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<ul><li><keyword id="7719939" type="General" weightage="20" keywordseo="anchit-nayar" source="Orion">Anchit Nayar</keyword>, CEO of beauty business of <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> said they have not seen any major impact of competition yet.</li><li>The Indian consumption story is strong with a growing number of middle and high income households, urbanization and more, he adds.</li><li>The company organized a <keyword id="8822949" type="General" weightage="20" keywordseo="nykaaland" source="Orion">Nykaaland</keyword> event in Mumbai which showcases its brands along with entertainment, food and experiences. </li></ul>Beauty e-commerce player Nykaa has been under the scanner due to many competitors entering the fray, importantly, Reliance Retail’s Tira. However, the listed niche omni-channel beauty retailer is not too worried. “We have not seen any impact of it yet. A majority of our business comes from repeat customers. It’s a popular perception that we are the first movers in this area. We are not. Flipkart, Purplle have all been doing this business before us. But we now have a large share of the customer base,” Anchit Nayar, the CEO of beauty and e-commerce of Nykaa told reporters speaking on the sidelines of the company’s Nykaaland event in Mumbai. Nayar also added that he believes in the India consumption story — with a growing number of middle and high income households, urbanization and digitalization of the beauty business. Their average customer spends around $80, whereas the average spend for an India is as low as $15 — he elaborated. The founder of Nykaa, <keyword id="6379793" type="General" weightage="20" keywordseo="falguni-nayar" source="Orion">Falguni Nayar</keyword>, CEO of Nykaa too believes that the trend of growing premiumization – from mass to masstige products, from masstige to premium; will continue. It will also be less affected by inflation. “Once consumers use premium products and see that they address concerns better, it’s a habit that will be tough to shake off,” Falguni Nayar told Business Insider India on the sidelines of the event. Awareness and availability of beauty Anchit Nayar also added that awareness, education and availability are the barriers for the growth of the sector — and the company is solving them. The company is holding its first ever beauty event between November 4-5, in collaboration with BookMyShow.com. Apart from showcasing over 80 iconic international and Indian beauty brands and their extensive product ranges in the exhibition, the event include entertainment with bands playing live music, food and other forms of games. Curated to look like a wonderworld, the event also has stalls for pampering and experiences like foot massages, hairdos, beauty courses and more. “It’s our way to bring the world of beauty to consumers. It provides a lot of learning and is very experiential,” Falguni Nayar said. Apart from Janhvi Kapoor, influencers in the space also attended the event on preview day like <keyword id="4975826" type="General" weightage="20" keywordseo="ashish-chanchalani" source="Orion">Ashish Chanchalani</keyword>, Diipa Buller-Khosla, Aastha Shah, Sunayana Fozdar and more. Owen Roncon, chief of business – live entertainment at BookMyShow, said that the event offers immersive and innovative experiences. “Offering an unparalleled experience to the audience is the primary goal for us with every new IP and with Nykaaland, the stakes are higher as we enter a new realm of beauty and entertainment – a buzzing industry waiting to be tapped in an immersive experiential manner,” he added. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/article/nykaas-fashion-foray-and-pipeline-style-biz-model-worries-analysts/articleshow/95405203.cms">Nykaa’s fashion foray and pipeline-style biz model worries analysts</a>

