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<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image"><a title_source="BI Intelligence" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/56796702eab8ea990485e595-960/john-h-ignition.jpg"></a>BI Intelligence</div></div></div>Millennials are fast becoming the most important demographic for publishers, brands, and marketers. For these digital natives, the smartphone is not only ubiquitous, but also their primary computing device. At Business Insider's Ignition 2015 event, BI Intelligence's Senior Analyst John Heggestuen delivered the following presentation explaining how the smartphone's dominance will shape digital commerce. Here are some of the key takeaways:<ul><li style="font-weight: 400;">Millennials are quickly becoming the most important consumer demographic.</li><li style="font-weight: 400;">The smartphone is not millennials' only connected device, but it dominates their life.</li><li style="font-weight: 400;">The smartphone has a long way to go as a commerce device.</li><li style="font-weight: 400;">Mobile in-store payments will explode.</li></ul>Interested in downloading the full slide deck? Get it now by <a href="http://www.businessinsider.com/intelligence/research-store?IR=T&amp;utm_source=businessinsider&amp;utm_medium=report_teaser&amp;utm_term=report_teaser_store_text_link_how-the-smartphones-dominance-will-shape-digital-commerce-2015-12&amp;utm_content=report_store_teaser_text_link&amp;utm_campaign=report_teaser_store_link#!/Generation-Digital-Slide-Deck-Data/p/58148209/category=11987293">clicking here.</a> <div class="KonaFilter image-container float_left click-to-enlarge"><div class="image"><a title_source="BI Intelligence" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/560d7831bd86ef20008be865-960/devices_only.png"></a>BI Intelligence</div></div>PS. Did you know...Our BI Intelligence INSIDER Newsletters are currently read by thousands of business professionals first thing every morning. Fortune 1000 companies, startups, digital agencies, investment firms, and media conglomerates rely on these newsletters to keep atop the key trends shaping their digital landscape - whether it is mobile, digital media, e-commerce, payments, or the Internet of Things.Our subscribers consider the INSIDER Newsletters a "daily must-read industry snapshot" and "the edge needed to succeed personally and professionally" - just to pick a few highlights from our recent customer survey.With our full money-back guarantee, we make it easy to find out for yourself how valuable the daily insights are for your business and career. <a href="http://bii_www.businessinsider.com/bi-intelligence-research-2-week?IR=T&amp;utm_source=businessinsider&amp;utm_medium=report_teaser&amp;utm_term=report_teaser_newsletter_text_link_how-the-smartphones-dominance-will-shape-digital-commerce-2015-12&amp;utm_content=report_teaser_newsletter_text_link&amp;utm_campaign=report_teaser_newsletter_link">Click this link to learn all about the INSIDER Newsletters today.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/online-shopping-security-risks-internet-malware-adam-levin-2015-11">The biggest security mistakes people make when buying things online</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JkYm0zeTqONkxksdDZUvBQ96QmWamtrp" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

How the smartphone's dominance will shape digital commerce

Digital Marketing for E-Commerce

<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

2014 was a dramatic year for the eCommerce industry in India. The year saw mergers and acquisitions, funding from across the globe and witnessed record breaking sales with customers adopting and accepting to this mode of shopping. The Indian eCommerce industry grew at an exponential rate and 2015 seems to be even more promising. The industry is expected to reach $6 billion in 2015, a 70% increase over 2014 revenue of $3.5 billion according to Gartner, Inc. 
 For the entire <keyword id="1664180" type="UNKNOWN" weightage="20" keywordseo="Digital-commerce">digital commerce</keyword> industry, whether it is television, mobile or on the Web, I think it is just the beginning. As an entrepreneurial venture and as an industry, we just have cracked the surface. It is impossible to even fathom how big this industry is going to be in the next ten years. The eCommerce growth will not be a mere 2% of our retail, but this could be as big as 20%--this growth won’t happen in ten years but in a much shorter time. 
 
The immediate effect of the growth of the industry will result in employment opportunities and quite a few professionals and young guns will look at joining startups. We will also see growth of the newer categories like grocery and food gaining momentum. Also, the growth of m-commerce is already apparent, but next year will see mobile become the first screen for a large part of the population and is likely to take over web transactions. Also, for TV shopping specifically, we believe mobile will play the role of a complimentary second screen, aiding consumers in deeper discovery and wider choice besides ease of ordering. 
 
