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<ul class="summary-list"><li>Fast-moving fashion micro-trends on social media can drive impulsive spending.</li><li>Keeping up can also harm people's mental health and the environment, and mess with their style.</li></ul>In the fast-moving world of TikTok and Instagram, it can feel like there's a new fashion trend every time you swipe.A novel aesthetic or "-core" circulates on social media every few weeks, prompting consumers to buy in.Sometimes, it's a dress; other times, it's a top, a skirt, or a pair of boots. If an item is on the expensive side, there will be dupe options for less.But what fits into the "<a target="_blank" class="" href="https://www.businessinsider.com/gen-z-clothing-office-siren-business-casual-fashion-2024-8">office siren,</a>" "mob wife," or "<a target="_blank" class="" href="https://www.businessinsider.com/roundup-tiktok-style-trends-barbiecore-goblincore-2022-12#still-trending-normcore-is-around-for-the-long-haul-2">normcore</a>" aesthetic one minute is soon outdated, and it's time to buy whatever's next. These things that go out of fashion just as soon as they come in are known as micro-trends."It's not sustainable for your money, it's not sustainable for your mental health, and it's not sustainable for our environment," Ylva Baeckström, a psychotherapist and senior lecturer in finance at King's Business School in London, told Business Insider."It all adds up, and it becomes extremely stressful."<h2 id="4ec37053-21a8-4502-8907-7fa409b94078">'The perfect profitability storm'</h2>Fast fashion, social media, and retailers like Shein have together created "the perfect profitability storm for the businesses and influencers using them," said Anthony Miyazaki, a marketing professor at Florida International University."It's like watching a natural symbiosis where fast fashion producers drop the products, influencers create the buzz, TikTok and Instagram facilitate the sales, and the buyers swarm the marketplace," Miyazaki said.TikTok and Instagram did not respond to requests for comment.<a target="_blank" class="" href="https://www.businessinsider.com/how-to-sell-on-tiktok-shop">TikTok Shop,</a> the app's e-commerce platform, has grown to more than 500,000 US-based sellers in eight months since launching, <a target="_blank" href="https://www.tiktok.com/transparency/en-us/shop-safety-2023-2/">according to the company's Safety Report</a> released in April. It has around 15 million sellers worldwide.On average, <a target="_blank" class="" href="https://www.businessinsider.com/tiktok-is-betting-its-future-on-e-commerce-should-it-2024-7">US users who made TikTok Shop purchases</a> spent about $67 between mid-June and mid-July, compared to around $54 over a four-week period in January, per <a target="_blank" class="" href="https://www.businessinsider.com/tiktok-shop-better-at-keeping-customers-than-temu-shein-2024-4">data</a> from Earnest Analytics, a research firm that tracks credit-card and debit-card transactions.TikTok takes a 2% commission plus 30 cents on every TikTok Shop transaction, and is planning to increase its cut to 8%, <a target="_blank" class="" href="https://www.tubefilter.com/2024/01/05/tiktok-shop-ecommerce-revenue-commission-price-hike/">Tubefilter reported</a>. The company does not disclose how much it has earned from its shopping platform, but individual sellers have been reported to have made <a target="_blank" class="" href="https://cosmeticsbusiness.com/made-by-mitchell-on-making-one-million-on-tik-tok-shop">over $1 million in a single day</a>.Sites like TikTok Shop often promote micro-trends to consumers. That has benefited the likes of the Chinese company Shein, which adds thousands of items to its store each day. It was valued at $66 billion in its latest fundraising round — an <a target="_blank" class="" href="https://www.businessofapps.com/data/shein-statistics/">increase from $5 billion</a> in 2019. (Shein also did not respond to a comment request.)The power of influencers and algorithms on spending is huge. Elysia Berman, a content creator who makes videos about fashion, told BI she is paying off a large amount of credit card debt which she built up due to a shopping addiction fueled by social media.At the start of this year, Berman owed close to $48,000 and has cut that almost in half thanks to her commitment to the "no buy year" — a trend focused on reducing spending.Berman said she believes the cycle of micro-trends is a big problem, saying she spent a lot on clothes she didn't even like or wear."Micro-trends are meaningless without an understanding of your personal style," Berman said. "If you do not know yourself and your style, you are at risk of being caught up in the endless pursuit of trendiness and overspending."<h2 id="5d5c31f2-aa71-4fd0-a913-c6e69c3e5c01">Doom-spend or save?</h2>Along with social media algorithms, micro-trends are being fueled by the cycle of<a target="_blank" class="" href="https://www.businessinsider.com/shoppers-are-doom-spending-to-cope-with-financial-stress-2023-11"> doom spending:</a> buying unnecessary stuff to feel better.<a target="_blank" class="" href="https://newsroom.transunion.com/q2-2024-ciir/">Per an analysis from the credit reporting agency TransUnion</a>, the average debt per borrower in Q2 of 2024 in the US is $6,329 — an increase from $5,947 in Q2 last year.<a target="_blank" class="" href="https://www.federalreserve.gov/econres/notes/feds-notes/a-better-way-of-understanding-the-u-s-consumer-decomposing-retail-spending-by-household-income-20241011.html">Economists at the Federal Reserve</a> earlier this month found that inflation-adjusted spending on retail goods was up across the board compared to 2018.Baeckström, the finance lecturer, said impulse buying is all about feeling control "when everything else is out of control.""You might as well splash out on something that makes you feel better right now because it's hard to think about the long term when things are feeling a bit hopeless," she said.Dan Pallesen, a licensed clinical psychologist and financial advisor, told BI that following trends is part of being human."For our ancestors, keeping up with trends was a matter of life or death," he said. This was because not being part of the in-group put us at risk of rejection and thus in danger to the elements and predators."Fast forward to today, most of us are not in physical danger if we are not part of the in-group, but we still carry the same brain above our shoulders as those ancestors," Pallesen said.<h2 id="5c649480-8542-454e-bf5f-d4055e821462">A growing problem</h2>Most people can afford a few trendy pieces. But repeated, unconscious spending can soon snowball.Bill Ryze, a certified chartered financial consultant and a board advisor at the financial-services platform Fiona, told BI that frequent impulsive purchases can lead to maxed-out credit cards and high-interest debt."Continuous spending can lead to accumulating debt that can become overwhelming," Ryze said, "which could impact mental health and overall well-being."Julie Guntrip, the head of financial wellness at <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/jenius-bank-review">Jenius Bank</a>, said young people are particularly susceptible, especially when they follow influencers who make a living getting others to buy things."While it's easy to get caught up in what others are doing, it's important to remember that not everything is as it seems on social media," she said.Guntrip recommended making a budget and developing a "<a target="_blank" class="" href="https://www.businessinsider.com/deinfluencing-is-the-anti-influencer-trend-rich-with-paradoxes-2023-1">de-influencing</a>" mindset — focusing on not buying things and the dopamine hit of saving money rather than spending it needlessly.<a target="_blank" class="" href="https://www.businessinsider.com/gen-z-micro-spending-on-concert-tickets-to-collectibles-2024-10">Gen Z's interest in micro-spending</a> could signify a shift — spending small amounts on collectibles and items that reflect their personal tastes and don't break the bank."Make it trendy not to buy things," Baeckström said. "Make it trendy to think about the sustainability of your consumption patterns, for you, and for the environment, and, of course, for your money."

Micro-trends are taking over social media, and keeping up can be really expensive

