India on its way to Digital Transformation
India’s 1.3 billion people are heading toward a robust digital transformation. India with more than 500 million internet users, is home to the world’s second largest internet user base. Improving standard of living in cities and increasing urbanisation in remote areas has paved a way for internet access and mobile phones into the lives of Indians and this is leading the country toward a Digital transformation. Recent trends in various online sectors such as digital payments, e-commerce spending and online gaming have been rising tremendously. Social distancing norms and lockdowns owing to COVID-19 further accelerated this growth.
Digital Payments
Unified Payments Interface (UPI) registered around 1.56 billion, the highest number of payments transacted for the first time ever in the month of August as per the data provided by National Payments Corporation Of India (NCPI). The monetary value of the transactions was 2.85 lakh crore. The month of July recorded around 1.49 crore transactions with a monetary value of 2.91 lakh crore, which was the highest until July.
The fear of exchanging currency notes, various sectors returning to normalcy and changing patterns of consumers’ spending can be attributed to the massive growth witnessed by the digital sector. COVID-19 is a major force behind this digitisation as small businesses and consumers have now started to understand the importance of online transactions. They are more comfortable in making payments digitally rather than cash.
The digital payments sector is staring at a future which is full of growth as Indian consumers are striving to change their payments habit. In a recent report by RedSeer Consulting , digital payments market is expected to grow at over three-folds to Rs. 7,092 trillion by 2025 from a market value of about Rs. 2,162 trillion in 2019-20. Also, the number of current users will increase by 5 times, rising from 160 million to around 800 million by 2025.
Online Spending
COVID-19 has changed the way India shops. People are now buying more online than from physical stores and malls. As per Unicommerce, a SaaS-based e-commerce platform, the e-commerce sector recovered by over 90% as compared to its pre-lockdown order volume. The recovery was much faster than anticipated, it further noted.
The reasons behind this are manifold. The anxiety of going out and standing in lines, patiently waiting for their turns are making people use online shopping places. Thus, the convenience, accessibility to the internet and need for safety are major drivers behind this shift in consumer behaviour.
There’s also a change in the way people use these sites to shop from. Earlier these e-commerce sites were mostly used to buy either fashion or electronic goods. More People are now buying personal hygiene and personal care products. Recently, the introduction of quick delivery services and heavy discounts by many of these sites prompted consumers to buy groceries and food staples digitally.
Initially, ecommerce sites also faced a lot of issues and was finding it difficult to ensure a stabilised supply but with cooperation from the government and a phased unlocking in the country helped them overcome the problem.
Online Gaming
India found a way to kill its boredom during the strongest lockdown imposed in the world. India’s gaming industry registered a 30% year-on-year growth. Paytm First Games which offers more than 100 games on its platform said its user base grew 200% during the lockdown period and it registered 90 million apps downloads.
India is one of the top gaming markets amongst emerging global economies with around 628 million gamers. The Indian online gaming industry is expected to be worth $1.1 billion dollars by 2021 as per a Google-KPMG Report.
India’s young population makes it an attractive choice for gaming companies. In India, where the average age is just 29 and with 75% of the population under the age of 45, the gaming industry has a lot of untapped potential.
With the improving standard of living and deep penetration of mobile phones and Internet, India comes second to the US when it comes to downloading games. A booming gaming sector is also responsible for the fervent trend. The number of online game development companies have risen to 275 in 2019 from just 25 in 2010.
Cheaper data, affordable mobile phones and a growing tech savvy population are the main drivers behind this transformation. Even the pandemic is responsible for the current scenario in many ways. In any way, the changes in the digital environment will do wonders for the country.
Sources: https://economictimes.indiatimes.com
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LinkedIn – The New Favourite in the Marketing Game
LinkedIn is changing the landscape of digital marketing advertising and how.
Reid Hoffman created LinkedIn back in 2003. His purpose was to create a platform where professionals could gather, connect, and exchange useful information. What he didn’t know was that soon LinkedIn will become an eye candy for marketers around the globe the most preferred choice of marketers around the globe.
What ‘Vocal For Local’ Initiative Has In Store For India
India’s Bid To Become Vocal For Local Is Leading To Digital Literacy And More
“Vocal for Local”, the buzzword has been in the spotlight for quite some time now. It is an initiative that calls for the support of local products and businesses, urges civilians to come forward and lend a helping hand to such businesses by campaigning for them. It also emphasizes the importance of local manufacturing and economical support for the country during these tough times.
Prime Minister Narendra Modi announced a financial package of 20 lakh crores to keep the economy afloat. Along with announcing the relief package, he also coined the term “Vocal for Local” and emphasized the need of supporting local products and businesses by campaigning for them. He also spoke about the importance of local manufacturing and how it supported the citizens during these tough times.
“Corona crisis has also explained to us the importance of local manufacturing, the local market and local supply chain. In times of crisis, this local has fulfilled our demand, this local has saved us. Local is not just the need, it is our responsibility also. Time has taught us that we must make the Local a mantra of our life.” said the Prime Minister
The Prime Minister also urged the local businesses to go from “Local to Global” citing an example of PPE kits and N95 masks. From having almost no manufacturers of PPE kits to producing an average of 6 lakh PPE kits everyday and exporting some of it, India has come a long way. He places the same confidence in producers from other industries as well, thus encouraging them to have a global presence.
“The Global Brands you feel today were sometimes also very local like this. But when people started using them, they became Global from Local products. Therefore, from today every Indian has to become vocal for their local, not only to buy local products, but also to promote them proudly.” he further said.
