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Evolution of E-commerce in India: Is your brand ready to embrace New Age Innovation?


In today's fast-paced modern life, the pursuit of comfort and convenience has become paramount. In the last couple of decades changes in technology, lifestyle, education, and our daily habits have forced us to witness this gigantic influx of a hyper-digital age. This influx has made us realise that the time is now to make the jump and relish in this pool of New Age Innovation. So the only way to get forward is by embracing trends and tools that help our brands grow.




The Paradigm Shift in Online Shopping in Numbers and Future Predictions E-commerce is revolutionising the way consumers shop, with 2.14 billion digital buyers, representing 27.6% of the global population. By 2025, the US is projected to have 291.2 million online buyers. This rapid growth has motivated businesses to establish their digital presence, especially in Asia, Australia, and America, where online sales are expected to surge by 36% and 34% in Singapore and Indonesia, respectively. Amidst this sea of e-commerce, survival becomes a critical question. Businesses must navigate cutthroat international competition by differentiating themselves, offering unique value, prioritising customer experience, and implementing effective marketing strategies. Success hinges on embracing new-age innovations, leveraging technology, and optimising supply chains.

The evolution of e-commerce is evident in the projected market volume of $1,365.00 billion by 2025, highlighting its enduring significance. The rise of omnichannel shopping experiences has empowered digital buyers to seamlessly research, browse, and make purchases across multiple platforms and devices. However, this progress has also led to a growing clutter in the e-commerce landscape. Businesses now face the challenges posed by vigorous customer journeys with personalized experiences, AI-enabled shopping, social media-based commerce, and mobile transactions.

To thrive in this competitive omnichannel market, a bridge has been built between customers and e-commerce through social media marketing and influencer collaborations.

Amidst this sea of opportunities, businesses have to find a way to truly stand out from the crowd. Every business is now striving to develop strategies that differentiate, innovate, and deliver exceptional customer experiences. Finding unique value propositions, leveraging data-driven insights, encouraging meaningful connections with customers, and embracing cutting-edge technologies are essential in carving a distinctive position and achieving success in this dynamic and crowded e-commerce landscape.


The latest innovation to break this clutter


In today's evolving digital landscape, influencer marketing has become a cornerstone of successful marketing strategies, with a notable 68% of companies working with influencers on social media. Videos have emerged as an unstoppable force, captivating audiences across different platforms for an average of 4.8 hours daily. This surge in video consumption has spurred a remarkable expansion in the creative realm, as brands explore innovative approaches to incorporating video as a supporting medium. Notable examples include Myntra's foray into the realm of virtual influencers and Cred's thought-provoking "not everyone gets it" campaign. Additionally, direct-to-consumer (D2C) brands in India have embraced the power of artificial intelligence (AI) technologies like chatbots and virtual assistants to provide round-the-clock customer support. By focusing on inclusive content and immersive experiences like gamification, businesses are successfully gaining market share, while leveraging personalization to stand out and discover fresh avenues for revenue generation through high-value services and coveted products that cater to consumer preferences.


Creators have harnessed this behaviour to benefit brands and engage with their followers. Consumers place a great deal of trust in influencers when they endorse or caution against a product. In this landscape, Greenroom Now stands out as an influencer marketing agency that brings together the perfect blend of influencers and brands for collaborative campaigns. As every creator promotes various brands, the question arises: How does Greenroom Now help businesses overcome this intense competition? The answer lies in Greenroom Live.

e-commerce


The power dynamic of Greenroom Live

Greenroom Live connects brands directly with their audiences, drives engagement and conversions in an increasingly immersive way. This power is enabled due to its ability to create shoppable videos and live streams.


Shoppable videos:

  • It engages and inspires viewers while guiding them from inspiration to purchase through embedded links within the videos.

  • It has simplified integration with popular e-commerce platforms like Shopify, WooCommerce, or any desired tech stack, making it effortless to embed videos on your website.

  • It offers a diverse array of video content from product experts, influencers, ambassadors, and creators.

On the other hand, live stream:

  • Facilitates easy setup, enabling live streaming from any Android or iOS smartphone to an unlimited audience, making it ideal for various content genres like recipe videos, DIY tutorials, makeup demonstrations, etc., where multiple products are featured simultaneously.

  • Drives conversions by targeting high-intent buyers, providing real-time options for in-video purchasing, and capturing qualified leads.

  • Provides full control over customer experience, allowing customization with your logo, brand colours, checkout process, and access to consumer data.

  • Welcomes a wide range of hosts including- influencers, founders, industry experts, and brand owners, offering versatility in live streaming experiences.

Consumer benefits:

  • GR Live takes your consumers on a journey wherein they can receive links to your brand website from social media, WhatsApp, email, QR code, and SMS.

  • They can ask questions, see products, add to the cart all the while watching videos from your live stream. Moreover, it gives a good end result as one can easily complete the purchase from such videos.

Brand advantages:

  • GR Live offers advantages to brands like- zero code integration, comprehensive training, hassle-free installation, and zero set-up fees.

  • Fast onboarding, dedicated support, and seamless performance ensure a smooth and efficient integration into your business operations.

  • Data-driven decision-making helps gain valuable insights and make informed decision. This is due to real-time data analytics, including views, add-to-cart rates, click-through rates, interactions, repeat visits, consumer personas, conversion probabilities, and client history.

  • Maximise your marketing efforts by retargeting consumers through personalized options via WhatsApp, SMS, or voice calls, creating tailored experiences that enhance engagement and drive conversions.

Conclusion

In conclusion, only those adaptable businesses that continuously refine their strategies will thrive in this dynamic landscape, making the most of the tremendous opportunities offered by e-commerce. Embracing new-age innovations like GR Live opens doors to profitable e-commerce opportunities. By leveraging the immersive capabilities of live streaming and data-driven insights, brands can engage with consumers on a deeper level, streamline the purchasing process, and optimise their marketing strategies. Embrace the power of new-age technology to unlock your brand's full potential in the ever-evolving digital landscape.

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