The digital commerce industry is all about last mile delivery. So next year, I foresee logistic sector expanding and catching up with the demand and creating a mechanism to reach out to tier III &amp; IV towns of India. Lastly, technology will continue to play an important role in the growth of this industry and Big Data will help in acquiring new customers and reaching out to them with personalized products and promotions. 
 Finally, we are looking forward to the upcoming <keyword id="6358021" type="PERSON" weightage="20" keywordseo="budget">budget</keyword> for a Uniform <keyword id="6354679" type="ORGANIZATION" weightage="20" keywordseo="GST">GST</keyword> and tax measures, which we feel are crucial to make digital commerce a success story in India. The move will simplify the tax structure and make India one common market by rationalizing the supply chain and thereby, benefiting each member of the value chain-most of all the customers. 
 
(About the author: This article has been written by Sundeep Malhotra, Founder &amp; CEO, HomeShop18) 
 
Image: www.fashionbi.com

Digital commerce banking on uniform GST and
tax structure to propel growth

<ul><li>The 14th edition of <keyword id="906455" type="COMPANY" weightage="20" keywordseo="India-Digital-Summit">India Digital Summit</keyword> held in Delhi, will address topics related to policies, advertising and other industry related trends.</li><li>Delegates from Amazon, PayTm and other industry leading firms will address the Summit</li></ul>Union communications minister <keyword id="6354886" type="PERSON" weightage="20" keywordseo="Ravi-Shankar-Prasad">Ravi Shankar Prasad</keyword> will deliver the inaugural address at the 14th India Digital Summit to be on February 5-6 at The Lalit in New Delhi. The flagship event of IAMAI (Internet and <keyword id="592650" type="COMPANY" weightage="20" keywordseo="Mobile-Association-of-India">Mobile Association of India</keyword>) will raise topics like policies, advertising, digital commerce, start-up ecosystem, emerging tech, and other digital trends. Delegates across the ecosystem like cloud, e-commerce, travel, automobile and “India is on the verge of taking the next digital leap, with over 451 million monthly active internet users and is in second place after China in terms of internet users,” IAMAI said. Top executives like <keyword id="215413" type="PERSON" weightage="20" keywordseo="Amit-Agarwal">Amit Agarwal</keyword> of Amazon; Vijay Shekhar Sharma of PayTM; Sanjeev Bikhchandani of Info Edge will also be present at the summit. As digitization and data collection have become common, industry players and the government alike have become increasingly aware of data privacy. Data breaches too are becoming more common, pushing the government to take cognisance of the need to regulate the industry. Data localisation too is a much debated issue where the government wants to keep Indian data in local servers which is making life tough for MNCs. While this theory’s advocates argue that it will help implement data privacy laws more effectively while global firms feel data will be <a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">more vulnerable if it’s all in one place</a>. In the meanwhile the world of cybersecurity is changing rapidly. Threats continue to evolve at-par, if not faster than cyber intelligence can keep up. Old methods like trojans are still rampant with new threats like phishing attacks, webcam blackmail, and deep fakes ramping up. As all businesses go digital, some of these issues have been dragging them behind. The two day summit will feature a series of leadership talks by Baijayant Panda, former member of parliament; <keyword id="1929751" type="PERSON" weightage="20" keywordseo="Mohit-Bhatnagar">Mohit Bhatnagar</keyword>, managing director, Sequoia; Dhruv Shringi, co-founder &amp; CEO, Yatra and vice-chairman, IAMAI.

India Digital Summit: union communications minister will discuss digital policies, commerce and startups at the summit

The IAMAI-IMRB report has stated the <keyword id="1664180" type="UNKNOWN" weightage="20" keywordseo="Digital-commerce">digital commerce</keyword> in India will touch Rs 2.1 lakh crore by December 2016, riding on e-commerce growth. 
 
As per the study, the digital commerce will grow by 68 per cent from December 2015. 
 
The digital commerce market has grown at a CAGR of 30 per cent between December 2011 and December 2015. It was valued at Rs 125,732 crore by the end of December last year, the report stated. 
 