Why “Vocal for Local”?
The government’s purpose behind going vocal about local is manifold. Making India self-reliant or Atma Nirbhar is the biggest of all. The Prime Minister’s firm belief that self-reliance prepares any country for tough competition in the global supply chain is the driving force behind this campaign.
Another reason to promote the local businesses is to secure the financial interests of all those who served us during the lockdowns. Addressing the nation, PM Modi said, “Street vendors, domestic workers, labourers have faced a lot of troubles. They have sacrificed a lot. It is our duty to take steps to secure their financial interests. Locals have fulfilled the demand arising out of the Coronavirus pandemic and subsequent lockdown. They have saved us from the crisis. Time has taught us this.”
Many leading Indian companies immediately tapped the emotional sentiment connected with the campaign by promoting their Indianness and localness. Their advertising and sales pitches leverage the mantra given by the Prime Minister.
Dabur: Go#Vocal4LocalProudly Indian (video)
Parle Products: Bharat ka apna (video)
Marico: Indianness and Pride (image)
Amul: Indian Taste (video)
However, the aim of the campaign is to bring small and local businesses to limelight and help them to prosper so that they produce welfare, sustainable incomes and help in job creation. But it is not easy for these businesses to leverage the mantra given as some of them have no idea about how to go ahead with it or what they need to do. Local lockdowns which were placed in areas of containment zones are still adding to their woes. Low or no physical sales and less customer interactions are big hurdles in keeping their businesses running. Some local business owners who do not have access to digital connectivity are also facing problems in retaining their old customers.
In such a situation, digital marketing can prove to be beneficial for these businesses. Digital marketing agencies can help them lessen the burden caused by the pandemic and make the most out of the “Vocal for Local” mantra. Digital marketing services can help these businesses in engaging the existing customers, facilitating sales online and even adding new customers to its base who were earlier not aware of the business’ existence.
We at SavvyTree provide all kinds of digital marketing solutions that a business needs. SavvyTree loves everything that is digital and therefore we work with utmost dedication and passion for you. We let you focus on your business operations while we take care of your business’ digital presence. With a committed team and client centred philosophy, we strive to provide results that guarantee growth within the decided timelines. Our services are affordable even for businesses which could not go online due to budget constraints.
SavvyTree specialises in and offers every digital marketing service that helps in establishing any business as a reputed brand:
● Social Media Marketing
● Website Development
● Content Marketing
● Digital Strategy and Analysis
● Online Reputation Management
● SEO
● Email Marketing
● Pay Per Click (PPC)
● E-commerce
On the eve of India’s 73rd Independence Day, SavvyTree launched a campaign for “Vocal About Local”. The purpose of this campaign was to support the Prime Minister’s vision of building a country which is not only self-reliant but also a global hub of supply. This can be done only when we encourage and support our local businesses which serve us relentlessly and uninterruptedly.
SavvyTree kick started its journey to lend a helping hand to businesses and industries which will form the foundation of a stronger and a new digital India. Through its campaign, SavvyTree aimed to highlight the specialities and native industries of diverse states of India. It also aimed to capture cultural and economic aspects that help every state to stand out in a crowd of thousands in the world. A whole new world of opportunities pops open in a country like India, where every state has something distinct to offer to the world.
The campaign further focused on improving the digital awareness of the owners of local businesses, helping them understand why it is important to have an online presence. It shows how going digital can prove to be a boon for them and how it can add value to their operations.
During the whole month of August, SavvyTree talked about the valuable contribution that local businesses have made to their respective industries and to the country. There were brand stories that applauded various local businesses and startups that brought about a huge change in the society. These stories were about businesses that solved major problems faced by a particular community of our country or about businesses that chose the internet as the medium of their operations and reached new heights of success.
SavvyTree, also featured a few local brands that have made a mark in the respective industries they belong to. It was an effort to recognise how these brands are changing the Indian business environment and are taking it to a next level. SavvyTree tried to recognise and appreciate their ethical practices and unique services for the contemporary Indians.
Taking its campaign to a next level, SavvyTree also initiated a contest that was purely for local businesses that were looking to tap the untouched potential of the internet for their own ventures. Local businesses were given a chance to win our exclusive social media marketing services. This was a golden opportunity for small businesses as they would have a first-hand exposure of how a digital presence will work for them. And they would also get to experience how a captivating digital presence can do wonders for them.
Have a look at our “Vocal For Local” Campaign:
Mastering Content Marketing: A Complete Step-by-Step Guide
COVID 19 pandemic has altered every aspect of our lives and has caused enormous impact on the world. While we are still trying to adjust to the changing situations, digital platforms have been a blessing. Digital marketing has now become more important than ever before. It has proved to be the most useful medium to continue with one’s businesses.
Following are some of the trends that have become a rage in the field of digital marketing:
Top 5 Reasons to Take Your Business Digital Today
The COVID19 pandemic has made the world standstill. With the government’s significant intervention to deal with the ongoing crisis, businesses are now adjusting to the new environment and the changes in customer’s needs and behaviours. It has definitely shown the world the power and necessity of digital mediums.
Digital Marketing Trends Amid Covid 19
COVID 19 pandemic has altered every aspect of our lives and has caused enormous impact on the world. While we are still trying to adjust to the changing situations, digital platforms have been a blessing. Digital marketing has now become more important than ever before. It has proved to be the most useful medium to continue with one’s businesses.
Following are some of the trends that have become a rage in the field of digital marketing:
