In this release EkaLore considers recent public statements from tech leaders showing intent to pursue ‘everything apps’ combining functions and features from different marketspaces. The global tech leaders are looking at lessons from Dynamic India providing hard numbers and possibilities in global marketspaces. Global tech companies are looking at the success of WeChat in China having 820.2M users and transacting USD$240B for more than 450M of them in 2021.
Earlier EkaLore has written about the 2020 USD$5.7B investment into Reliance Jio Platforms by Meta/Facebook. The Facebook features Reels and Business Messaging were launched first in India. WhatsApp payment features compete with Paytm, PhonePE, and Google Pay in a regulated and highly competitive market space.
In August 2022 JioMart was added to WhatsApp in India. The 500M monthly active users spurred use from an initial launch to 40M payments UPI users to an estimated 100M. JioMart’s integration into WhatsApp drove 37% of new customer participants on JioMart for a business volume increase of 53% and doubled merchant growth on the platform.
WhatsApp business volume is expected to grow past USD$1B in 2023 with Click-to-Ads business growing past USD$1.5 globally.
Meta/Facebook is now taking this Dynamic India experience to markets in Indonesia, UK, Mexico, and Columbia with directory services. Brazil is also accepting payments and online ordering.
Meta/Facebook and other colossal tech firms see the ‘everything app’ as an incredibly popular possibility to move their customer engagement to a different tier. Each tech firm sees the development and deployment of complex data integration, highly personalized services, and market space specific features. The highly successful experience in Dynamic India leads Meta/Facebook to increase its urgency to roll out these capabilities in many more global markets.
EkaLore writes about the unique opportunities that are developing in Dynamic India you can find more Dynamic India observations at www.ekalore.com/india-business
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