Havas Media Network India released a whitepaper decoding the evolving Indian e-commerce and shopping landscape. The report revealed that shoppers prefer shopping from top e-commerce websites like Amazon/Flipkart as it offers them ease of shopping like easier return, better service & quality products. Consumers continue to prefer top e-commerce sites for standard and high-value products; brand-owned websites are considered for Fashion, Beauty, F&B and Personal Care.
There are many benefits of shopping off branded websites as per the report. Gen Z and Millennials, being more experimentative, are exploring different shopping channels. They are moving beyond top e-commerce sites, shopping on brand websites and D2C brands. Shoppers are slowly getting comfortable shopping directly from brand websites.
Horizontal e-commerce sites continue to lead on the back of functional benefits like the convenience of e-shopping and pricing. As consumers evolve and move from functional to personal benefits, they demand premium and authentic products along with enhanced shopping experience. Consumer demand for a better experience and product quality has also paved the way for “Luxury” shopping online like TATA Cliq Luxury.
Then there is the social commerce hype. Social media is transitioning from brand engagement to brand delivery. Brands are using social media to create visually appealing ads, leveraging user-generated content, collaborating with influencers & offering social e-commerce platforms to build credibility and trust.
It is enabling brands to showcase their products & engage with consumers directly. I. Consumers are captivated by the high-quality enticing format a central role in the brand discovery of newly launched D2C brands – 44% of shoppers discover new brands through social media. Consumers trust social media as they feel closer to the brand with a direct linkage to the website and chat options.
The convergence of emerging technologies such as Augmented Reality (AR), Virtual Reality (VR), intelligent Chatbots like ChatGPT, voice assistants, and Web 3.0 is revolutionizing the world of consumer shopping. These emerging technologies are dismantling traditional shopping norms, allowing customers to visualize products through AR/VR, engage in natural and personalized conversations with Chatbots, and participate in decentralized shopping experiences that foster trust and engagement.
For consumers, tech is convenience. Being technologically proficient relates to convenience, especially when it comes to online shopping, bill paying, and information access. The vast amount of online information empowers consumers to make informed decisions about products and services, even though it can be overwhelming at times.
Technology provides centralized access to shopping, food, groceries, and other consumer needs, acting as a convenient one-stop shop. Emerging tech like chatbots aid in seamless shopping experiences. Chatbots are widely used in various industries, including e-commerce, food delivery, insurance, tech support, and telecommunications.
Voice-activated assistants like Alexa are seen as very useful for performing quick tasks such as controlling fans, ordering from e-commerce stores, and answering questions quickly. AR/VR eliminates the need for physical touch and enables customers to view products in their own environment. Virtual try-outs increase consumer confidence towards the brand.
Technology is a form of empowerment for consumers. It is a tool that helps bring a change in their lives and lifestyles. Therefore, the brands need to adopt AR/VR and Conversational AI technology that are accessible 24×7 to win consumer confidence and trust. Voice-controlled devices can be used by brands – this can answer çonsumers’ common queries with respect to products/services.
Being technology savvy is not a choice anymore but a necessity. It is a tool for self-enhancement, growth, and confidence. Technologies such as AR/VR, Web 3, Chatbots, and ONDC are here to stay, and brands cannot afford to ignore them. Emerging tech is now being adopted & leveraged in organisations at various stages of usage & deployment. It is no longer just restricted to marketing.
b.Social media has an impact on categories with a high visual play like Fashion, Smart phones, Grocery and Make-up.