Online travel continued to account for 61 per cent share of the market at Rs 76,396 crore. This is further expected to grow at a CAGR of around 40 per cent to reach Rs 1,22,815 crore by end of 2016. 
 
Online non-travel, comprising segments like e-tailing, financial service and matrimony and classifieds accounted of Rs 49,336 crore at the end of December, 2015. 
 
The report said online hotel bookings have seen a substantial movement growing 165 per cent year-on-year to Rs 5,200 crore in December last year from Rs 1,965 crore in the year-ago period. 
 
"The market reached close to Rs 5,231 crore in terms of transactions as of December 2015. The demand for online utility payment is expected to reach Rs 6,068 crore by December 2016," it added. 
 
Other online services market that include booking movie tickets and tickets for other events, online commuting or cab hire, online grocery and food deliver, stood at Rs 3,823 crore in December 2015, up from Rs 2,025 crore in the previous year. 
 
Also, demand for other online service is expected to grow at a CAGR of 36 per cent to reach Rs 5,207 crore by December 2016, the report said. 
 
(Image: Thinkstock)

Digital commerce is going to be huge in India, to touch Rs 2 lakh crore by the end of 2016

Reliance Retail-based <keyword id="3275685" type="General" weightage="80" keywordseo="dunzo" source="Orion">Dunzo</keyword>s B2B logistics arm, Dunzo for Business (D4B), on Thursday announced its partnership with the governments Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> (<keyword id="5862596" type="General" weightage="20" keywordseo="ondc" source="Orion">ONDC</keyword>) to provide last-mile delivery services to local enterprises on the ONDC network. D4B has a fleet of over 75,000 delivery partners, connecting over 20,000 merchants to customers and running millions of orders every month. GrowthFalcons is one of the first businesses D4B has serviced on ONDC. "We are very happy to have a strong logistics provider like Dunzo for Business on the ONDC network. This partnership will accelerate our efforts to make last-mile logistics accessible to a wider audience of buyers and sellers across India," said T Koshy, CEO, ONDC. D4B's key merchants include Fynd, Wellness Forever, DotPe, EatClub and Magicpin, among others. "Starting our journey with key metros, we will scale our services to more cities and become the backbone for intra-city deliveries in the Indian e-commerce ecosystem", said Dalvir Suri, Co-founder, Dunzo, and Head of Dunzo for Business (D4B). Dunzo is present in the top eight cities in India and has over 10 million users. It is backed by <keyword id="58448" type="General" weightage="50" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>, Google, Blume Ventures, Aspada Investments, LightBox Ventures, STIC Ventures and 3L Capital, among others. With ONDC, a Unified Payments Interface (UPI)-type initiative of the Ministry of Commerce and Industry to promote open networks, the government is trying to create the largest interoperable open platform in a bid to break e-commerce monopolies and build a more democratised digital marketplace by bringing micro, small, and medium enterprise as well as small traders online. Dunzo earlier this year raised $240 million to expand its footprint in India.ONDC recently boarded Go Frugal, Paytm, Digit, PhonePe and Loadshare, among others. E-commerce platform Snapdeal is set to debut on ONDC this month.

