Ep #3| WTF is E-commerce: Kishore Biyani, Udaan & Meesho Founders Reveal What Sells and What Doesn’t | Summary and Q&A

919.5K views
May 7, 2023
by
Nikhil Kamath
YouTube video player
Ep #3| WTF is E-commerce: Kishore Biyani, Udaan & Meesho Founders Reveal What Sells and What Doesn’t

TL;DR

As the world of commerce evolves, influencers have become the new celebrities, shaping consumer trends and driving product sales. Localization and individualization are key in reaching diverse markets, while catering to the aspirations and needs of consumers is crucial for success.

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Key Insights

  • 👶 Social media influencers have become the new celebrities, shaping consumer trends and driving product sales.
  • 🤩 Localization and tailored marketing strategies are key in reaching diverse markets and establishing strong connections with specific regions and demographics.
  • 🤪 Aspiration and ego-driven marketing cater to consumer desires and help individuals achieve a desired lifestyle, increasing consumer engagement and brand loyalty.

Transcript

so you have to go to an airport in a burger shop two seasons in India both harvesting post harvesting marriage starts because that's the resource for them so people are just discovering something and say hey this looks cool I want to buy this what are you saying in summary like if I'm building a product for today what is that inside I have seen chi... Read More

Questions & Answers

Q: How do influencers shape consumer trends and drive product sales?

Influencers have become the new celebrities, with their social media platforms allowing them to directly connect with their audience. By endorsing and promoting products, they influence consumer choices and drive sales through their relatability and authenticity.

Q: What role does localization play in reaching diverse markets?

By partnering with local celebrities and influencers, brands can establish a stronger connection with specific regions and demographics. Localization allows for a tailored approach, taking into consideration cultural nuances and preferences, resulting in higher engagement and brand loyalty.

Q: How important is aspiration and ego-driven marketing in the current landscape?

Consumers today are looking for products that fulfill their desires and help them achieve a certain lifestyle. Aspiration and ego-driven marketing tap into these motivations, encouraging consumers to invest in products that reflect their aspirations and boost their self-esteem.

Q: How can brands adapt their marketing strategies to stay relevant in the evolving world of commerce?

Brands need to stay attuned to the changing dynamics of the consumer market and adapt their marketing strategies accordingly. This involves staying on top of emerging trends, understanding the values and aspirations of their target audience, and leveraging influencers and localized campaigns to effectively reach and engage consumers.

Q: How do influencers shape consumer trends and drive product sales?

Influencers have become the new celebrities, with their social media platforms allowing them to directly connect with their audience. By endorsing and promoting products, they influence consumer choices and drive sales through their relatability and authenticity.

More Insights

  • Social media influencers have become the new celebrities, shaping consumer trends and driving product sales.

  • Localization and tailored marketing strategies are key in reaching diverse markets and establishing strong connections with specific regions and demographics.

  • Aspiration and ego-driven marketing cater to consumer desires and help individuals achieve a desired lifestyle, increasing consumer engagement and brand loyalty.

  • Brands need to stay adaptive and innovative to stay relevant in the rapidly evolving world of commerce, keeping up with emerging trends and understanding the motivations of their target audience.

Summary & Key Takeaways

  • The rise of social media and influencers has transformed the way products are marketed and sold, with consumers being influenced by those who align with their values and aspirations.

  • Localization has become a powerful strategy, as brands target specific regions and demographics through partnerships with local celebrities and influencers.

  • Aspiration and ego-driven marketing is gaining importance, as consumers seek products that fulfill their desires and help them achieve a certain lifestyle.

  • Understanding the changing dynamics of the consumer market and adapting marketing strategies accordingly is essential for success in the evolving world of commerce.

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