<ul><li>China will remain the most advanced market both in size and maturity, yet the highest growth will be seen in developing markets such as India and Brazil.</li><li>Nearly eight out of ten social media users in India use <keyword id="623994" type="General" weightage="100" keywordseo="social-commerce" source="Orion">social commerce</keyword> to make purchases.</li><li>Despite being a mature market, almost half of consumers in India are making more impulse purchases than planned purchases.</li><li>Shoppers in China, India and Brazil care more about features that help them discover and evaluate potential purchases – both areas where social features enhance the existing experience.</li></ul>A new study by Accenture found that the $492 billion global social commerce industry is expected to grow three times as fast as traditional ecommerce to $1.2 trillion by 2025. Growth is predicted to be driven primarily by Gen Z and Millennial social media users, accounting for 62% of global social commerce spend by 2025. According to Accenture’s report, “Why Shopping’s Set for a Social Revolution,” social commerce means a person’s entire shopping experience — from product discovery to the check-out process — takes place on a social media platform. Just under two thirds (64%) of social media users surveyed said they made a social commerce purchase in the last year, which Accenture estimates to reflect nearly 2 billion social buyers globally. “Driven by mobile-first consumer preferences and the launch of new hyperlocal social commerce platforms, the emerging success of social commerce in India is a testimony to the power of people and communities,” said Anurag Gupta, Managing Director and Lead - Strategy &amp; Consulting, Accenture in India. “To take advantage of this growing opportunity, it will be crucial that these social commerce platforms offer consumers the right experience built around trust and satisfaction, and broaden their appeal through the use of local languages and video interfaces. Furthermore, brands need to work with a thriving ecosystem comprising platforms, creators, influencers, resellers that helps users discover and evaluate potential purchases.” <div type="image" title="image001 (1)" msid="88685169" hostid="261"></div>While the opportunity is significant for large businesses, individuals and smaller brands also stand to benefit. More than half (59%) of social buyers surveyed said they are more likely to support small and medium-sized businesses through social commerce than when shopping through ecommerce websites, Furthermore, 63% said they are more likely to buy from the same seller again, showing the benefits of social commerce in building loyalty and driving repeat purchases. Half of social media users surveyed, however, indicate they are concerned that social commerce purchases will not be protected or refunded properly, making trust the biggest barrier to adoption, as it was for eCommerce at its beginning. Who is Buying What Accenture’s report found that by 2025 the highest number of social commerce purchases globally are expected in clothing (18% of all social commerce by 2025), consumer electronics (13%) and home décor (7%). Fresh food and snack items also represent a large product category (13%) although sales are nearly exclusive to China. Beauty and personal care, although smaller in terms of total social commerce sales, is predicted to quickly gain ground on e-commerce and capture over 40% of digital spend on average for this category in key markets by 2025. Among the study’s other findings: <ul><li>Consumers in developing countries are more likely to use social commerce and do so often. Eight out of ten social media users in China use social commerce to make purchases for a given category, while the majority of social media users in the U.K. and U.S. have yet to make a purchase via social commerce.</li><li>Shoppers in China, India, and Brazil care more about features that help them discover and evaluate potential purchases while those in the U.K. and U.S. place more importance on pricing and discounts. </li><li>Trust is more important to older generations than younger generations. Older shoppers emphasize security features and value brand familiarity while younger generations are attracted to livestreams and put more faith in buyer reviews.</li></ul>

Social commerce industry is expected to grow three times as fast as traditional e-commerce to $1.2 trillion by 2025: Accenture report

<ul class="summary-list"><li>Over 30 million "peak boomers" are entering retirement financially unprepared.</li><li>The economy could take a hit, with industries like manufacturing and education needing to replace boomer workers.</li></ul>The youngest baby boomers are <a target="_blank" href="https://www.businessinsider.com/retirement-crisis-social-security-poverty-older-americans-savings-inequality-2024-3">about to enter retirement</a> — and most of them aren't <a target="_blank" href="https://www.businessinsider.com/retirement-savings-investment-crisis-middle-class-americans-racial-inequality-2024-2">financially prepared</a> for this next stage of their life.Beginning this year, over 30 million boomers born between 1959 to 1964 will start to turn 65, marking the "largest and final cohort" of that generation entering retirement, according to a <a target="_blank" href="https://www.protectedincome.org/peak65-economic-impact-forum/">report</a> from the Alliance for Lifetime Income's Retirement Income Institute.Many in this cohort, known as "peak boomers," are facing significant economic headwinds, the report said. It's what some have called <a target="_blank" href="https://www.businessinsider.com/boomers-not-enough-retirement-savings-gen-z-millennials-eldercare-2024-1">the boomer retirement bomb</a> — and it might be costly for the rest of the workers in the economy.Through an analysis of data from the Federal Reserve and the University of Michigan Health and Retirement Study, the report found that 52.5% of peak boomers have $250,000 or less in assets, meaning that they'll likely deplete their savings and rely primarily on <a target="_blank" href="https://www.businessinsider.com/social-security-benefits-republicans-raise-age-retirement-cuts-2024-3">income from Social Security in retirement.</a> Another 14.6% of that cohort have $500,000 or less in assets, meaning "nearly two-thirds will strain to meet their needs in retirement," the report said."America has never seen so many people reaching retirement age over a short period, and well over half of them will find it challenging to meet their needs through their retirements, let alone maintain their current standard of living," Robert Shapiro, an author of the report and the former Under Secretary of Commerce for Economic Affairs, said in a statement. "They lack the protected income that many older Boomers have from solid pensions or higher savings."The peak boomers' retirement wave could also impact the overall US economy. The report projects that employers will have to replace as many as 14.8 million peak boomers — primarily in the manufacturing, healthcare, and education industries — which could decrease economic productivity.On top of that, the generation's retirement is likely to have an impact on consumer spending. Using data from the Consumer Expenditure Survey, the report found that peak boomers will spend $204 billion less in 2032 than they did in 2022, with the transportation sector taking the biggest hit.Still, as the report noted, younger employees are likely to fill some of the jobs that peak boomers will leave, and productivity will rise as technology advances.<h2 id="1d0080b7-f39a-4bc4-b2f2-ae248d8d0383">The crisis is partially due to changes in how Americans save for retirement</h2>Peak boomers entered the workforce just as retirement plans shifted away from defined benefit plans like pensions — which generally guarantee stable income and are employer-subsidized — to contribution plans like 401(k)s, which rely on workers to pay into them.Of the different types of retirement-savings plans the report looked at, defined benefit pensions have the least disparities along racial, gender, and ethnicity lines (although there are significant disparities in annual payments) — but only 24% of peak boomers hold them, and even those plans are coming up against <a target="_blank" href="https://www.businessinsider.com/bidens-big-stimulus-bill-helps-pay-pensions-2-years-later-2022-12">potential underfunding</a>.Already, many retirement-aged Americans are living on paltry incomes. A little over half of Americans over 65 <a target="_blank" href="https://www.businessinsider.com/retirement-crisis-social-security-poverty-older-americans-savings-inequality-2024-3">live on incomes of $30,000 or less a year</a>, per the Census Bureau's Current Population Survey, with the largest share living on $10,000 to $19,000. And, per <a target="_blank" href="https://www.businessinsider.com/retirement-age-income-education-retiree-ages-income-marital-status-states-2024-3">Business Insider's calculations of CPS ASEC data</a>, 79.2% of retirees receive some type of Social Security income.Retirement-aged Americans, many of whom fall in that peak boomer category, <a target="_blank" href="https://www.businessinsider.com/retirement-crisis-social-security-pensions-student-loan-debt-2024-3">previously told Business Insider</a> that they might just have to continue working until they die or become infirm to stay afloat."Only the very wealthy are going to have any dignity in their old age," Pam, who is nearly 58, said. "And the rest of us are just going to pray that they can die while they still have a job because nobody wants to die on the street."Are you a boomer unprepared for retirement? Contact these reporters at <a target="_blank" href="mailto:asheffey@businessinsider.com">asheffey@businessinsider.com</a> and <a target="_blank" href="mailto:jkaplan@businessinsider.com">jkaplan@businessinsider.com</a>.

Welcome to 'peak boomer' era: A wave of retirees is about to blow through their savings and cling to Social Security to stay afloat

