and avenues.
The current B2C retail landscape is evolving rapidly with the emergence of new consumer behaviors and expectations.
2. Supported by >$1 Bn funding in 2021, social and video commerce is going mainstream
This growth is being powered by the increasing adoption of smartphones, which are becoming the mobile commerce platform of choice for consumers in Tier 2 and 3 cities.
3. With rising traditional players’ interest and multiple models to serve, video Commerce has massive opportunity in India. China’s case study is a testimony to that.
This is because consumers are increasingly turning to video to learn about new products, compare products, and share experiences. Video commerce enables brands to tell their story in a whole new way, in a way that is engaging and entertaining. It further helps them to build a relationship with the consumer, which ultimately strengthens the brand.
The rise of new retail channels, particularly video and social commerce, is further changing the way consumers shop and what they expect from brands. As a result, Digital First Brands are finding it increasingly rewarding to engage with consumers in these channels and offer them a seamless, omnichannel experience. The success of such brands will depend on how effectively they leverage these new retail channels and how they innovate on the digital front to offer a superior omnichannel experience.