The strategic study “Decoding India’s Shopping Frenzy”, i.e. “Deciphering the Indians’ shopping craze” highlights the desire for consumption in the vast Indian continent after the wave of Covid and at a time when Europe is experiencing a crisis. The study is carried out by Laure de Carayon, founder of Asia Loopers, an extension of the China Connect event. Asia Loopers deciphers innovation and marketing in Asia for French brands.
An ever-evolving ecosystem of Indian startups
India’s startup ecosystem in 2022 is on a meteoric trajectory with continued evolution in investments, mergers and acquisitions, as well as IPOs. 🇧🇷 It’s time to unlock value from sectors such as Agriculture, Gaming, Blockchain, Web3, Automotive, Industrial and Manufacturing says Laure de Carayon. In 2021, 35% of investments went to Retail, Retail Tech, EdTech, Food Tech and Logistics, according to Debjani Ghosh, President of Nasscom. Nasscom is India’s national non-governmental association of software and services companies with a focus on India’s technology industry.
Indian e-commerce has its specifics. 🇧🇷 E-commerce only accounts for 7.8% of total retail, while in China it’s 46.3%, so we’re just at the beginning of live commerce. says Kishore Thota, Director of Customer Experience and Marketing at Amazon India, quoted by the study “Decoding India’s Shopping Frenzy” carried out by Laure de Carayon who traveled to Delhi, Mumbai and Bengaluru in 2022, to meet the big conglomerates. This includes, in particular, TataCLIQ and Reliance, and digital leaders Nykaa, beauty/fashion leader, Amazon India and many entrepreneurs and venture capitalists.
Advice from Laure de Carayon? 🇧🇷 In a more uncertain context in China, retailers should consider new markets like India and its 1.4 billion people. she points. Indian society is undergoing an identity shift from traditionalism and social assertiveness towards individualism and a ‘flexible’, global and local search for self. Indian consumer confidence remains strong despite uncertainty and the war in Ukraine, and indicates greater willingness for discretionary spending alongside a growing middle class. 🇧🇷 You have to localize your marketing. This is fundamental in a very decentralized and multilingual country: prepare your ‘vernacular strategy’‘” emphasizes Laure de Carayon.
Strong digital growth in cities
Digital penetration with live streaming, e-commerce, video, social media and payments is growing strongly in cities. The Indian market “Direct to Consumer” or “D to C” weighs 100 billion dollars. There are 80 “D to C” brands that belong to the beauty, personal care, cosmetics and male hygiene segments. India’s online personal care market is expected to be worth $4.4 billion by 2025.
At the same time, Indian mobile gaming has become a real phenomenon and eSports continue to make progress. 🇧🇷 Seize the opportunity to engage with the world’s largest youth population advises Laure de Carayon. Finally, India, already with international players, is structuring itself to play a prominent role in the world scenario of Web3.
The study points out the main elements🇧🇷 The digital economy is expected to account for 20% of India’s GDP by 2025, up from 8% today. About half (52%) of its population is under the age of 30. Omnichannel sales will reach $55 billion by 2027, up from $11 billion today. There will be 12.3% e-commerce penetration by 2031, compared to 6.5% today. There will be 700 million online shoppers by 2032, compared to 200 million today.
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