Reliance-backed Dunzo's B2B logistics arm arrives on ONDC

<keyword id="10387" type="General" weightage="100" keywordseo="microsoft" source="Orion">Microsoft</keyword> on Tuesday onboarded governments open network for digital commerce (<keyword id="5862596" type="General" weightage="20" keywordseo="ondc" source="Orion">ONDC</keyword>), with an aim to introduce social e-eommerce via its app in the Indian market. The tech giant plans to launch a <keyword id="2532086" type="General" weightage="20" keywordseo="shopping-app" source="Orion">shopping app</keyword> for the <keyword id="471072" type="General" weightage="20" keywordseo="indian-consumers" source="Orion">Indian consumers</keyword>, along with their social circle, harnessing the ONDC network to discover the best pricing among retailers and sellers. "By utilising the strength of our open network users, Microsoft, too, can implement their creative ideas like social commerce swiftly, said T Koshy, MD and CEO, ONDC. By 2030, the Indian e-commerce industry is anticipated to reach a market size of $400 billion, increasing at a 19 per cent compound annual growth rate (CAGR). "Initiatives like ONDC can be a game changer amid this boom. Their UPI-like network for digital commerce is a win-win for both buyers and sellers as it will enable them to connect without dependency on any eCommerce solution, said a Microsoft spokesperson. With ONDC, a Unified Payments Interface (<keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword>)-type initiative of the <keyword id="6416832" type="General" weightage="50" keywordseo="ministry-of-commerce-and-industry" source="Orion">Ministry of Commerce and Industry</keyword> to promote open networks, the government is trying to create the largest interoperable open platform in a bid to break e-commerce monopolies and build a more democratised digital marketplace by bringing micro, small, and medium enterprise as well as small traders online. Companies like Dunzo for Business (D4B), Go Frugal, <keyword id="14675799" type="General" weightage="20" keywordseo="paytm-digit" source="Orion">Paytm, Digit</keyword>, PhonePe and Loadshare has joined the ONDC network. E-commerce platform Snapdeal is set to debut on ONDC this month. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/germany-confirms-first-monkeypox-case-in-a-child/articleshow/93451733.cms">Germany confirms first monkeypox case in a child</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/coinswitch-launches-10-million-web-3-discovery-fund-to-invest-in-early-stage-indian-startups/articleshow/93452169.cms">CoinSwitch launches $10 million Web 3 Discovery Fund to invest in early-stage Indian startups</a>

Microsoft onboards ONDC to launch shopping app for Indian consumers

<keyword id="14907483" type="General" weightage="20" keywordseo="jm-financial-institutional-securities-ltd-" source="Orion">JM Financial Institutional Securities Ltd.</keyword> has released its report on Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> (<keyword id="5862596" type="General" weightage="100" keywordseo="ondc" source="Orion">ONDC</keyword>) terming the company a population-scale initiative to democratise e-commerce, the detailed report concludes that it has the potential to create a win-win scenario for incumbents as well as new entrants. The report also terms extreme operational complexity as the roadblocks for ONDC. "With its primary focus of enabling e-commerce for small retailers and MSMEs, ONDC has the potential to enhance retail digital penetration in the country at an even faster pace than what was seen during the COVID lockdowns. The network will enable a wider customer catchment to small retailers and direct customer access to MSMEs, creating millions of million-dollar businesses," said the report. Using an open source protocol, ONDC switches the approach from closed platforms to a network that creates interoperability across all on boarded applications, says the report. "This interoperability enables unbundling, which allows all participants to play to their strengths -- a banking app with millions of consumers focuses on boarding/engaging consumers while a SaaS provider for online sellers handholds the sellers. Further, the buyers get to stick to their app of choice for accessing a broad selection while sellers do not need to spend time and capital in working with multiple platforms in silos. Overall, this can drive capital efficiency for the players, helping them achieve profitability," said the report. As per the report, the roadblocks to success of ONDC include solving the chicken and egg situation between supplier and buyer on boarding, customer complaints redressal (as a fragmented process also creates gaps for the process to fall through), competition issues in case the large incumbents or massive brands are on boarded as well as those related to data privacy and ownership. "Looking at <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> evolution, ONDC might also need to decide on its positioning as a non-regulatory authority or becoming a rule-setting body in order to ensure that the network remains fairly attuned for the small retailer to not get marginalised," said the report. Open Network for Digital Commerce (ONDC) has been incubated with the primary purpose of supporting grassroots-level entrepreneurship and digitising small, local retailers by making them a participant in India's e-commerce revolution. ONDC is pursuing an open protocol approach that drives interoperability between all onboarded platforms and, hence, lowering the entry barrier for a retailer to sell online. This allows a consumer on any app of his/her choice to buy from any seller across the network even if the seller might not be onboarded on the app that the customer is using. "We appreciate this move by the Indian government to take the digital revolution across the nook and corner of the country and believe that this could be a massive driver in taking India's digital penetration in retail from the current 5-7 per cent to almost 20 per cent in the next 5 years (current IBEF estimate is of 19 per cent by 2030)," said the report. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ril-acquires-california-based-solar-software-developer-sensehawk-for-32-million/articleshow/94016174.cms">RIL acquires California-based solar software developer SenseHawk for $32 million</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-has-held-its-own-despite-sharp-depreciation-in-other-currencies-rbi-governor/articleshow/94015738.cms">Rupee has held its own despite sharp depreciation in other currencies: RBI Governor</a>