Not seeing any major impact of competition yet, says Anchit Nayar of Nykaa

<ul><li>India has over 3.5-4 million <keyword id="1112328" type="General" weightage="20" keywordseo="influencers" source="Orion">influencers</keyword> who are divided into buckets like elite, mega, macro and micro, depending on their followers. </li><li>As many as 118 million Indians have tried products or services promoted by influencer ads, says a report by Redseer. </li><li>Redseer estimates that influencer marketing would be worth $2.8-3.5 billion by 2028. </li></ul>India’s most famed YouTuber Ashish Chanchalani endorses The Souled Store by making a short of him refusing to take money from the ‘brand’ — while pocketing it softly. That’s the kind of wild humour his 14 million followers love. And why not? These shorts shot at home, in the building and the vicinity of the influencers – are taking the eyeballs away from ads and other marketing videos. “Influencers are becoming the centrepiece of digital advertisement as user generated content (UGC) generates 2X more engagement than professionally generated content (PGC). These new age celebrities have a direct connection to their followers, and the relationship is a crucial tool for advertisers,” says a recent report by Redseer. Ad experts like Soumya Mohanty, managing director and chief client officer at Kantar claim that digital advertising, which is growing fast, is a different ballgame. To be able to reach the audience better — ads have to be customised to different social media platforms, Mohanty told Business Insider India. Digitally native influencers, however, have had a leg up when it comes to this market, as opposed to ad makers — with content created for TikTok, Instagram and more — with a wider reach. “Paid digital ads have limitations in terms of factors such as flexibility in the budget, targeted reach, authentic content, and contextual ad placement. Celebrity endorsement can be very expensive,” says Redseer. How big is the influencer game? More than half of India’s internet users — that’s 420 million — use social media. Of these, 67% ie. 281 million follow at least one influencer. And, 28% or 118 million have tried products or services promoted by influencer ads. “From the perspective of brands, influencers are agents of discovery driven and brand centric commerce, driving the purchase decision of customers,” the report says. Redseer estimates that influencer marketing would be worth $2.8-3.5 billion by 2028 as more brands leverage them to promote their products. As the internet has helped democratise fame, India has over 3.5 to 4 million influencers who are divided into buckets like elite, mega, macro and micro, depending on the number of followers they have. They are also divided into hobbyists, aspiring creators with skill based niche, aspiring creators with opinion based niche and matured creator – depending on the stage of the career. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Creator archetypes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Number </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of followers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elite </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">300 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Over 10 mn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mega </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-10 mn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.5-0.6 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 lakh to 1 mn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Micro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.5-3 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10,000-100,000 </td></tr></tbody></table>Source: Redseer Where do we find them? While influencers are a great help for small and local brands that need niche placement, the trouble comes with discovering the right influencer, catching them and bringing them on-board. “One of the primary challenges in influencer marketing is the effective matching of influencers with the specific campaign requirements of brands, along with the ability to accurately assess influencer engagement metrics,” says Mukesh Kumar, associate partner at Redseer. There are four models at play to tap them — marketing agencies, platforms, talent management agencies and influencer-brand marketplaces. “With the prospect of better discovery and transparent payouts, hobbyists and aspiring creators are most likely to use the influencer marketplace. Matured creators with high following are comparatively fewer in number, and have lesser propensity to use the marketplace as they’re often represented by talent managers,” the report adds. Yet discovery is not the only challenge that brands face while engaging. With more middlemen in between, even brands and influencers both face troubles. “I have no idea about how much my agency charges because I have fixed payouts based on my number of followers,” an unnamed macro influencer said, in the report. Kumar said that influencers often encounter difficulties in achieving price transparency and securing favourable deals — a pain point that creator marketplaces can solve. Moreover, marketplaces that run on AI and machine learning can help detect fraudulent activities like fake followers — which can add more credibility to growing space. SEE ALSO <a href="https://www.businessinsider.in/india/news/a-million-streams-every-3-minutes-but-only-5-of-ott-audio-users-pay-for-it/articleshow/101313692.cms">A million streams every 3 minutes, but only 5% of OTT audio users pay for it</a> <a href="https://www.businessinsider.in/india/news/a-million-streams-every-3-minutes-but-only-5-of-ott-audio-users-pay-for-it/articleshow/101313692.cms">Almost one in five of India’s future unicorns drops off the race as funding winter bites</a>