<ul><li>Paving the way for immersive and informative shopping with its <keyword id="623994" type="General" weightage="80" keywordseo="social-commerce" source="Orion">Social Commerce</keyword> proposition, <keyword id="319719" type="General" weightage="20" keywordseo="myntra" source="Orion">Myntra</keyword> believes that the charter is likely to engage ~50% of its monthly active users in the next 3-4 years.</li><li>Myntra aims to churn out close to 1000 hours of live video content per month for deeper consumer engagement, contributing exponentially to the creator economy phenomenon.</li><li>To shape the future of optimised engagement for brands, by blending elements of product discovery, personalization, ease of purchasing, community, and edutainment.</li></ul>Myntra today announced its foray into Social Commerce at scale, to cater to the rapidly evolving content consumption patterns and shopping preferences of consumers. As a part of this launch Myntra also unveiled M-Live, bringing a first-of-its-kind, interactive, and real-time, live shopping experience to the fingertips of millions of shoppers in the country. With the launch of its Social Commerce charter, Myntra is looking to transform the way consumers shop by bridging the gap between inspiration and commerce while bringing both under one single platform. Under this charter, Myntra will target fashion and social media savvy young men and women who are looking to have access to the best-in-class fashion advisory and in-demand trends. Myntra’s Social Commerce proposition: Today, social platforms are considered to drive ~70% of purchase decisions for fashion-forward consumers with fashion and beauty being the most popular categories in the Social Commerce realm as per industry reports. Pivoted on community, connection, and trust, Myntra believes that as the future of shopping, its Social Commerce charter is likely to play an important role in defining the way its customers shop. Myntra’s Social Commerce Business has three distinct propositions that add immense composite value to consumers, creators, and brands alike: <ol><li>M-Live - With M-Live, its pioneering proprietary live video streaming, and live commerce platform, Myntra is further paving the way for the future of shopping that resonates with today’s social media savvy, fashion-conscious generation. M-Live aims to facilitate a real-time engagement between consumers and brands by allowing influencers and experts to host live video sessions of product and styling concepts curated by them, on the Myntra app, enabling viewers to shop instantly. M-Live is also the nearest to an expert-assisted offline shopping experience that is fully experienced online. The core benefit is the users’ ability to get interactive descriptions of products independently curated by experts they can trust and identify with while getting instant advice on various aspects like styling, fitment, product quality, and material. With several concurrent users joining the live sessions, it also gives users the opportunity to shop as a community and benefit from the community’s knowledge, observations, questions, and comments, enabling a more confident shopping decision that is backed by social validation.</li></ol> <div type="image" title="image004" msid="87868167" hostid="261"></div> 2. <keyword id="9063941" type="General" weightage="20" keywordseo="myntra-studio" source="Orion">Myntra Studio</keyword> - As an unparalleled, widely sought-after personalised content destination on an e-commerce platform that provides users with access to 20,000+ original, inspirational, and shoppable fashion, beauty, and lifestyle content assets at scale, Myntra Studio has helped establish Myntra as a frontrunner in innovative content-led commerce. The platform has grown by 25X in the last 6 months itself. Some of the leading brands on Myntra have 2-3 times larger communities on Myntra-Studio and witness a 3-4X higher engagement, in comparison to other similar influencer-led platforms. The in-house built platform has managed to attract and induce shopping among the younger and premium shoppers from across the Metros as well as Tier 2 towns and beyond. With Myntra Studio, Myntra became one of the early e-commerce movers to solidify its positioning in driving a content-led approach, strengthening its fashion proposition and consumer engagement. 3. Myntra Fashion Superstar - As season 3 goes live, this unique, fully shoppable digital reality show continues to churn out some of India’s popular fashion and beauty influencers. With every passing edition, this show has enabled Myntra’s vision of empowering the creator economy. This year’s theme ‘I Wear My Story’ showcases the hunt to find India’s next big fashion influencer and leverages the synergy between iconic fashion trends and social media. Myntra Studio currently engages ~20% of Myntra’s monthly active user base and Myntra expects this to grow to 50% in the next 3-4 years as it scales its Social Commerce charter. A Powerful Enabler for Brands: For brands, Myntra’s social commerce proposition, ensures popular influencers and experts help in establishing more meaningful connections with one of the largest communities of fashion-forward customers. This enables them to offer real-time and on-demand demonstration of features and other aspects while creating visibility for brands in an otherwise crowded environment. This enhances their potential to propel sales by trends and quality as against through pricing alone. Additionally, the brands get the rare opportunity to connect with leading influencers on a commerce platform who drive the conversation for them. It potentially also serves as an engine that increases traffic and stickiness to the platform, resulting in a higher frequency of customer visits, higher demand, and an attractive destination for newer, younger audiences along with better ROI. Unlocking The Creator Economy Phenomenon: The influencer ecosystem in India has begun to significantly scale up with new digital-first content creators emerging across geographies. With its foray into Social Commerce, Myntra is set to create a new ecosystem for consumer-influencer engagement by providing the necessary turf for hundreds of talented influencers to engage with and acquire new followers under one roof while widening their horizon of value creation and also building significant monetisation opportunities for themselves by partaking in the sales outcomes and creating measurable business impact. In addition, with M-Live, Myntra will start by supporting multiple concurrent live streams, and will steadily scale this, with an aim to churn out close to 1000 hours of live content per month in the near future. On Myntra, the influencers would also get the opportunity to partner with leading Indian and global lifestyle brands. It will propel the rise of a different segment of creators who are relatable, engaging, and confident sellers. Pioneering in-house Product-Tech Play: With Myntra Studio’s success as a frontrunner in innovative content-led commerce, M-Live has also been developed in-house with Myntra’s product-technology team working from the ground up. This allows for better customization and planning for the future and to help scale the proposition at will, alongside developing and introducing new innovative features to cater to the ever-evolving needs of the customers. Myntra Studio is slated to be the mothership of all of Myntra’s in-app content-led commerce initiatives. Speaking on the launch of its Social Commerce charter, including M-Live, Achint Setia, VP and Business Head, Social Commerce, Myntra said, “With Myntra Fashion Superstar, Myntra Studio, and now M-Live, an immersive live video shopping experience, we are heralding a new age in fashion and beauty, making big strides in the Social Commerce landscape, with our path-breaking tech-pivoted solutions. At the heart of our Social Commerce initiative, is our desire to offer unparalleled content-led shopping formats to our customers, while harnessing the power of the creator ecosystem and technology. Built for today’s consumers who are gradually progressing from text-based or catalogue-based shopping to influencer-guided interactive experiences, the charter also offers brands an avenue to build salience with a highly engaged fashion-forward customer base, for new launches, collaborations, and showcase hero products along with a host of other benefits. ” Social Commerce, which is a $1.5 billion to $2 billion GMV market in India today, will be worth $16 billion to $20 billion in just five years, with fashion and beauty commanding the lion’s share of this market at over 50-60% as per industry reports.

Myntra forays into social commerce; Launches ‘M-Live’ for real-time video-enabled, interactive shopping experience

<ul><li><keyword id="4486567" type="General" weightage="20" keywordseo="watinsights" source="Orion">WATInsights</keyword> are periodically published reports based on primary research conducted by Recogn, the agency’s research division that provides consumer and business insights to its audience.</li><li>This time, WATInsights looks at <keyword id="1664180" type="General" weightage="20" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword>.</li></ul><keyword id="735366" type="General" weightage="20" keywordseo="watconsult" source="Orion">WATConsult</keyword>, an Isobar Company and hybrid digital agency from the house of dentsu India, has released ‘Digital Commerce in India - <keyword id="623994" type="General" weightage="100" keywordseo="social-commerce" source="Orion">Social Commerce</keyword>’, the 2nd report of WATInsights – Digital commerce series. The report by Recogn, WATConsult’s research division that provides consumer and business insights, explores the consumer sentiments and attitude towards using <keyword id="6354632" type="General" weightage="50" keywordseo="social-media" source="Orion">social media</keyword> platforms for shopping. Currently, there are 157 million social commerce shoppers, which is 53% of the total shoppers in India. This number is expected to grow at a rate of 45% to reach around 228 million by the end of 2022. The combination of social media with digital commerce is seeing huge growth considering the benefit it brings to customers as well as businesses. For businesses, it brings cost-effectiveness and reach through digital marketing, as it connects them directly to their customers. At the same time, the recommendations and comments help customers make a buying decision. This ensures that products are offered at affordable prices with an ability to shop on the platform itself rather than switching to other <keyword id="35621" type="General" weightage="20" keywordseo="e-commerce" source="Orion">e-commerce</keyword> apps or websites. As per the report, most consumers use social media apps like YouTube, WhatsApp, Facebook and Instagram to shop online. Apart from YouTube, the younger customers prefer to shop on Instagram and Facebook, while the older customers prefer to shop on Facebook and WhatsApp. Social commerce users are very likely to make online purchases from ShareChat in the future. A large majority of these customers are thrilled with the concept of browsing through social media platforms and shopping at the same time, however, the shopping behaviour varies between males and females. Most male shoppers scroll through social media without any intention of making a purchase and if they end up making one, it's because the marketing campaign initiated by the brand has played a vital role in influencing the buyer. On the other hand, female shoppers specifically search for their preferable brand on the app to either know more about the product/service or to validate their final choice. Social commerce is becoming popular as more and more Indian customers are moving online and discovering newer ways of shopping. Moreover, it includes a range of immersive shopping experiences, wherein consumers can buy customised products/services without switching apps. Commenting on the latest issue of WATInsights- Digital Commerce in India- Social commerce, <keyword id="2705388" type="General" weightage="20" keywordseo="heeru-dingra" source="Orion">Heeru Dingra</keyword>, CEO, Isobar India group said, “Social Media and E-Commerce are paving strong inroads in the regular Indian Internet users’ daily routine. Since the shopping environment on social media has ripened, there is huge potential to drive sales through these platforms. Hence, the need for an optimised system revolving around building customer trust and creating seamless experiences is critical. With the customer being at the core of these platforms, focusing on rich customer feedback in the form of comments, opinions, reviews, etc. will help brands cater to their audience effectively and improve their brand consideration and loyalty. This issue of WATInsights reports the pulse of today’s shoppers and serves as an invaluable resource for anyone who intends to demystify social commerce in India.” Sahil Shah, Managing Partner, WATConsult added, “Shopping was, is &amp; will always be social. Platforms, behaviour and mediums will keep evolving while more and more people will go online to shop. This report gives a deep view into what the current consumer behaviour is and highlights that social media in paid, owned and earned terms does get the maximum contribution across the funnel; especially where it matters the most, e-commerce.” WATConsult’s research vertical, Recogn, in the past, has published many detailed and comprehensive pieces of research such as ‘Digital Diverse and Multilingual India’, ‘Voice Technology in India: Now &amp; Future’ and ‘Instagram in India’, to name a few.

53% of online shoppers favour Social Commerce owing to its affordability, transparency, and convenience: WATInsights

<a href="https://www.businessinsider.com/linkedin-is-a-dating-app-remote-work-online-romance-2024-1"></a><ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Friday! For those of you in cold-weather cities, it's the time of year when a snowstorm can upend your day. Here are <a href="https://www.insider.com/what-to-put-in-emergency-survival-kit-blizzard-winter-snow-2020-1">10 items to help you get out of a jam during a blizzard</a>.Lucky for me, I'm escaping the cold for a few days. I'm headed to Las Vegas for CES, the big, annual trade show for consumer electronics. If you'll be there, <a href="mailto:ddefrancesco@businessinsider.com" target="_blank" rel="noopener">drop me a line</a> or keep an eye out for where free food is being served.In today's big story, we're looking at <a href="https://www.businessinsider.com/linkedin-is-a-dating-app-remote-work-online-romance-2024-1">how LinkedIn has become an unexpected dating site for some</a>.What's on deck: <ul><li>Markets: Hedge funds' annual report cards are in, <a href="https://www.businessinsider.com/2023-hedge-fund-returns-for-citadel-millennium-point72-multistrats-2024-1">and a familiar face is on top</a>.</li><li>Tech: One of the top EV reviewers <a href="https://www.businessinsider.com/tesla-cybertruck-interior-video-tour-features-best-yet-2024-1">finally got a Tesla Cybertruck</a>.</li><li>Business: Bill Ackman railed against Harvard's former president for plagiarizing. Turns out <a href="https://www.businessinsider.com/bill-ackman-wife-neri-oxman-mit-dissertation-plagiarism-2024-1">his wife did it in her dissertation</a>. </li></ul>But first, you have a new connection (in more ways than one).If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3>The big story</h3><h2>#opentoworklove.</h2><a href="https://www.businessinsider.com/linkedin-is-a-dating-app-remote-work-online-romance-2024-1"></a><div type="image" title="Graphic depicting LinkedIn, a rose, and champagne, among other icons, in a water cooler, which has taken the place of a man-in-a-suit's head" height="1000" width="2000" msid="106579950" hostid="261" sizebytes="37624"></div>Looking for a romantic relationship can sometimes feel like a job, so why not treat it like one? That's a growing trend on LinkedIn, where some people are using the professional network <a href="https://www.businessinsider.com/linkedin-is-a-dating-app-remote-work-online-romance-2024-1">for personal connections</a>, Kelli María Korducki reports. Fielding romantic offers amid job postings and work updates doesn't sound like the stuff of romcoms, but the <a href="https://www.businessinsider.com/linkedin-is-a-dating-app-remote-work-online-romance-2024-1">love-via-LinkedIn approach</a> isn't that far-fetched.In a world of carefully manicured socials, LinkedIn offers a more accurate representation of a person. Many profiles have verified their employment and include references from real people.This latest dating revolution does come with downsides. While finding the one on LinkedIn might be a welcome surprise for some, not everyone is looking for love. Being #opentowork doesn't also mean being #opentohappyhouratApplebees. Blurring the lines on a website focused on career development also creates a dangerous dynamic. It's another way people could leverage their positions of power over those looking to break into an industry.<a href="https://www.businessinsider.com/linkedin-is-a-dating-app-remote-work-online-romance-2024-1"></a><div type="image" title="Graphic depicting different parts of the Internet, from shoe shopping to making money" height="1000" width="2000" msid="106579951" hostid="261" sizebytes="428124"></div>LinkedIn has evolved from the social-media backwaters to a favorite among people <a href="https://www.thecut.com/article/why-teenagers-love-linkedin.html" target="_blank" rel="noopener">barely old enough to work</a>.Sure, LinkedIn has <a href="https://www.businessinsider.com/how-linkedin-got-weird-work-life-blurred-lines-of-oversharing-2023-9">gotten a bit weird with people oversharing</a>, as Business Insider's Rob Price previously reported. But as "cringe" as LinkedIn can be, brands are starting to like it <a href="https://www.businessinsider.com/linkedin-cringe-more-attractive-advertisers-than-elon-musk-x-2024-1">better than other networks</a>, writes BI's Hasan Chowdhury.The platform's evolution got me thinking about the wider social-media ecosystem, which <a href="https://www.businessinsider.com/social-media-splintering-new-less-toxic-era-meta-bluesky-twitter-2023-10">seems to be on its last legs</a> thanks to <a href="https://www.businessinsider.com/social-media-dead-instagram-tiktok-bereal-replaced-group-chats-messaging-2023-8">the rise of group chats and messaging apps</a>.TikTok: The new kid on the block. TikTok has grown from the pandemic's go-to spot for short-form videos to <a href="https://www.businessinsider.com/tiktok-new-google-search-engine-gen-z-taylor-tomlinson-2023-11">Gen Z's Google</a> and <a href="https://www.businessinsider.com/gen-z-gets-news-from-tiktok-influencers-media-industry-2023-12">main news source</a>. But, TikTok's China-based owner <a href="https://www.businessinsider.com/bytedance-planned-track-specific-us-tiktok-user-locations-report-2022-10">could lead to trouble</a> as geopolitical tensions remain high. X: Long considered the pinnacle of social media and the internet's public square, the website <a href="https://www.businessinsider.com/the-year-elon-musk-turned-twitter-into-x-2023-12">has changed a lot under Elon Musk</a>, to put it mildly. X will never go away completely, but it's also apparent <a href="https://www.businessinsider.com/elon-musk-killed-twitter-irrelevant-meta-threads-debt-mark-zuckerberg-2023-7">its best days are behind it</a>. Facebook: The ship sailed on one of the OG social networks long ago. But the platform still holds considerable sway, with a user base encompassing about 40% of the world's population. However, <a href="https://www.businessinsider.com/meta-facebook-apps-used-half-world-population-earnings-mark-zuckerberg-2023-7">growth opportunities in the US</a> seem few and far between.Instagram: Documents alleging Instagram knowingly has millions of underage users and a Wall Street Journal report on how it pushed "risqué footage of children" was <a href="https://www.businessinsider.com/news-today-november-28-instagram-advertising-ai-adtech-2023-11">not the ending to 2023 the company was hoping for</a>. Its prime use case now seems to be watching videos you saw on TikTok three days ago.<h2>3 things in markets</h2><a href="https://www.businessinsider.com/2023-hedge-fund-returns-for-citadel-millennium-point72-multistrats-2024-1"></a><div type="image" title="A composite image of Izzy Englander, Ken Griffin, and Steve Cohen." height="900" width="1200" msid="106579953" hostid="261" sizebytes="65158"></div><ol><li>It was another big year for Ken Griffin's Citadel. The hedge fund's flagship fund, Wellington, was top among its peers, with a 15.3% gain in 2023, according to sources. Meanwhile, rivals Point72 and Millennium posted double-digit returns. <a href="https://www.businessinsider.com/2023-hedge-fund-returns-for-citadel-millennium-point72-multistrats-2024-1">More on how other hedge funds performed</a>.