This festive season, shop live—online
A click on Flipkart’s two-wheeler segment takes you to a continuous live stream: actor Rannvijay Singha and digital creator Rachit Hirani indulge in occasional banter while reviewing features of the listed motorcycles.
The two digital influencers explain the offers, including a chance to win one of the vehicles displayed on the live stream. Over 2,000 viewers post comments and questions on the chat window. A link at the bottom takes you to the online store to purchase the bike.
It’s the digital version of live TV sales where chatty hosts urge viewers to “call now” so they don’t miss the best deals on everything from clothes and air fryers to cutlery. Already a must in China, Indian sellers are turning to live e-commerce during the festival season.
The current live e-commerce market is even less than $300 million, according to Abhishek Tandon, senior consultant at Redseer. The strategy consultant’s June 2021 report estimates it will surpass around $4-5 billion in gross merchandise value by 2025.
This festive season, online lifestyle retailer Myntra is simultaneously broadcasting more than 350 M-lives on the platform’s official Instagram and Youtube pages, according to a spokesperson for the portal.
During its June sales, when the platform first rolled out 24/7 live sessions, it saw over 100 hours of engagement through live and video trading, which is only growing,” said Dushyanth Jayanty, Vice President of Marketing at Flipkart. As the holiday season approaches, it has partnered with over 500 influencers across all categories to help educate customers on how to purchase and use the products.
“If you look at the whole e-commerce adoption curve over the past 10 years, it’s skyrocketed around Diwali,” said Kaizad Hansotia, managing director of Swirl, a live shopping mobile SaaS. . “It’s a no-brainer that now is the best time to leverage video and interactive live commerce.”
Redseer estimates that fashion will contribute 60-70% of live e-commerce GMV by 2025, with beauty and the personal segment contributing the remaining 30-40%.
The number of online shoppers in the country is expected to reach 550 million in about five to six years, up from about 200 million currently, Tandon said. These buyers will be very different, he said, adding that short videos are what drove this format.