Conscious buying behavior is now on the rise, as eco-activism witnesses a more than 50% increase in conversations; 833K conversations around sustainable packaging: Gipsi report
- Based on the “Deep Listening” methodology,
Tonic in the worldGIPSI’s insights division has achieved unique and actionable insights.
- The pandemic has led to the phenomenon of the designer economy, with an increase in product conversations as well as store reviews by 1,447%.
We always consume, list and add items to multiple carts, on multiple e-commerce portals, knowingly or unknowingly, especially due to pandemic-induced behavior.
GIPSI, the HI + AI (Human Intelligence + Artificial Intelligence) division of Tonic Worldwide applied its ‘Deep Listening’ methodology, triangulated with a survey (100 respondents) and 20 interviews with SMEs to arrive at unique information. There are multiple sources of data for the ‘Deep Listening’ method – it goes beyond digital conversations and maps data to interests and research, coupled with unique HI perspectives giving actionable insights. All data compares January 2021 to July 2021, as well as to 2020 data, where applicable.
Main conclusions of the GIPSI report:
The pandemic effect is the main trigger for increased adoption of e-commerce, with the majority of respondents shopping online having tried at least 2 new e-commerce sites / apps in the past year.
- Types of e-commerce on the rise: social commerce, chat-based commerce, small local commerce, delivery commerce, video commerce, sustainable commerce, second-hand commerce, gift commerce, designer commerce … the list is endless! Implication: India’s digital audience today is around 620+ million, made up of fans, friends, followers, subscribers, passive surfers, all of whom are likely to be consumers!
- The rise of ‘apps’ in e-commerce: Currently there are 1,103 most used e-commerce apps in India and shopping apps today have captured mobile home screens and ranked in the top 4. most used categories in the list of most used applications. Mobile applications in India, in 2021. Implication: The struggle for home screens has begun. Are you ready?
- E-commerce surfing increase: Every month, around 620,000 searches are made for social commerce, increasing month by month. With the average Indian spending around 2.25 hours a day on social media today, commerce has become content now! Implication: Presence alone is not enough! Your e-commerce content must be stunning.
- Rise in e-commerce “search”: About 54% of product searches are on Amazon, with respondents attributing the same, rather than using a search engine. Involvement: How visible is your brand? Use search behavior to decode consumer intent and interest.
- Rise of the “experience” in e-commerce: Today, from chatbots and live videos, to conversational commerce and augmented reality features, the options are plentiful. The inclination towards conversational commerce is on the rise, with a 79% increase in industry-led conversations about conversational commerce decoding and the technologies involved. In addition, the major conversational AI platforms are experiencing constant growth. Implication: “The experience” can be your post-pandemic benefit. Invest in the experiences now.
- Rise of “entertainment” in e-commerce: E-commerce destinations now compete with social media networks and OTTs, with customers spending more and more time on these shopping destinations. Soon, this experience will replicate shopping malls – with the ability to watch movies, shop, and order food, all in an “electronic mall”! Implication: E-commerce is not just a medium. It is now a destination for entertainment.
- The rise of shopping on “visual and video platforms” in e-commerce “: Visual platforms are experiencing a huge increase on all platforms. The preference for “Instagram shopping” dominates, followed by Facebook, Youtube and Pinterest. There is also a strong tilt towards shopping on Pinterest, with growth of 799%. Implication: Make visual platforms the new address of your store.
- The rise of ‘reviews’ in ecommerce: Driven by the phenomenon of the ‘creator economy’, ecommerce reviews are also driven by the reviews and recommendations of social media creators who can make or break brands on digital. There was a 1,447% increase in conversations, with 3X positive sentiment and 25,000 more conversations specifically about ecommerce destination reviews and recommendations. Implication: Brands, what is your valuation quotient (RQ)?
- The rise of “Small Commerce” >> “Delivery Commerce”: The boom in small commerce has seen immense growth with creators, home businesses and local stores also bringing their consumer experience entirely online, with a 155% and greater increase in adoption of Whatsapp catalogs and + 46% increase in Shopify app downloads. This thriving space has logged over 1.5 million searches on topics related to building / setting up eCommerce websites, free tools, and related queries. Additionally, there has been a 73% + growth in monthly active users from popular hyperlocal delivery players since the start of 2021 – until now. Implication: Brands, it’s time to recheck who your competition is. Don’t forget to include new shops in town
- The rise of ‘
Eco-activism” in electronic commerce: witness to a more than 50% increase in conversations on the subject and in particular 833,000 conversations on the environment and sustainable packaging, this conscious shoppingbehavior is now on the rise. Implication: Products, personality and packaging with an ecological filter are essential
Anjali Malthankar, Country Strategy Director at Tonic Worldwide, said: “Who knew that the biggest hurdle, contactless shopping, would become the main trigger for the boom in e-commerce! With abundant data, there is no going back on the reasons for adopting digital commerce. Trends are accessible to everyone, but brands that identify the underlying trends will have an advantage. Our GIPSI report is addressed to all those who are driving, considering or fearing the rise and the rise of electronic commerce ”.
Commenting on the report,
GIPSI was launched in 2018 and is led and led by Unmisha Bhatt, Director of Strategy, Tonic Worldwide and Anjali Malthankar, National Director of Strategy, Tonic Worldwide.