</li><li>David Tepper's no-good-very-bad tenure owning the Carolina Panthers. The hedge fund billionaire isn't exactly a fan favorite of the NFL team he purchased in 2018. A dreadful 2023 season, coupled with a recent $300,000 fine for throwing a drink at an opposing fan, <a href="https://www.businessinsider.com/david-tepper-carolina-panthers-owner-hedge-fund-billionaire-2024-1">is the latest issue for the founder of Appaloosa Management</a>.</li><li>What keeps bullish investors up at night about the market. Ed Yardeni is as optimistic as any investor about this year, <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-4-negative-risks-fed-hawkish-taiwan-yardeni-2024-1">but still has concerns</a>. Among the potential hiccups are the war in the Middle East and the Fed turning hawkish.</li></ol><h2>3 things in tech</h2><a href="https://www.businessinsider.com/inside-googles-plan-end-cookies-chrome-browser-2024-1"></a><div type="image" title="Google office outside" height="750" width="1000" msid="106579954" hostid="261" sizebytes="63796"></div><ol><li> Inside Google's rocky path toward killing off web cookies. The search giant is on a deadline. Google announced that by the end of 2024, it would have a more privacy-conscious version of Chrome. However, <a href="https://www.businessinsider.com/inside-googles-plan-end-cookies-chrome-browser-2024-1">industry experts aren't convinced</a> the company will meet its self-declared deadline.</li><li>Internet-based businesses have a looming problem. They experienced strong growth for the past two decades. But sectors like e-commerce and digital advertising may be entering a new, lower-growth phase now that they could be <a href="https://www.businessinsider.com/internet-biggest-businesses-have-growth-problem-2024-1">approaching saturation</a>.</li><li>The best Tesla Cybertruck review video yet. They're finally rolling off the assembly line, and one of the best EV reviewers in the industry got his hands on one. The <a href="https://www.businessinsider.com/tesla-cybertruck-interior-video-tour-features-best-yet-2024-1">nearly two-hour video tour</a> covers everything: headlights, the steering wheel, cameras, software, and more.</li></ol><h2>3 things in business</h2><a href="https://www.businessinsider.com/bill-ackman-wife-neri-oxman-mit-dissertation-plagiarism-2024-1"></a><div type="image" title="Graphic of Bill Ackman and wife Neri Oxman" height="667" width="1000" msid="106579956" hostid="261" sizebytes="64352"></div><ol><li>Bill Ackman's wife, academic celebrity Neri Oxman, plagiarized in her dissertation. Meanwhile, Ackman — a hedge fund manager and prominent Harvard donor — used plagiarism as a reason to <a href="https://www.businessinsider.com/bill-ackman-wife-neri-oxman-mit-dissertation-plagiarism-2024-1">push Claudine Gay out at Harvard</a>. Oxman <a href="https://www.businessinsider.com/neri-oxman-admits-plagiarism-business-insider-article-apology-2024-1">admitted to failing to properly credit sources</a> in portions of her doctoral dissertation after Business Insider published its findings.</li><li>How travel influencers are building lucrative businesses and side hustles. Many are using their unique travel knowledge to lead group trips and become travel agents. They leverage their followers to <a href="https://www.businessinsider.com/travel-creators-plan-group-trips-instagram-tiktok-travel-agents-community-2024-1">build lucrative side hustles — or even full-time businesses</a>.</li><li>Welcome to the Big Stay: Quitting your job is out. Job-hopping levels are back to where they were before the pandemic upended the labor market. But just because people aren't moving around as much, <a href="https://www.businessinsider.com/quitting-job-big-stay-great-resignation-labor-market-economic-outlook-2024-1">doesn't mean they're actually happy with their job</a>.</li></ol><h2>In other news</h2><ul><li><a href="https://businessinsider.com/child-tax-credit-trump-breaks-might-come-back-wyden-cuts-2024-1">Don't do your taxes yet. Parents and businesses could benefit from last-minute changes in Congress</a>.</li><li><a href="https://www.businessinsider.com/disney-ceo-bob-iger-power-move-trian-peltz-proxy-fight-2024-1">Bob Iger's power move put a wrench in activist investor Nelson Peltz's proxy plans, but the Disney CEO isn't out of the woods</a>.</li><li><a href="https://www.businessinsider.com/gypsy-rose-blanchard-says-she-regrets-conspiring-to-kill-mother-2024-1">Gypsy Rose Blanchard says it was "panic, desperation" that drove her to conspire to kill her mother: "I regret it every single day</a>."</li><li><a href="https://www.businessinsider.com/housing-market-outlook-forecast-home-price-mortgage-rates-fed-loan-2024-1">From interest rates to home demand, here's how the housing market will unfold in 2024, according to LendingTree</a>.</li><li><a href="https://markets.businessinsider.com/news/currencies/bitcoin-etf-goldman-sachs-crypto-cryptocurrency-regulators-sec-2024-1">Goldman Sachs reportedly wants in on the bitcoin ETF hype</a>.</li><li><a href="https://www.businessinsider.com/federal-reserve-meeting-minutes-recession-economy-inflation-interest-rates-powell-2024-1">The Federal Reserve is done talking about recession</a>.</li><li><a href="https://www.businessinsider.com/samsung-to-release-new-smartphones-powered-by-ai-2024-1">Samsung teases the release of its new Galaxy smartphones "powered by AI</a>."</li><li><a href="https://markets.businessinsider.com/news/stocks/stock-market-2024-outlook-trading-playbook-for-crucial-election-year-2024-1">"A lackluster January through May": One chart shows what stock investors can expect in a crucial election year</a>.</li></ul><h2>What's happening today</h2><ul><li>The 46th annual Dakar Rally is today in Saudi Arabia. The car, motorcycle, and truck race spans 5,500 miles, starting in Al-'Ula and finishing in Yanbu.</li><li>Happy birthday, Diane Keaton. Bradley Cooper, Walter Mondale, Walker Scobell, Deadmau5, and Marilyn Manson were also born on this day.</li><li>Earnings today: Constellation Brands, <a href="https://markets.businessinsider.com/earnings-calendar">and other companies</a>.</li></ul><h3>For your bookmarks</h3><h2>Bedroom colors</h2><a href="https://www.businessinsider.com/best-colors-bedroom-this-year-2024-from-color-expert"></a><div type="image" title="Bed with pink and green sheets" height="975" width="1300" msid="106579959" hostid="261" sizebytes="139230"></div>A color expert shared the eight shades you should use in your bedroom this year. The <a href="https://www.businessinsider.com/best-colors-bedroom-this-year-2024-from-color-expert">eight colors</a> will likely become more popular this year, including classic blue and soft green.The Insider Today team: <a href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a href="https://www.businessinsider.com/author/diamond-naga-siu">Diamond Naga Siu</a>, senior reporter, in San Diego. <a href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a href="https://newsletter.businessinsider.com/click/33739711.1210015/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9hdXRob3IvaGF5bGV5LWh1ZHNvbj91dG1fbWVkaXVtPW5ld3NsZXR0ZXImdXRtX3NvdXJjZT1TYWlsdGhydSZ1dG1fY2FtcGFpZ249SW5zaWRlcl9Ub2RheQ/6388bd81e7b7ccd0ba0929daB5b9051cd" target="_blank" rel="noopener">Hayley Hudson</a>, director, in Edinburgh. <a href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.