ONDC is a population-scale initiative to democratize e-commerce: JM Financial

<ul class="summary-list"><li><keyword id="11897664" type="UNKNOWN" weightage="60" keywordseo="nike" source="Orion">Nike</keyword> stock is <keyword id="11899353" type="UNKNOWN" weightage="60" keywordseo="guggenheim" source="Orion">Guggenheim</keyword>'s "best idea" for 2022 amid its push into the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword>.</li><li>Guggenheim's Robert Drbul said he's closely watching Nike's digital strategy.</li><li>The analyst also raised his EPS estimates for the company and said it's the leader in athletic apparel.</li></ul><a href="https://markets.businessinsider.com/stocks/nke-stock">Nike stock</a> is headed for new highs this year, thanks in part to its push into the metaverse, according to a Wall Street analyst.Guggenheim's Robert Drbul dubbed the athletic-apparel retailer his "best idea" for 2022 in a December 31 note, saying Nike "is rapidly embarking on the next era of its company history," which he expects to be "digitally led.""The brand commands dominant market share, which we expect will grow materially from here as digital scales further, new product innovation remains robust, and heavy investment behind key growth drivers continues," he wrote.Drbul maintained a buy rating and a price target of $195 on Nike stock, which was down 1.8% Monday after gaining 18% in 2021.He said the company is "the leader in the athletic apparel industry," and raised his earnings per share estimates for 2023 to $4.85 from $4.50 and for 2024 to $5.70 from $5.27. Drbul said he's closely watching Nike's evolving digital strategy and its engagement in the metaverse, a digital world where people interact. "What would any outlook for 2022 be without mention of the Metaverse?" he said. Insider reported previously that Nike has been <a href="https://www.businessinsider.com/analysis-of-nike-patents-reveals-companys-metaverse-plans-2021-11?r=nike-RTFKT-story">pushing into the future internet</a>, called both Web 3.0 and the metaverse. Its push has included video games, the creation of a metaverse studio, and even a promised line of digital sneakers called CryptoKicks.In December, the Beaverton, Oregon-based company announced its acquisition of influential <a href="https://www.businessinsider.com/nike-acquires-rtfkt-as-it-accelerates-metaverse-play-2021-12">digital sneaker-maker RTFKT</a>, which had previously received a $33 million valuation in a funding round led by Andreessen Horowitz.The metaverse shot into the mainstream in 2021 when the company formerly known as Facebook rebranded to <a href="https://markets.businessinsider.com/stocks/fb-stock">Meta</a>. The concept has struggled to land on a single definition, and prominent people, such as <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla's</a> Elon Musk, have <a href="https://markets.businessinsider.com/news/currencies/jack-dorsey-metaverse-spat-unfollowed-web3-tyler-winklevoss-marc-andreessen-2021-12">snubbed the idea</a> altogether.Even so, many see non-fungible tokens, aka <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword>, as the <a href="https://markets.businessinsider.com/news/currencies/facebook-metaverse-nfts-crypto-meta-cryptocurrencies-2021-11">key to unlocking</a> this digital world where avatars of individuals can shop, play video games, build worlds, buy land, and more.

Nike is headed into the 'next era' of digital commerce as its metaverse strategy evolves, says Guggenheim

