According to Inc42 estimates, with over 5,127 active Indian ecommerce startups, the Indian ecommerce market is set to be valued at $400 Bn by 2030
To succeed in the oversaturated D2C market, brands will have to leverage a combination of the right strategy, influencer marketing, and constant innovation
What’s in store for the Indian D2C space in 2022? Read to find out…
Rising internet penetration and increasing smartphone usage coupled with digitally-savvy citizens have drastically changed the way consumers shop. The ecommerce industry has boomed with consumers increasingly preferring online buying. This shift in consumer behaviour has paved the way for the rise of the D2C segment.
D2C is becoming increasingly popular among customers, thanks to its convenience, seamlessness, and efficiency. And brands who want to embrace the moment and take benefit of the segment’s enormous potential are turning to the D2C route. According to Inc42 estimates, with over 5,127 active Indian ecommerce startups till date, the Indian ecommerce market is set to be valued at $400 Bn by 2030.
What’s In Store For 2022?
An Intriguing Shopping Experience Through Social Commerce
Consumers are looking for hassle-free, engaging, and meaningful purchasing experiences. They are increasingly looking beyond merely the brand name to find creative and personalised shopping experiences. The concept of conversational commerce or social commerce looks like a promising way to bridge the gap between brands and customers, allowing for personalised communication.
The popularity of the D2C sector is growing and will continue to boom. The brands in this space should leverage social commerce to provide an intriguing shopping experience to the customers. This will encourage interaction between buyers and sellers, making buying more engaging, pleasant, and sustainable.
Influencer Marketing: A Trend That Can’t Be Overlooked
With social media popularity growing exponentially, influencer marketing is another trend that can’t be overlooked. It has opened up a whole new platform for thousands of brands to build credibility, brand advocacy, market penetration, and increased engagement. In fact, influencer marketing is projected to expand to a whopping $16.4 Bn industry this year, making it unquestionably a treasure trove of opportunity for brands and content creators.
Today, influencers all around the country have developed strong relationships with Generation Z and millennials. They have successfully recognised their needs and preferences and cater to them through engaging and immersive content. To thrive, D2C brands will need to prioritise enlisting influencers as brand ambassadors and developing personalised communication.
New Advertising Formats And Strategies Through Social Media
To keep up with the ever-changing expectations of consumers, brands must rethink their strategies. The days of brands presenting their product and making a hard sale are long gone. This means that marketing and advertising must become more engaging and meaningful. After all, Gen Z is all about social when it comes to finding inspiration.
So it has become quite evident that you must be social if you want to capture the attention of young consumers. Brand marketers have realised that the most successful way to reach out to their potential customers is through messaging, including WhatsApp messaging, Instagram messaging, Facebook messaging, live chats, and chatbots via their websites. It facilitates customer engagement and compensates for the lack of personalisation in an online store.
Live Commerce Comes Into The Picture
With customers’ penchant for engaging content and the availability of a plethora of choices, capturing and retaining their attention is a challenging task. They expect entertainment and utility in one package and aren’t interested in ordinary email, text, or television marketing.
This is where live commerce comes into the picture. Live commerce, which blends instant purchasing with entertainment, gives brands and consumers a new channel to add value to social commerce and engage customers. This allows brands to improve customer acquisition, retention, and satisfaction.
It can improve a brand’s appeal and distinctiveness amongst customers. Furthermore, with technological improvements, live commerce coupled with technologies such as augmented reality (AR) and virtual reality (VR) are guaranteed to keep consumers engaged and enhance the buying experience. Platforms with live shopping experiences have already been accepted in China, Korea and the US and show great potential in India.
Sellers across marketplaces need to keep up with fast-evolving customer expectations by providing fast and quick delivery of products. Customers consider fast delivery synonymous with same-day delivery.
To meet the needs of customers who are unable to wait or can’t make it to the shop, same-day delivery is very valuable. Customer satisfaction will be higher if they are able to place purchases or pick up returns on the same day. When you provide a streamlined client experience, people are more satisfied.
The customer has the final say with a bouquet of alternatives and an ever-expanding basket available to him. D2C brands that understand their customer’s demands and adjust their offerings to meet those needs will succeed. Customer satisfaction also comes with streamlined delivery service and quality of products.
To sum it up, there isn’t just one way to succeed in the oversaturated D2C market. These brands will profit from having the right strategy, leveraging influencer marketing, and innovating constantly.