Live E-commerce: The future of online shopping has ventured into the Indian market

Over the years, India has witnessed phenomenal progress in the E-commerce industry due to the advent of revolutionary internet penetration in the country. The market is expected to grow at 20% CAGR to reach the level of $120 billion by 2025 with a visionary aim to make India the second-largest E-commerce industry by 2035.

India’s culturally diverse and dynamic consumer is always on the lookout for an interactive shopping experience. Live E-commerce has emerged as a cult favourite interface that has taken the retail market by leaps and bounds. The live-streaming commerce platform has gained immense popularity in recent years as it allows sellers, influencers, and brands to harness the power of live video-streaming to showcase products or services to a virtual audience in real-time.

A recent survey demonstrated that seven out of every ten Indians believe that live commerce for product demos, reviews, and sales will be useful. The feedback indicates that Indian consumers prefer a conversational retail journey that prioritises offering personalised advice and trustworthy product information from the comfort of their homes which makes live E-commerce an invaluable asset with potential growth in the Indian landscape.

Understanding Live E-commerce in the context of the Indian retail economy

The Indian consumer is renowned for seeking an engaging experience due to which live shopping has gained unprecedented momentum given its ability to create an atmosphere that mimics the immersive shopping experience available in stores. The transformative platform has reshaped the traditional retail episode with its exciting approach that lures users into a community where they can ask questions, seek advice and make immediate purchases.

The GenZ and millennial wave has taken the country by storm which has opened the doors for Live E-commerce to emerge as the most suitable strategy to address the younger demographic with a medium that they resonate with. In contrast to static websites, video-based content starring influencers enhances reliability and transparency, building consumer confidence and trust in the overall shopping experience. It’s a powerful marketing tool, especially in the Indian market for cultivating deep interpersonal connections between customers and brands in the digital shopping sphere.

Exploring the potential of Live E-commerce in India

The success of live shopping in China has inspired the Indian online retail market to expand its horizons by tapping into the realm of this tech-integrated innovative platform. The real-time interaction with the host establishes authenticity and strengthens customer relationships with the assistance of its cutting-edge technology which permits customers to be active participants in the captivating process.

A recent study suggested that 69% of online shoppers say that live interaction with sellers, platforms or product representatives is extremely helpful as E-commerce users are interested in attending live demo sessions that aid in making thoughtful purchasing decisions. Live-steam facilitates a 10-15% average sales conversion boosting the sales of the company.

Live E-commerce has the potential to drive enormous strides in the growth of multiple E-commerce channels within the country. Dominant players like Amazon, Myntra, Flipkart, Meesho and multiple homegrown brands and startups have embraced live video sessions conducted by influencers and experts demonstrating products, introducing creative concepts that bolster sales, enhance consumer engagement and create an immaculate journey.

Live E-commerce in India has grown tremendously over the past years, from having 5K views to 50K views a whopping 10X growth in the last 2 years.

 Additionally, live online commerce represents a tremendous opportunity for the influencer marketing sector providing them with numerous platforms for exposure, with the benefit of wider reach including a substantial compensation reaching around 3 lakhs per session. This powerful synergy between influencers and their audience which leverages authenticity, expertise and direct interaction has broadened the horizons of E-commerce, fostering an altered consumer journey packed with personal touch.

Future prospects of Live E-commerce

The promising shopping channel that is often referred to as ‘Shoppertainment’ is poised for unprecedented growth as more consumers are turning towards digital retail platforms for their shopping needs. It is rapidly gaining traction in the digital landscape given its potential to seamlessly integrate shopping and entertainment by engaging buyers in a series of exciting content, giving the retail experience a new face of digital entertainment.

As the live commerce ecosystem evolves, upcoming features like gamification will elevate the journey adding layers of engagement, targeted marketing and personalisation making every session an episode tailored to consumer preferences. Advanced technology solutions, specialised platforms and a solid influencer network will enhance this medium by continuously introducing thrilling possibilities for both consumers and brands to build a robust community.

Conclusion

In a world characterised by Live E-commerce, India is looking forward to a bright future that is the perfect combination of commerce and entertainment. Shopping has delved deeper, reinventing itself as more than just a commercial transaction, emerging as a community-driven experience wherein people buy more than just products but share conversations that turn into life-long bonds. Hence, we’re on the cusp of a shopping revolution that is uniquely yours, offering unexpected treasures all along the way.