Over a 100 mn Indians have tried products pushed by influencers and its growing

<ul><li>Recently, <keyword id="6354630" type="PERSON" weightage="20" keywordseo="mark-zuckerberg">Mark Zuckerberg</keyword>, CEO, Facebook reiterated the importance of India for Facebook in its global scheme of things. </li><li>Over the years, Facebook has been testing and rolling out new features from here. Currently, its testing <keyword id="6662415" type="UNKNOWN" weightage="20" keywordseo="instagram-lite">Instagram Lite</keyword> in India, to make the platform accessible to everyone.</li><li>We spoke to <keyword id="248909" type="PERSON" weightage="20" keywordseo="Manish-Chopra">Manish Chopra</keyword>, Director and Head of Partnerships, <keyword id="736869" type="COMPANY" weightage="20" keywordseo="Facebook-India">Facebook India</keyword>, to understand the organization’s areas of focus for the next year and how its working on making its offerings more accessible to users and more effective for businesses and advertisers.</li></ul>While the world almost came to a standstill in 2020, owing to the pandemic-induced lockdown, it was digital players like Facebook that kept the world moving, even while people stayed indoors. The pandemic led to people spending more and more time on the internet, and understandably, Facebook saw an increase in the time people were spending on their platform. According to data from eMarketer, in H1 2020, people flocked to Facebook so they could share information and keep in touch with friends and family while staying at home. That led to user increases in nearly every world region. Currently, India has the largest user base of Facebook users. With around 272.2 million users in India in 2020, the country’s user base is expected to swell to 329.1 million by 2024. It therefore shouldn’t come as a surprise that the company is serious about its presence and growth here. During Facebook’s Fuel for India event recently, Mark Zuckerberg reiterated India’s importance in the global scheme of things for Facebook. During the chat, he said that the largest communities for Facebook and WhatsApp are in India and <keyword id="819905" type="COMPANY" weightage="20" keywordseo="Instagram">Instagram</keyword> is also getting there. Facebook has been testing and rolling out new features from here. From the launch of Reels on Instagram, to Watch on Facebook and Payments on WhatsApp, India is playing a crucial role in the way products are being designed for the future. Facebook is currently testing Instagram Lite in India. The app, which is less than 2 MB in size, has been created to bring the core Instagram experience to people currently unfamiliar with the app. The platform is also giving a push to its video offerings, opening up opportunities for advertisers and businesses to get closer to their target audience, virtually. We recently caught up with Manish Chopra, Director and Head of Partnerships, Facebook India, to understand the organization’s areas of focus for the next year and how its working on making its offerings more accessible to users and more effective for businesses and advertisers. Excerpts: Q) You're currently testing Instagram Lite in India. What are your plans for taking it to the market? When will you launch it officially? Our research conducted in India to ascertain the attractiveness and comprehension of new products showed that compromised internet experience as a result of low memory phones and heavy-sized apps was a barrier. This set the context for the test of Instagram Lite, and India is a primary test country for it. The Instagram Lite app is created to bring the core Instagram experience to people who do not have an Instagram experience today. The app is made for Android and this new version has improved speed, performance, and responsiveness. The experience is similar to the core Instagram app experience, though there are some features that are not currently supported such as Reels, Shopping and IGTV. The app will be available in Bangla, Gujarati, Hindi, Kannada, Malayalam, Marathi, Punjabi, Tamil and Telugu. However, we don’t have the timing to share on when the app will be rolled out more broadly. Q) The pandemic led to many behavioural changes among consumers. What were some of the biggest changes you noticed during the past few months, especially in India? In the context of 2020, there’s been a fundamental change in digital consumption, which we’ve witnessed by the engagement we’ve seen on the Facebook family of apps. In many countries hit hardest by the virus, total messaging increased by more than 50% on WhatsApp and Messenger, in March. Similarly, in places hit hardest by the virus, voice and video calling doubled on Messenger and WhatsApp. In India, there was a 60% rise in Instagram Live views in March, on a week-on-week basis. Creators focused on keeping their communities informed and inspired. This began with social messages delivered through challenges like the #SafeHandsChallenge and the use of the ‘Stay Home’ sticker. It went on to keep people inspired, like Deepika Padukone and The Live Laugh Love Foundation released a Guide on Instagram that focussed on mental health. On Facebook, new Groups were formed to help people. These include groups like Mahita Nagaraj’s ‘Caremongers India’, a purely volunteer driven group providing frontline assistance ranging from cooked meals to transportation, to the needy, senior citizens, expecting mothers, and the physically challenged during the lockdown. A bunch of national and regional musicians, such as Armaan Malik and Lisa Mishra, performed in Live music concerts called ‘Live In Your Living Room’ to keep people entertained and people also raised funds for COVID-19 relief efforts through our platforms. We facilitated this with the launch of Facebook Fundraisers, which has an in-live donation option too, using which creators like Varun Purthy and Ashish Chanchalani raised funds as part of Facebook Social for Good Live-athon. The year also offered new opportunities, for instance, with short-form content, offered by new features like Reels. This has helped discover a new generation of influencers who’ve grown exponentially on Instagram. Few creators like Ankush Bahuguna and Sakshi Sindwani have also focussed on breaking stereotypes associated with gender and body types. Q) We saw people warm up to live videos during the pandemic, artists, musicians etc used it extensively to stay connected to their fans. What will your strategy be to make sure that people keep using your live features even once they start going out and once things get back to normal? Our community is at the heart of our platforms. We’re hearing them and constantly innovating. For e.g at the start of the lockdown, we saw the rise in Live’s and need from people to save that content to their IGTV and hence we introduced that feature. Earlier this month, we also launched Live Rooms, which gives people the ability to go live with upto three additional people on Instagram Live. With this feature, creators have more opportunities to have conversations with their communities, and to expand their reach and use cases for Live, such as starting a talk show or a podcast, hosting a jam session or co-creating with other artists, leading to more engaging Q&amp;As with those they’re going Live with, or simply hanging out with friends. This feature first was tested in India with creators, and then India was among the two countries it has launched in, ahead of a global rollout. Even with Instagram