Two to tango: Content revs up ecommerce
The ecommerce market in India has been witnessing a rapid evolution in recent years with the emergence of newer formats like direct to consumer (D2C) and social commerce.
Brands have now started exploring live commerce, popularly known as video commerce, on their platforms to onboard new customers.
Live commerce allows customers to shop during live video streaming of events, and is fast becoming a viable way for brands to market, communicate, and sell products online.
Image credit: How India shops online 2021 - Bain & Company and Flipkart
While the segment in India is still in its nascent stage, there is a huge potential in the blend of content and commerce. At present, some of the top players in the segment in India include Bulbul, Simsim, etc.
In a report titled ‘How India shops online 2021’, Bain & Company and Flipkart notes that video content consumption has gained traction, giving birth to a substantial community of local creators and influencers.
The COVID-19 environment has also played its part as the work from home scenario is driving higher video consumption.
In a fun chat on Influencers Inc by YourStory, Shlok Srivastava, aka, Tech Burner talks about the booming influencer's economy and the growth of the 'tech' space in the content world.
Editor’s Pick: The Turning Point
It was Ithaka, a poem by Constantine P. Cavafy, that set banker Falguni Nayar on an entrepreneurial journey in 2012. She realised the meaning of the poem: cherish the journey rather than the destination.
This was a turning point for Falguni, which led her to launch the online beauty marketplace, Nykaa. Read more.
Many retail brands consider digital critical for business continuity and see it as a key piece of their future growth strategy. Goa-based SaaS startup Browntape enables offline players or digital native brands to quickly offer their products across online channels simply and cost-effectively. Read more.
News & Updates
- CRED launched a new P2P lending product called CRED Mint to enable its members to earn more interest on idle money they have in their savings account by lending it to other members. Members who sign up to lend on CRED Mint can earn up to 9 percent interest per annum.
- Caesar Sengupta has launched his fintech startup within four months of exiting Google. The new venture, Arbo Works, is the handiwork of Caesar and former Googlers David Shapiro, Felix Lin, and Zelidrag Hornung.
- Emcure Pharmaceuticals’ next big bet is mRNA vaccines for COVID-19, the company's Founder and MD Satish Mehta told YourStory. The pharma major is believed to be on track to deliver 60 million doses of the mRNA vaccine by the end of this year.
- Facebook India launched a ‘Small Business Loans Initiative’ programme, where it has partnered with fintech lending startup Indifi to help small and medium businesses (SMBs) avail of easy, collateral-free loans.
Before you go, stay inspired with…
Piyush Shah, co-founder, InMobi Group, and President & COO, Glance
“Mobile shopping is going to change dramatically. Traditional commerce is very functional, and we feel consumers want authentic and entertaining experience in a live manner in many categories, which is done by influencers or celebrities.”