LinkedIn becoming an unexpected dating site shows social media's shifting landscape

<ul><li>Captain Indraani Singh from Haryana: Breaking barriers in aviation and <keyword id="65467" type="General" weightage="20" keywordseo="empowering" source="Orion">empowering</keyword> communities through Indha Crafts. </li><li>Nishat Begum, an inspiring entrepreneur from Madhya Pradesh: Leading the charge in preserving traditional handicrafts</li><li>Komal Prasad Paul, a resilient entrepreneur from West Bengal who turned a personal tragedy into triumph </li><li>Chitrangan Pal from Odisha, the heartland of Sambalpuri sarees and how he revolutionized the traditional handloom business bringing ancient craftsmanship into mainstream fashion.</li></ul> In the realm of business, where the focus typically revolves around financial gains and market dynamics, there is a distinctive group of individuals who have harnessed the transformative potential of entrepreneurship rooted in <keyword id="6355103" type="General" weightage="20" keywordseo="social" source="Orion">social</keyword> responsibility. They are the ‘<keyword id="484405" type="General" weightage="20" keywordseo="Social-entrepreneurs" source="Orion">Social Entrepreneurs</keyword>’, who have not only achieved excellence in their entrepreneurial pursuits but have also dedicated themselves to uplifting and supporting the communities they hail from. Their inspiring journey reflects a deep alignment with the values upheld by <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> – leveraging the power of e-commerce to bring about positive change, skillfully combining financial success with a positive societal influence. As we delve into the motivating journeys of these ‘social entrepreneurs’, we uncover stories of sellers who have excelled in business while leaving a significant mark on their communities. These stories represent not just financial success but a legacy of transformation. Empowering Artisans, Uplifting Communities Name: Nishat Begum NGO: Anuna Location: Madhya Pradesh India has a rich history in traditional handicrafts, handlooms, and handmade products. Over the decades, generations of artisans have passed down and honed their skills in specialized crafts of their choice. There are lakhs of such artisan clusters across India. Many of these artisans are marginalized women and men, and are often the sole bread earners for their families. Due to limited familiarity with modern digital market dynamics, these artisans often find themselves vulnerable to intermediaries, which, in turn, poses challenges to their livelihood. Consequently, this trend contributes to a waning interest in traditional crafts and a significant loss of income for the artisans involved. The problem can be addressed with professional training and handholding in digital entrepreneurship, and the medium of e-commerce, something that the Samarth program by Flipkart and its NGO partners are working towards. Flipkart Samarth is a program dedicated to helping underprivileged sections of society and supporting organizations that are committed to societal good. The program has been creating meaningful opportunities that empower millions of artisans, weavers, and micro-entrepreneurs to help them achieve financial independence. Since its launch in 2019, Flipkart Samarth has enabled pan-India market access for lakhs of ambitious entrepreneurs. Today, the program supports and benefits over 1.5 million livelihoods nationwide. Nishat Begum, who heads an organization of artisans in Bhopal, is among those who has experienced the benefits of going online and knows that it can make a world of difference to the lives of artisans, especially women. Nishat's organization has been working since 1990 to skill and support women in areas affected by the Bhopal gas tragedy of 1984. As the driving force behind Anuna, an NGO associated with Flipkart Samarth, she empowers marginalized women through online entrepreneurship. Anuna is a social impact driven business that is open to all independent sellers with unique handmade or natural products. A part of the proceeds from Anuna's sales supports the training of artisans from economically backward classes. Under the Flipkart Samarth-Anuna partnership, about 120 women in Nishat's organization, skilled in crafts such as zari, zardozi, and macramé, have undergone training in the fundamentals of running an e-commerce business. Nishat appreciates the multifold benefits of the Flipkart e-commerce platform for her community of artisans - most importantly, the continued preservation of their art, and the access to a pan-India market. "It will boost sales and improve the standard of life for women and their families," she says. "With the steady income they can now earn, many women, like me, will become financially independent and fulfill their dreams." Nishat appreciates the multifold benefits of the Flipkart platform for her community of artisans - most importantly, the continued preservation of their art, and the access to a pan-India market. Empowering Women, one flight at a time Name: Capt. Indraani Singh Business: Indha Crafts Location: Haryana A renowned name in aviation, Capt. Indraani Singh is the first woman in Asia to fly the Airbus 320 and the world’s first woman commander on the wide-bodied Airbus 300. When she is not piloting flights, Capt. Indraani Singh is educating and empowering women and children in India’s underserved communities. Capt. Indraani Singh founded Indha Crafts, a social enterprise that imparts vocational training in crafts for underserved women and markets the products they create. She is also the founder of Literacy India, which educates underprivileged children, youth and women, empowering them to become self-reliant. Recently Indha Crafts joined hands with Flipkart Samarth to help women artisans sell their products online and expand their customer base to over 200 million. The partnership has positively impacted lives in these communities, says Capt. Indraani. Her drive has led to men also understanding the economic benefits of women channeling their talents. Capt. Indraani understood the need for a platform to monetize this talent and create sustainable incomes. “With Flipkart, we feel cared for. Other than helping us sell, they help us with promotions. They tell us how to list trending products and introduce variety in our listings. This helps us in marketing and in turn, helps the artisans. Flipkart also has been instrumental in our B2B sales. Many sellers have contacted us to grow their business,” says Capt. Indraani. Ever since Indha Crafts partnered with Flipkart Samarth, the organization has seen tremendous increase in sales. Moreover, the brand has witnessed a positive impact on the lives that they are trying to uplift. Capt. Indraani Singh with Indha Crafts and Literacy India is changing the narrative for the women she’s working with. When she began journey, she faced questions about the efficacy of the initiative: How would artisans earn money with these skills? How would it be beneficial? How is this additional income going to change their lives? Today, these women have written a new chapter in their lives, from contributing to their household income to helping their community’s healthcare, education, and independence. They are flying in more ways than one. Defying odds, embracing entrepreneurship Name: Komal Prasad Paul Business: Ultimate Hygiene Location: West Bengal In December 2017, 33-year-old medical representative Komal Prasad Paul was grievously injured after a collision with a truck in Barasat, a suburb of Kolkata. He was rushed to the ICU only after several hours but by then the damage was done: his right arm had to be amputated. This deep personal tragedy came as a turning point in Komal Prasad’s life: How would he provide for his family given his physical impairment? While painting and sketching uplifted his mind after a phase of depression during his month-long hospitalization, the burden of earning for his family weighed heavily on him. So, undeterred by his handicap, Komal Prasad went back to work upon discharge. But the feisty microbiology graduate who had been great at his job realised he could not keep up with the demands of the job. He thus started exploring ways to earn for his parents and his sister, who were extremely disheartened at the unfortunate turn of events. Komal turned to entrepreneurship. He tapped into his contacts and started selling products for new mothers and babies, such as nebulizers and breast pumps. Business started slow but an undeterred Komal had his mind set on success. After reference and research, Komal registered on the Flipkart Seller Hub in May 2019 and within a few days, a member from Flipkart’s team on-boarded him and took care of all his documentation. Thus began his new life. Komal sells personal care products on Flipkart under the Flipkart Samarth program which offers e-commerce opportunities to underserved entrepreneurs and artisans in India. On his debut as a seller on Flipkart, he made a single sale on his first day. Today, he sells over 50 products a day. His enduring effort and never-give-up attitude have helped Komal register over 100% growth in sales, which has allowed him to hire one employee to help him with packaging. The source of Komal’s motivation lies with his parents and God. And, he is certain that with Flipkart, he is on the right path, one that will lead to success. Weaving stories, creating opportunities Name: Chitrangan Pal Business: Odisha Handloom Location: Odisha There are sarees and there are sarees that tell stories transcending form and fashion. One such saree is Odisha’s Sambalpuri, which bears the imprints of the state’s famous tie-and-dye technique, wherein each saree goes through a journey of threads dyed, fabric woven, and made intricate with traditional motifs. Look closely, and a Sambalpuri saree is a handmade harmony of geometric patterns and landscapes from Odisha’s religious architecture, which could take as many as three months to create. Like a precious heirloom, local weaver families cherish the painstaking technique that goes into making a Sambalpuri saree. “We are the only ones here in India making Ikat (a fabric dyeing technique). This has been our work and tradition for over 100 years,” says Chitrangan Pal. 22-year-old Chitrangan is the founder of Odisha Handloom, a company representing over a thousand families, whose members draw livelihood from the warp and weft. But selling the Sambalpuri sarees, along with dress materials, stoles, dupattas, tables, and kitchen linen, was stuck in the old ways. In 2019, Chitrangan became a Flipkart seller. “Flipkart helped us in listing over 200 of our sarees and helped us with visibility for our products nationwide.” It also opened up his perspective on selling, adding specialties like market trends and location-based selling. Soon, he tapped the strong vein of demand in India’s southern cities. Going online allowed Sambalpuri sarees to grow out of the shadow of heritage and local demand, and into fashion that was more mainstream. “Before joining Flipkart, we were selling our products in our village or state, but now our products are available to customers across the country,” says Chitrangan. Working with Flipkart has also grown the weavers’ creativity. “Before Flipkart, we were traditional saree sellers for about 40 years. We worked with the same designs. Our profit margin was not great, and the designs remained old-fashioned,” he remembers. As Chitrangan says, “Orders are rising, and our community is very happy with their work. Selling on Flipkart means more work and more opportunities for my people to earn their living with dignity.” Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Empowering communities: The impact of Flipkart Samarth's social entrepreneurs