The government's Open Network for Digital Commerce (ONDC) platform will democratise e-commerce for millions of small retailers in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, paving the way for the rise of more dedicated distribution and logistics companies, Infosys Chairman and Co-founder <keyword id="44604" type="General" weightage="80" keywordseo="nandan-nilekani" source="Orion">Nandan Nilekani</keyword> said on Tuesday. According to him, ONDC will not be limited to a few players but everyone in India - a person owning a small grocery store, a small electronics retailer or a restaurant owner - bringing millions of such people to the e-commerce marketplace and buyers will come from any consumer app. "Today, India has achieved financial inclusion in about seven-eight years with homegrown technologies like Aadhaar, UPI, QR code and more. The next step is to connect millions of small retailers to mainstream e-commerce with ONDC to create a robust digital public infrastructure," <keyword id="36748" type="General" weightage="100" keywordseo="nilekani" source="Orion">Nilekani</keyword> said during a <keyword id="6357886" type="General" weightage="80" keywordseo="phonepe" source="Orion">PhonePe</keyword> launch event. The fintech major announced the launch of a new Shopping app called "<keyword id="4310825" type="General" weightage="80" keywordseo="pincode" source="Orion">Pincode</keyword>", built on top of the ONDC platform. The app will focus on hyperlocal commerce and is now available for download on Google Play Store and <keyword id="115504" type="General" weightage="50" keywordseo="app-store" source="Orion">App Store</keyword>. Pincode is currently live only for customers in Bengaluru and will launch in other cities very soon, said the company. Nilekani said that the government is going to democratise e-commerce to take it to the masses. PhonePe said ONDC can foster the rapid growth of a new hyperlocal e-commerce business model. Apart from local buyers and sellers, such a model will also benefit other ecosystem participants like the last mile logistics and inventory management players "Pincode is built on the ONDC network, which allows us to generate demand for merchants digitized by various seller platforms in an inclusive manner while creating new opportunities for growth and driving innovation at scale," said Sameer Nigam, CEO and Founder PhonePe. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/ipl-2023-rajasthan-royals-and-royal-challengers-bangalore-emerge-as-experts-top-picks/articleshow/99243483.cms">IPL 2023: Rajasthan Royals and Royal Challengers Bangalore emerge as experts' top picks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/two-tax-regimes-rise-of-freelancers-drive-people-to-tax-experts-chartered-accountants/articleshow/99243392.cms">Two tax regimes &amp; rise of freelancers drive people to tax experts, chartered accountants</a>

ONDC to foster hyperlocal ecommerce business model in India: Nandan Nilekani

<ul><li>WATConsult’s research division – Recogn, unveils the 3rd report of WATInsights - Digital commerce series.</li><li>146 million <keyword id="9674678" type="General" weightage="20" keywordseo="video-commerce" source="Orion">video commerce</keyword> shoppers in India who have purchased and transacted on <keyword id="21654" type="General" weightage="100" keywordseo="video" source="Orion">video</keyword> commerce platforms.</li></ul>WATConsult, an Isobar Company and the globally awarded hybrid digital agency from dentsu India, has released ‘Digital Commerce in India - Video Commerce’, the 3rd report of WATInsights - Digital commerce series. The report by Recogn, WATConsult’s research division, shares insights on the scope of the futuristic channel of advertising and captures consumer sentiments towards using this platform for shopping. Today, India has one of the highest per capita consumptions of Internet data, heavily skewed towards video content consumption. This, along with the rapid growth of the Indian e-commerce market, has given rise to a new format called video commerce. Currently, there are around 146 million video commerce shoppers in India who have purchased &amp; transacted on video commerce platforms. The total is nearly 49% of all e-commerce users in India, today. The number of video commerce shoppers is expected to reach 216 million by the end of 2022, growing at a rate of 47%. Thus, the format has immense potential for brands to connect directly with their consumers. As per the report, when it comes to the video content format, most customers prefer explainer content videos followed by customer testimonials &amp; product demonstrations. While product videos add a different dimension to the online shopping experience, video content with a duration of 15 seconds to a minute can make users stay longer on the platform. Also, if they like the videos, they share them with their circle of friends and family, further increasing the reach of the content. Live streaming commerce in India is gaining traction and it can help brands, retailers, and marketplaces to accelerate conversion, improve the brand appeal &amp; create differentiation. More than half of the customers state their affinity towards shopping online during live streaming on social media and shopping apps. Commenting on the latest issue of WATInsights- Digital Commerce in India- Video commerce, Heeru Dingra, CEO, Isobar India group said, “Video commerce has become popular with more Indians moving online and discovering new ways of shopping through video platforms. When it comes to buying products, customers are interested and want to see what they are getting. It offers businesses and marketers a higher rate of conversion and is the most powerful instrument in today’s age. There is a huge opportunity to capture the video-based social commerce market, especially live-stream-based e-commerce while the market matures. Consumers today are frequently looking out to streamline and enhance their experience, they prefer instantaneous results. Brands can use this format to streamline their sales. I believe this latest issue of WATInsights will be an invaluable resource for anyone who intends to demystify <keyword id="13192684" type="General" weightage="20" keywordseo="video-commerce-in-india" source="Orion">video commerce in India</keyword>.” Sahil Shah, Managing Partner, WATConsult added, “The world has moved towards dynamic content and is driving commerce through video. This is the next big leap! I think the true power of video led marketing on digital will come into play when it can have a direct impact on the bottom-funnel metrics as well. On top of that, if one can get creative with the many formats available then it is the ultimate icing on the cake. This fantastic report made by our research division will give you a lot of data backed learnings &amp; insights to activate the next phase of growth for your brand’s commerce through the use of video. I hope everyone enjoys reading the report as much as we did, making it.” For the record, WATInsights 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. WATInsights delve into the different aspects of the digital industry, consumer behaviour and more. Additionally, the research also covers some relevant topics like Instagram in India – users’ perspective, voice technology in India and the usage of the internet in the local language. 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.