Lite, the context for the launch is research done in India, where people mentioned a compromised internet experience, as a result of low memory phones and heavy-sized apps. Hence Instagram Lite is less than 2MB in size and is built to deliver an Instagram experience that remains fast and reliable for more people. Beyond product innovation, we continue to work with public figures, creators, groups and organizations to discover opportunities where our platforms can add value to people’s lives. Q) How are advertisers making the most out of your Social Video offerings? Instagram launched a bunch of branded content updates at the end of November. These include: Branded content tag on Reels and Live - To help increase transparency, the Branded Content tag has launched in Reels, and will begin testing in Live in the coming weeks. New creation flow for Branded content ads - Until today, Branded Content ads could only be created by promoting the existing posts from creators. Instagram is now launching a new workflow where advertisers can create Branded Content ads without the need for creators to post organically on Instagram first. Now brands have more flexibility with fewer constraints when they want to run Branded Content ads. This new process has been designed with creator control in mind - creators can approve and pause any ads published from their handle. Branded Content ads in Stories - Branded Content ads in Stories can now include tappable elements, such as @mentions, location and hashtags. We want brands to have access to organic Stories’ creative that is native and authentic to the Stories experience. Branded Content ads with Product Tags - We’re introducing the ability for businesses to promote branded content posts with product tags. Q) How are you strengthening your offerings for advertisers? How are you making sure they are able to make the most of your video offerings to connect with their audiences? As a company, we are deeply committed to supporting the economic recovery of both small and large businesses, and especially understand the support that small businesses need right now to recover from the crisis. As part of our $100 million global grant program to support small businesses across 30 countries, we recently announced a grant of USD 4.3 million for small businesses in India. More businesses are moving online as a result of the digital acceleration fueled by the pandemic, and we’re keen to make this journey seamless for them through skilling, tools, and customized support. We recently released a local offline to online SMB Guide in Hindi and English that is free and publicly available but we also proactively reached out to 9 million small businesses across the country to ensure that it reaches the businesses that need it the most. We’ve also taken several of our industry-leading digital skilling programs online to ensure seamless learning and support in these times; Our flagship program for skilling small businesses, ‘Boost With Facebook’ is now being delivered in Hindi and English through Facebook Lives. We have video ad solutions for all the distinct ways in which people create, connect with, and consume video. Keeping in mind the increasing time being spent on mobile phones, and the reducing attention spans, we encourage advertisers to make Thumbstoppers - short-form mobile video ads that are built for the mobile, and tell the story effectively in a few seconds. We also have In-Stream ads for videos that are longer than three minutes on Facebook. These ads enable advertisers to tell a more complex story to people who are actively engaged in watching content with sound-on. We’re also focused on developing formats that are interactive and embrace the way people want to consume in feed. That’s why we have ad solutions including Poll ads, Augmented Reality (AR) ads, Instagram poll stickers for Stories ads, and Brand Playables. Interactive Ads enable instant two-way communication and get people involved, which is a natural fit for how people, especially the youth, engage on mobile phones. Q) Facebook has now started actively advertising in India, with the IPL as well as the Diwali ad. Why did you start advertising now, and what will your marketing strategy be going ahead? Consumer marketing is a relatively new strategic area of focus for Facebook and one that will significantly increase our global investment in communicating directly to consumers. Over the past year, our consumer marketing team has been focused on two important things - building trust with people who use our products and services and to build value around each of our apps. We launched the ‘More Together’ campaign for Facebook in India, earlier this year in March as a demonstration of our core belief that people can do more together than alone. Over the past few months, we have seen numerous instances where these stories have played out on our platform, where people can connect and come together to find and offer information, help, and support in the face of these unprecedented times. Many of these stories are on display at our first Facebook Fuel for India annual dialogue event. Q) Going ahead, what will your key focus areas be, to further grow your presence in India? One of our key agendas is to focus on providing social video experiences, through both <keyword id="4243508" type="PERSON" weightage="20" keywordseo="facebook-watch">Facebook Watch</keyword> and Instagram. Videos now make a third of all posts for Instagram in India, and India is one of the leading markets for Facebook Watch. Our video strategy for India is truly reflective of the width of consumer tastes in the country. We are investing in forging partnerships to bring culturally relevant, of-the-moment videos across sports, entertainment, news and lifestyle like ICC, FilmFare Awards and IIFA Awards to people. Additionally, we are also launching India-first products on Watch in line with the local consumer tastes and content preferences on the platform in response to the growing consumer affinity for video. India was among the first countries where music videos have been launched along with a music destination on Facebook Watch to enable people to view their favorite music videos and come together through music. We’re also listening and taking inspiration from what our community wants - and they’re telling us they want the opportunity to create and watch short-form, edited videos. Keeping that in mind, we launched Reels. The unique part of Reels is a dedicated tab, which allows people to be discovered by Instagram’s large and diverse community. We continue to innovate with IGTV too. This year, we partnered with a set of creators, such as Kusha Kapila, Arjun Kanungo and Shirley Setia for launching their own IGTV shows with original content. Moving forward, we will continue to invest in creating and facilitating active social viewing experiences on our platforms where the consumers can not only watch, but also have an opportunity to comment, like, share groups messages, use reactions and polls, and even hold Watch Parties; making the experience interactive and personalized.

Facebook is strengthening its social video experience for its next phase of growth in India

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Not seeing any major impact of competition yet, says Anchit Nayar of Nykaa

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Over a 100 mn Indians have tried products pushed by influencers and its growing

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