This is part 2 of Ekalore’s Diwali Inspired post about eCommerce rising in India. This post focuses on companies that are part of that eCommerce boom
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The current Festive Season in India has merchants bringing out online shoppers for everyday goods, bigger ticket items, and gifts. Penetration of smartphones (see https://www.ekalore.com/post/dynamic-india-jio for more analysis) enabling mobile video is also driving Live Streaming for shoppers. New to this Festive Season is Amazon’s use of Live Streaming with buying options. Amazon will run 15 streams of promotions for 15 hours a day. Alphabet/YouTube is linking Shopify merchant profiles to their YouTube channels in some markets. Competitors Myntra, Nykaa and Flipchart (Walmart India) also use Live Streaming. Myntra has publicly claimed a growth of more than 10x for live eCommerce in 6 months after starting Live Streaming. Indian shopping uniqueness and Festive Season are building atop each other in a Dynamic India.
Dynamic India has seen venture-backed live-streaming firms acquired for their market savvy. Firms bought include SimSim (funded by Accel Partners, acquired by YouTube) and Bulbul (funded by Sequoiam, acquired by Good Glamm Group). The Asian use of Live Streaming is similar in concept to satellite-video-based shopping channels in North America or Amazon’s NA video promotions. China’s Alibaba Singles Day had two influencers live streaming products in 2021 that sold USD$2.61B of products on opening day. Indian eCommerce merchants are hoping for accelerating uptake as shoppers trust demonstrations and influencers.
Search engine activity, surveys, and anecdotal evidence all point to consumers willing to spend – after shopping online for the best deals!
To read more about EkaLore’s thoughts on Dynamic India you can find more posts at www.ekalore.com/india-business
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