SOCIAL
Over 80 pc Indian retailers do not see e-commerce as a threat: Report, ET BrandEquity
A majority of Indian retailers surveyed do not feel e-commerce is threatening their operations, with only 18 per cent saying that their sales have been impacted by online selling platforms, claims a study. The top industries witnessing the highest contribution from offline sales are FMCG & Retail (97 per cent), Food & Beverage (95 per cent), and Consumer Durable & Electronics (93 per cent).
MSME-focused digital lender in India NowGrowth surveyed around 3,000 Indian retailers and shoppers across more than 25 top cities in India, wherein it was found that at-home delivery remains a top priority for shoppers, with 60 per cent of offline retailers receiving customer requests to start home delivery services.
Physical stores remain the most popular mode of shopping for Indians despite the proliferation of online marketplaces.
The ability to touch and feel the product is the top reason for the popularity of in-store shopping. Around 54 per cent prefer offline shopping due to the assured authenticity and quality of products.
Approximately half of the respondents are loyal to their local stores, with multiple generations of a family often shopping from the same retailer leading to trust and familiarity. 35 per cent of Indians shop from their local retailer to encourage and support small businesses.
More than 70 per cent of Indian shoppers value a family shopping experience in a physical store, with Indian retailers seeing the maximum footfall at their stores during special occasions such as festivals.
Only 10 per cent of Indian shoppers are shopping exclusively on online selling platforms.
This contribution further varies by generation with 14 per cent Gen Z population shopping only online, this number falling to only 5 per cent for the Gen X population, and 11 per cent of millennials making purchases only online.
Online shopping sees a spike during flash sales and times when higher discounts are offered by e-commerce platforms, with nearly 35 per cent of shoppers preferring online shopping only during flash sales.
Almost 60 per cent of retailers want to focus on physical stores with assistance from digital tools in the future to drive in-store sales with 7 in 10 retailers planning to open new stores to strengthen their physical presence.
The natural process is for a brick-and-mortar business to migrate to online (osmosis) but this new trend is a reverse osmosis where pressure seems to be mounting on e-commerce entities to drive profitable growth; not just growth. Unlike osmosis, reverse osmosis necessitates the use of energy to maintain pressure.
The research explored their purchase dispositions across domains like gifts, fashion, jewellery, automobiles, home décor, travel, entertainment… relative to their spending last year.
SOCIAL
Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?
In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.
The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.
According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.
Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.
Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.
The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.
This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.
Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.
As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?
Only time will tell.
SOCIAL
Catering to specific audience boosts your business, says accountant turned coach
While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.
When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.
“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.
Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.
“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â
“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.
“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.
Watch the video for more of Sandra Parker’s biggest lessons.
SOCIAL
Instagram Tests Live-Stream Games to Enhance Engagement
Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.
As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.
That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.
Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.
That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.
Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.
Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.
We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.
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