The Indian e-commerce market is witnessing a dynamic shift with the rise of live streaming. This interactive format is revolutionizing the way fashion, apparel, and lifestyle brands connect with consumers.
Live streaming platforms like Myntra's M-Live and Flipkart Live allow brands and influencers to host real-time video sessions. These sessions showcase products, offer styling tips, answer audience questions in real-time, and create a sense of urgency through limited-time deals. Viewers can seamlessly transition from watching to buying within the platform itself.
The allure of live streaming
Live streaming goes beyond product display. It fosters a sense of community and entertainment with consumers. A RedSeer Consulting report says, "Live commerce is expected to reach a gross merchandise value of $4-5 billion by 2025 in India," with fashion and beauty leading the charge. Live streaming helps in:
Engagement and entertainment: Live streams are inherently interactive. Viewers can ask questions, participate in polls, and engage with the host, creating a fun and informative experience.
Building trust: Live interaction allows brands to showcase product authenticity and answer queries in real-time, fostering trust with potential buyers.
Personalized shopping experience: Influencers can tailor their content to specific demographics, offering personalized recommendations and styling tips that resonate with viewers.
The Indian live commerce landscape
While China has been a pioneer in live commerce, India is catching up rapidly as the RedSeer report suggests. The key difference between the markets is China has a well-established live streaming ecosystem with dedicated platforms and tech infrastructure. India is still developing its live streaming infrastructure within existing e-commerce platforms. Studies suggest live streaming can significantly boost sales and conversions. A McKinsey & Company report states live commerce resulted in conversion rates 3-5 times higher than traditional e-commerce.
In India, Myntra launched M-Live in 2021 featuring popular influencers showcasing fashion and beauty products. This interactive format has garnered significant user engagement and positive brand perception. Similarly, Flipkart introduced ‘Flipkart Live’ focusing on a wider range of categories, including fashion. Live streams featuring celebrities and influencers have driven sales and brand awareness. Nykaa regularly hosts live sessions with makeup artists and beauty influencers, resulting in increased engagement and sales for new product launches.
Live streaming is still in its early stages in India, but its potential is undeniable. As internet penetration deepens and consumers seek more interactive shopping experiences, one can expect this innovative format to revolutionize the fashion e-commerce landscape.
