Over the past decade, there has been a surge in mobile Internet users in India, leading to a massive change in the way Indians shop, consume content, and spend their time online. The ongoing COVID-19 pandemic has further accelerated this change. In fact, India is on an accelerated path to become a truly digital economy, with new business models, paradigms of content, shopping experiences, and consumer habits emerging. Fueling this transformation is the confluence of content and commerce.
With evolving customer expectations and experiences, consumers are moving from traditional transactional e-Commerce environments to ones that incorporate social engagement, fun, and storytelling. This Zinnov study, titled, ‘What’s Shaping India’s Digital Economy,’ explores the multiple facets of the digital content and commerce ecosystems, and how this is shaping the landscape of India’s digital economy, which has accelerated in the wake of COVID-19.
The study revealed that trends such as live commerce, interactive commerce, emergence of ‘discovery,’ which has replaced ‘search,’ and the rise of influencers in driving user engagement, are increasingly becoming commonplace, with consumers wanting to not just browse social media, but complete their purchase journey on there as well.