NEW DELHI, Jun 27 : Homegrown e-commerce platform Flipkart on Thursday said video as a format is rapidly gaining adoption and Indian customers have spent over 2 million hours on its video commerce offerings in the past one year.
India is one of the top consumers of internet data, and with Indian consumers becoming increasingly tech-savvy and digitally inclined, video commerce in the country promises great potential.
According to Flipkart Indians have spent over 2 million hours on its video commerce offerings, from June 2023 to May 2024.
Tier 2 and tier 3 regions comprised 65 per cent of overall video commerce engagement, mostly in categories like fashion, beauty, personal care, home decor and furnishing. The maximum viewership clocked on a single live commerce video was 1.4 million, it added.
“Video as a format is rapidly gaining adoption, especially among women in tier 2 and tier 3 regions, millennials and the Gen Z audience pan India. The top 5 cities leading the way for Flipkart’s Video Commerce engagement are NCR, Bangalore, Mumbai, Hyderabad and Kolkata,” the e-commerce major said.
Three main reasons why customers primarily from below the 30 year age group and tier 2 and tier 3 regions flock to this format are relatability, trust, ease of access and interactivity, Flipkart said, adding that direct-to-consumer (D2C) brands, sellers and farmers also see value in video commerce offerings.
“Flipkart’s approach to video commerce has left an indelible mark in 2024, with events such as The Farmer’s Alphonso Mango Day Live Stream (establishing direct farmer-to-customer connect), Big Bharath D2C livestream, The End Of Season Sale and Zero Hours witnessing strong engagement,” Walmart-backed Flipkart said.
Citing a report by Redseer Consulting, Flipkart said the short-form video industry in India is expected to create a total opportunity of USD 8-12 billion by 2030, and the overall short-video user base will touch 600 million by 2025.
“Flipkart’s video commerce offering is designed to meet an array of evolving needs, with the intention of not only creating an enhanced shopping experience but also addressing possible barriers that exist when it comes to online shopping,” said Neha Agrahari, Senior Director, Video Commerce, Flipkart. (PTI)
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