<ul><li>If an industry can flourish during a global pandemic and one of the worst economic crises we had to face, it can survive through any challenges that come in its way.</li><li>Digital media has proven time and again how integral it is to the advertising industry’s survival and growth.</li><li>However, every year brings with it a set of challenges different from the previous one. So, in our second year-ender, we look at digital marketing, its growth trajectory and look at what lies ahead.</li><li>Experts are optimistic that 2022 will be a game-changer that will help them redefine a lot of rules in advertising, with smarter marketing techniques.</li></ul>The digital marketing industry in India not only managed to weather the pandemic’s impact but also flourished gracefully in 2020. It accelerated at an unbelievable speed, exceeding all predictions and expectations. Brands were quick to adapt, pivoting aggressively from traditional mediums to invest in digital. Digital media became one of the most effective mediums to reach out to people locked inside their houses and stuck to their phone and tablet screens. This trend of increased smartphone consumption is only expected to amplify as more people, especially in Tier II and III cities, engage more digitally and make purchase decisions through websites, apps, social media platforms. Apps have undoubtedly become the most popular destination for consumers and marketers are capitalizing on this trend to engage with them. As per GroupM’s TYNY report, global digital advertising should account for 64.4% of total advertising in 2021, up from 60.5% in 2020 and 52.1% in 2019. Zenith also estimates that global adspend will reach $705 billion in 2021, up from $634 billion in 2019, and will rise to $873 billion by 2024. Digital marketing in India is also at the cusp of a massive revolution as brands explore options beyond <keyword id="640850" type="General" weightage="20" keywordseo="social-media-marketing" source="Orion">social media marketing</keyword> within the digital ecosystem and look to expand their presence across regional markets. RedSeer predicts that India’s digital ad expenditure will grow 10 times over the next decade and will likely account for 70-85% of the total ad market, which currently stands at 33%. It is expected to touch $25-35 billion by 2030 from $3 billion in 2020. So, without a doubt, digital marketing is the future of advertising and the only way brands can grow is by harnessing various digital tools. From buying medicine to groceries or shopping for a wedding, many consumers who would otherwise prefer to browse and purchase in person, have moved to online shopping due to the limitations that the pandemic threw at them. This quick change in consumer behaviour, accelerated by the pandemic, gave a push to e-commerce, performance marketing, augmented reality, mobile marketing, digital animation, video content, voice search, audio advertising and influencer marketing. In this last year, Instagram has also moved beyond just a discovery platform and influencer-led commerce has arrived earlier than expected. According to WARC, Instagram grew to become the largest social media platform globally in 2021 after overtaking the core Facebook platform for the first time. Instagram is forecast to grow to control over a third of the global social media market in 2023. Apart from social commerce, Instagram’s parent company’s Metaverse was the hot topic and trailblazer of 2021. In 2022, more brands will prepare for the next phase of the internet, include Metaverse in their marketing strategy and experiment with AR and VR. As we enter a new year and it brings a new set of challenges, different from the previous one, we speak to digital marketing experts, discuss the industry’s growth trajectory and look at what lies ahead. Here’s what experts had to say about digital marketing’s future in India: Neena Dasgupta, CEO and Director, Zirca Digital Solutions: The dominant trend that seems imminent and set to grow is the cross media measurement. The customer connect is critical given the significant shift in consumption patterns. Understanding the impact of the mediums and planning connect basis that is an inevitability. This would require customer segmentation by cohorts, enablement of linking these cohorts between brand and publisher (any medium) and tracking response and measuring attribution using data integration at a CRM level. The entire system is data and tech driven supported by psychometric tools for the purpose of cohort creation and mapping. All in real time. Single source panel is the need of the hour. And there are multiple measurement organisations working together on this. More importantly it’s critical that a brand understands trading needs to be made more efficient by enabling customer segmentation in real time that can be activated using programmatic means, also in real time. The data pool and nodes will take some time to build as in any data led ML, and eventually it’s data science and creativity at work to engage prospects. Harshil Karia, Co-founder and Managing Director, Schbang: I think two big trends will dominate marketing: 1) More and more brands using a combination of technology to enrich what they do at last mile conversion, data management, and using the marketing data as signals to business and sales teams more effectively. Expect more martech being deployed. And expect more people to learn martech and it's capabilities and the ability to learn and unlearn the same. 2) The use of automation will start to affect creativity. One ad can be delivered in a 100 ways using video Ai and voice. One copy can be written in many ways customised to context. The writers to can work well with an Ai and make it their friend will do well. An Ai works as well as the instructional data it recieves. The factor that will help drive this is increased demands from CEOs to integrate the marketing function into large scale business processes and have the vision to see the value it can unlock - a push but also some patience. The automation allows marketing to now affect at scale far more parts of the organisation than they already have. Marketers and creators will do well to be curious and have a learn it all attitude while knowing and deepening their craft on copy and design." Prashant Puri, Co-Founder &amp; CEO, AdLift: We’re entering the organic first age where prioritizing organic search becomes paramount. We see content playing a vital role here, be it optimizing for voice search or improving user experience via engaging content across all brand touchpoint. We estimate influencer marketing spends to catapult to $150 to $225 in 2022 with brands doubling down on influencer led marketing campaigns across nano, micro and macro influencers - capturing 7 to 9% of overall digital marketing spends in India. Chandni Shah, Founder and COO, Kinnect: The one trend I see dominating 2022 is Social Commerce. The e-commerce industry experienced accelerated growth with the pandemic, and social commerce emerged as the 'flavour of the year'. Social media platforms too joined the bandwagon and introduced features and tools to enhance the consumer journey - from product discovery to purchasing them on/through the platform itself. Covid-19 pandemic in 2020 contributed significantly to the new era of online social retail. In 2020, Facebook introduced Instagram shops, integrating e-commerce and the world's most popular social media platform. In the Covid-19 pandemic, the worldwide social commerce market is anticipated to increase at a whopping <a href="https://www.researchandmarkets.com/reports/5140143/social-commerce-global-market-trajectory-and?utm_source=GNOM&amp;utm_medium=PressRelease&amp;utm_code=rm7g2f&amp;utm_campaign=1434938+-+Global+Social+Commerce+Market+Worth+%24604.5+Billion+by+2027+-+COVID-19+Updated&amp;utm_exec=joca220prd" target="_blank">31.4</a>%. By 2021, social commerce will continue to expand as consumers stick to digital habits, whilst e-commerce and conventional retailers adjust to the post-Covid-19 reality. Combining e-commerce with social media can be highly valuable; it allows consumers to look for brands via social media platforms and search for products they wouldn't usually look for on an e-commerce website. Brand hunt, influencers, and mobile payments are examples of social commerce in action. Thanks to AI, marketers can now gather real-time data on consumers and transform it into actionable insights. The upcoming year will see more users turn into buyers and make purchases through social commerce. Brands that haven't explored the opportunity yet will be quick to jump onto this trend. To sum this up, the shorter the buyers' journey will be, the lesser chance of them abandoning products in their cart. Hareesh Tibrewala Joint CEO of Mirum India: Covid has taught us that every business, big or small, B2B or B2C, irrespective of the category -- needs to have a way of reaching out to the consumers online, be able to showcase ones products and services, collect payment and make delivery. We will see e-commerce driving investments in the area of technology, content creation and media. We will see continued expansion of market places as well as emergence of D2C brands. Within ecommerce we will see movement towards voice-based ordering as well as conversational commerce Harsh Shah, EVP, Business- North and West, Dentsu Webchutney: 2022 is going to be the year of alternate digital realities. Yes, the metaverse! That moment in time where our digital life seamlessly co-exists with our physical life. That year, where our virtual possessions are of as much worth as our real-life possessions. Bank accounts and crypto wallets. Art works and NFTs. One of the key outlooks for brands should be to see how they can use 2022 to prep themselves to be not only present in the metaverse but also for immersive storytelling. With growing interest in the concept and it being part of popular culture, will accelerate adoption. It will outgrow the internet in adoption. Also, with 5G hitting the market, it can act as a great platform to drive that initial burst of growth. Shradha Agarwal, COO and Strategy Head- Grapes: In my opinion, AI will play a crucial role in the digital marketing ecosphere. We have witnessed that from data collection to geo-fencing, AI has been helping businesses grow extensively. The technology comes with such a great combination that it has been used widely in certain aspects such as content creation, chatbots and search engines. Sectors like retail, e-commerce, banking, healthcare, gaming and others are already backed upon on artificial intelligence as it helps them recognize consumer behaviour, search patterns and it also helps businesses understand how customers find their products and services. In the coming time, we would see many others sectors trying their hands on the tool marketers want good sales and better ROI through their marketing strategy. Therefore, AI applications can predict what customers are likely to buy in the future based on their past purchases and browsing history. With this approach, it becomes easier for them to target their users. Also, AI use is becoming of utmost importance for those companies whose business depends on smartphones and drive sales through social media. Hence, AI as a market will grow exponentially. Raman Mittal, CMO and Co-Founder, TO THE NEW: I believe the dominant trend of 2022 will be Contextual Targeting. Contextual targeting isn’t something new, but for a while it was in the shadows because it’s performance was lower than Behavioral Targeting that used cookies. But in this cookie-less world, the modes of serving personalized ads to the audience have shrunk and marketers are moving back to contextual targeting. Whether it is category, keyword, or semantic contextual targeting, it will be exciting to see future developments in this arena. Mohit Gyanchandani, Head, media planning and growth, DCMN India: For several years, the marketing industry has witnessed an ongoing contest between performance and brand marketing in terms of budget, resources and impact. But in 2022, we predict that the old dichotomy between the two will become increasingly blurred. This is in part due to the impact of COVID on businesses. After a volatile 18 months, many organisations are re-evaluating their goals and moulding themselves to survive and thrive in this new economy. Above all, companies know that to succeed, they need to build brand salience. We’re already seeing that for many of our clients, it’s not simply about brand versus performance anymore: the two need to work in tandem. That means bringing both sides of marketing even closer together and building fully integrated, 360 degree campaigns that power growth and build brand recognition across online and offline channels. Marketers will also start looking at results more holistically. Instead of just looking at one specific channel and its impact on direct KPIs, they will look at results through a broader lens: for example, the impact that a TV campaign might have on digital channels like search or retargeting. This doesn’t mean that pure performance-driven campaigns are going away completely. The best approach for a brand will always depend on the company’s stage of growth and their overall marketing goals. But for companies looking to scale, taking a fully integrated approach will be key to achieving cut-through in an increasingly competitive industry." Ankur Gattani, VP - Growth and Marketing, WebEngage around MarTech: Majority of Indian organizations have been using a mix bag of first-party (1P) and third-party (3P) data for marketing and advertising. However, the usage and impact of 1P data are expected to amplify in 2022 in a big way. This trend will dominantly be driven by the legal framework that will prohibit the usage of 3P data and force the adoption for 1P. Organisations like Amazon and Netflix have spoilt the customers with their personalisation mechanisms. What this means is that customers expect personalisation from the websites and apps that they visit. Marketeers will have to make optimal use of data and analytics to bring that level of experience for their customers. Reports suggest that over 80% of marketeers see benefits in leveraging consumer data for marketing. At WebEngage, we work 100% on 1P customer data and we believe this trend will not only help our clients engage with consumers in a meaningful manner but also improve their business ROI. Shivani Kamdar - Associate Creative Director, SoCheers: 2020 &amp; 2021 showed us how content is still the centrepiece of every marketing communication and how brands went the extra mile to establish a better connection with their audience. The coming year is going to be no different, in fact "Localisation of Content" is the need of the hour. A marketing technique for product promotion leveraging the local culture of the target areas by studying their preference, likes, dislikes. The customer begins to relate with the content at a subconscious level which in turn not only helps aid their purchase decision but in the long run, also helps forge a better recall for the brand. One of the key factors that will help drive this trend home is ground research - an intense focus on understanding the consumer intent by renewing SEO efforts. The other is the medium of communication. Building the right story is not enough; finding the most compelling way to sell it will do just the right thing. Will that copy be more relatable as a video or will adding audio to this help enhance the user experience? Consumers are craving interactive, consumable, entertaining content be it on mobile or across social channels; question is, will you give it to them? Dia Kirpalani, VP, Head of Strategy, Blink Digital: As we move into 2022 and beyond, we believe that both marketers and consumers will increasingly seek a clearly demonstrable line to value. To achieve this, marketers will need to harness the ability of end-to-end measurement, with an eye on their north star metric. India is moving online more than ever. With everything from shoppable content on social media, to conversational commerce bringing India's smaller towns further into the fold, this measurement is progressively important to assess where and how to communicate. Meanwhile, consumers will seek value and authenticity from their brands. Brands that win consumers' hearts will meet consumers where they are with content that has real relevance, whether they access it through voice, video or vernacular. Brands will need to also provide consumers an exceedingly easy content consumption or shopping experience through hiccup-free, friendly interfaces. Importantly, content will also need to authentically reflect evolving consumer values, and this will help determine what brands should communicate. For brands looking to scale up further, this combination of multiple elements is what will ultimately drive value. Rahul Nanwani, Co-founder &amp; CEO of ImageKit: It is predicted that globally, 82% of consumer web traffic in 2022 would be from videos. With India’s video market set to touch $18 billion by 2026, it will soon play a dominant role in digital marketing as well. Short-form videos have already attracted the attention of many Indians and the market is predicted to reach 650 million users by 2025. Thus, if brands need to reach a wider audience in the coming year, they need to utilize tools that will maximize their outreach through videos. Video optimization and media management tools help improve internal collaboration for teams creating the videos and then ensure that those high-quality videos can load quickly on a user's device. With several advancements being made in this field, brands will be able to provide better customer experiences and ensure their messaging reaches them through videos.

