According to Flipkart, Indians spent more than 2 million hours on its video commerce offering from June 2023 to May 2024 | Photo: Shutterstock
Homegrown e-commerce platform Flipkart on Thursday said video as a format is rapidly gaining popularity with Indian customers spending over 2 million hours on its video commerce offering in the past year.
India is one of the largest consumers of internet data, and with Indian consumers becoming more tech-savvy and digitally inclined, the country’s video business promises great potential.
According to Flipkart, Indians spent more than 2 million hours on its video trading offering from June 2023 to May 2024.
Tier 2 and tier 3 regions represented 65 percent of total video commerce engagement, especially in categories such as fashion, beauty, personal care, home decor and furnishings. The maximum number of viewers for a single live commerce video was 1.4 million, it added.
“Video as a format is seeing rapid adoption, especially among women in tier 2 and tier 3 regions, millennials and Gen Z audiences across India. The top 5 cities leading Flipkart’s Video Commerce engagement are NCR, Bangalore, Mumbai, Hyderabad and Kolkata,” the e-commerce major said.
Three key reasons why customers, mainly from the under 30 age group and from tier 2 and tier 3 regions, are flocking to this format are recognisability, trust, ease of access and interactivity, Flipkart said, adding that direct-to consumer (D2C) brands, merchants and farmers are also seeing value in video commerce offerings.
“Flipkart’s approach to video commerce has left an indelible mark in 2024, with events like The Farmer’s Alphonso Mango Day Live Stream (creating a direct connection between farmer and customer), Big Bharath D2C livestream, The End Of Season Sale and Zero Hours witness strong engagement,” said Walmart-backed Flipkart.
Citing a report by Redseer Consulting, Flipkart said India’s short video industry is expected to create a total opportunity of $8 billion to $12 billion by 2030, and the total short video user base will reach 600 million by 2025.
“Flipkart’s video commerce offering is designed to meet a range of evolving needs, with the intention of not only creating an enhanced shopping experience but also addressing potential barriers that exist when it comes to online shopping,” says Neha Agrahari, Senior Director, Video Commerce, Flipkart.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: June 27, 2024 | 11:05 am IST