Number of video commerce shoppers is expected to reach 216 million by the end of 2022, growing at a rate of 47%: WATInsights

<div class="image-container float_right" style="width:400px"><div class="image"></div>Rich Lesperance, <keyword id="377607" type="COMPANY" weightage="60" keywordseo="Walgreens">Walgreens</keyword></div>Walgreens — an iconic brand founded in 1901 and now the leading U.S. drugstore chain — is winning its industry’s social commerce race. Among the fastest growing retailers in the country, Walgreens expects to reach an organic growth rate of 2.5 percent in 2013, while others are in a stall at best.
So how are they doing it? Walgreen’s surged ahead by focusing on customer-first innovations like Refill by Scan, new digital photo services, drive-through pharmacies, “Find Your Pharmacist” online features, coupled with smart acquisitions (Duane Reade, drugstore.com), and an aggressive, true-to-brand social media strategy that seamlessly integrates its e-commerce platforms.
At Business Insider's second-annual <a href="http://www.businessinsider.com/event/socialcommerce-2013" target="_blank">Social Commerce Summit</a> on February 6, 2013, in New York, Rich Lesperance, Head of Digital and Emerging Media at Walgreens, will reveal how the company's social commerce strategy is fueling its fast growth.
Reserve your ticket for Social Commerce Summit now and you'll score the extra-early bird rate. Startup leaders, investors, and Fortune 500 executives will discuss the evolution of the digital purchase funnel, from discovery to click-and-buy. Speakers for 2013 already include:
<ul>
<li>Doug Mack, CEO, One Kings Lane</li>
<li>Will Young, Director, Zappos Labs</li>
<li>Jill Braff, EVP, Digital Commerce, HSN</li>
<li>Ben Fischman, CEO, Rue La La</li>
<li>Kirsten Green, Managing Partner, Forerunner Ventures</li>
<li>Yirong Xu, CEO and Founder, Meilishuo</li>
<li>Jeff Richards, Partner, GGV Capital</li>
<li>Jared Hecht, Co-Founder, GroupMe</li>
<li>Daniella Yacobovsky, Co-Founder, BaubleBar</li>
<li>And Walgreens’ Rich Lesperance</li>
</ul>
Social Commerce Summit speakers will delve into strategic topics that include:
<ul>
<li>Product discovery via social media on Web and mobile.</li>
<li>Demand generation using social platforms, features, and tools.</li>
<li>Customer acquisition on Facebook, Twitter, Pinterest, Instagram, and more.</li>
<li>Customer retention and loyalty in the digital era of comparison shopping.</li>
<li>ROI: Ditching vanity metrics and understanding your impact.</li>
</ul>
Here's who should attend Social Commerce Summit:
<ul>
<li>E-commerce and digital executives who need to stay abreast of new developments.</li>
<li>Social commerce investors who want to source new opportunities.</li>
<li>Entrepreneurs who want to meet the competition — or defeat them.</li>
<li>Publishers who need to learn about integrating commerce into content.</li>
<li>Consultants and agencies who are responsible for delivering maximum social-media value to their clients.</li>
</ul>
Get your <a href="businessinsider.ticketleap.com/social-commerce-summit-2013/" target="_blank">ticket</a> now.
Follow us on Twitter @BI_Events for program updates and discounts. See you in February!

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