Metaverse, social commerce and personalisation in a cookie-less world: Here’s how digital marketers are preparing for the future

<ul class="summary-list"><li>The social commerce market is growing at a rapid rate.</li><li>According to Accenture, social commerce will grow faster than e-commerce in the next few years.</li></ul><keyword id="11895013" type="UNKNOWN" weightage="60" keywordseo="social-media" source="Orion">Social media</keyword> <keyword id="11896038" type="UNKNOWN" weightage="60" keywordseo="shopping" source="Orion">shopping</keyword> is set to explode in popularity the next few years, and it could open up new avenues for smaller businesses. According to a <a href="https://www.accenture.com/us-en/insights/software-platforms/why-shopping-set-social-revolution?c=acn_glb_socialcommercebusinesswire_12755585&amp;n=mrl_0122">new report from consulting group Accenture</a>, social commerce is estimated to grow three times faster than traditional e-commerce in the next four years.Social commerce is estimated to become a $1.2 trillion global market by 2025, accounting for 16.7% of total e-commerce spend, according to Accenture.Social media shopping includes anything from in-app purchases made on platforms such as <keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword> or <keyword id="11892996" type="UNKNOWN" weightage="60" keywordseo="instagram" source="Orion">Instagram</keyword> on a brand or influencer's page or via <a href="https://www.businessinsider.com/how-businesses-can-use-livestream-shopping-2021-6">livestream shopping channels</a>, for example. According to Accenture, unlike traditional e-commerce shopping, social commerce actually levels the playing field between online giants such as <keyword id="11893181" type="UNKNOWN" weightage="60" keywordseo="amazon" source="Orion">Amazon</keyword> and smaller brands because it gives these smaller businesses easier access to more customers. "Any brand, large or small, can sell via social commerce, and any individual can now become or create a 'brand' of their own and reach a market directly," Accenture's experts wrote in the company's recent "<a href="https://www.accenture.com/us-en/insights/software-platforms/why-shopping-set-social-revolution?c=acn_glb_socialcommercebusinesswire_12755585&amp;n=mrl_0122">Why shopping's set for a social revolution"</a> report."This has hugely positive implications for small businesses and entrepreneurs as they are able to reach potentially massive markets that were simply not available to them before," the report said. Accenture's survey of more than 10,000 global social media users found that 59% said they were more likely to buy from smaller brands when shopping on social media versus standard online browsing. Almost half of respondents (44%) said they are more likely to buy a brand that they'd never heard of via social shopping channels. "The math is changing dramatically," the report said. "Rather than a handful of big retailers and brands selling to mass markets of millions, we're now seeing millions of individuals and smaller businesses selling to one another within a vast social commerce ecosystem. The result is that big brands will continue to face growing competition from thousands of smaller businesses."China is currently the most advanced market in this area in terms of size and maturity and is paving the way for others. Accenture expects developing markets such as India and Brazil to see the most growth in this market over the next few years. The trend for shopping on social media has grown during the pandemic as more consumers were trapped at home and unable to visit stores. Experts say that social commerce is <a href="https://www.businessinsider.com/ignition-social-commerce-84-increase-salesforce-q3-instagram-tiktok-facebook-2020-11?r=US&amp;IR=T">expected to become the new baseline in digital</a> shopping. "For all intents and purposes, it becomes the next shopping mall," Rob Garf, vice president of industry insights at Salesforce's <keyword id="11893588" type="UNKNOWN" weightage="100" keywordseo="retail" source="Orion">retail</keyword> and consumer goods division, said at Insider's <a href="https://event.on24.com/wcc/r/2704927/1C39BAD57EADFA3B26654C4F8B528E58?partnerref=article_post_post_event">IGNITION: A Retail Revolution</a> panel in November 2020. "Don't sleep on it," he warned.In a conversation with Insider in May 2021, Suketu Gandhi, a partner at management consultancy firm Kearney, said that the need for a more interactive and personal shopping experience online is driving change. "The website is dead. It's so unimaginative and boring right now so there has to be a replacement," he said, commenting on the potential for the growth of <keyword id="12620858" type="UNKNOWN" weightage="60" keywordseo="livestream-shopping" source="Orion">livestream shopping</keyword> in the US, which is still in its infancy.

More consumers are shopping on social media platforms like Facebook and TikTok, and it could end up benefiting smaller brands

E-commerce platform <keyword id="1715801" type="General" weightage="100" keywordseo="shopify" source="Orion">Shopify</keyword> on Tuesday announced to cut 10 per cent of its workforce -- around 1,000 <keyword id="6357081" type="General" weightage="20" keywordseo="employees" source="Orion">employees</keyword> across verticals -- as it failed to predict that the e-commerce industry would continue to grow beyond the pandemic at the same pace it did during the two-year period. The company CEO <keyword id="5695811" type="General" weightage="50" keywordseo="tobi-lutke" source="Orion">Tobi Lutke</keyword> said in a statement that Shopify has to go through a reduction in workforce that will see about 10 per cent leave by the end of the day. "Most of the impacted roles are in recruiting, support, and sales, and across the company we're also eliminating over-specialized and duplicate roles, as well as some groups that were convenient to have but too far removed from building products," he informed. The company was sending emails to those affected and they will "have a meeting with a lead in their team". <keyword id="14565887" type="General" weightage="80" keywordseo="lutke" source="Orion">Lutke</keyword> said that before the pandemic, <keyword id="436047" type="General" weightage="20" keywordseo="ecommerce" source="Orion">ecommerce</keyword> growth had been steady and predictable. "Was this surge to be a temporary effect or a new normal? And so, given what we saw, we placed another bet: We bet that the channel mix - the share of dollars that travel through ecommerce rather than physical retail - would permanently leap ahead by 5 or even 10 years", he mentioned. Shopify's workforce jumped from 1,900 in 2016 to around 10,000 in 2021 to meet the expected growth. However, Lutke said that it is now clear that bet didn't pay off. "What we see now is the mix reverting to roughly where pre-Covid data would have suggested it should be at this point. Still growing steadily, but it wasn't a meaningful 5-year leap ahead," he informed. Those affected in the layoff will get 16 weeks of severance pay, plus an additional week for every year of tenure at Shopify. "We'll remove any equity cliff, and extend any medical benefits. Knowing that Shopify is just one stop on a career journey, we'd also like to help set everyone up for success as they take their next steps," said the CEO., adding that the company will offer outplacement services with access to career coaching, interviewing support, resume crafting, etc. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/there-is-an-exodus-of-games-from-web2-to-web3-says-this-blockchain-adoption-entity/articleshow/93139457.cms">There is an exodus of games from Web2 to Web3, says this blockchain adoption entity</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/rapido-ceo-unicorn-india-invest-in-windo-that-is-helping-small-businesses-take-their-business-online/articleshow/93139058.cms">Rapido CEO, Unicorn India Ventures invest in social commerce startup Windo</a>

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