Homegrown e-commerce platform Flipkart on Thursday said video as a format is rapidly gaining adoption with users spending over 2 million hours across a range of creative Video Commerce offerings in the past one year (June 2023 to May 2024).
Why are millions choosing to experience e-commerce via Video Commerce offerings?
– Video as a format is rapidly gaining adoption, especially among women in T2+ 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
– Video Commerce offers a trusted experience through real-time engagement and live product demonstrations, which helps in understanding the product better
– It enables an informed purchase decision (in addition to reading about the product). For example, customers are able to understand the look, fit, fabric and other such attributes better
– It provides a single platform for an end-to-end experience, starting from curation to decision-making, followed by purchase
– Overall, shoppable videos are gaining traction owing to convenience and efficient screen time usage
“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.
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.
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