Women Handle 40% of Instamojo-owned Online Companies, says Bengaluru-based Start-ups Survey
By: WE Staff | Wednesday, 12 January 2022
According to the Bengaluru-based payments start-up's recent survey, 40% of the total online companies supported by Instamojo are owned and operated by women. Instamojo received over five lakh women visits in 2021, according to the research, with women over 50 showing greater interest.
The paper, titled 'Indian DTC brands eCommerce forecast 2022,' examines trends and advances in the Direct-to-Consumer (DTC) industry, drawing data from more than 20 lakh small firms in 2021.
Instamojo's Co-Founder and CEO, Sampad Swain, stated, “as entrepreneurs and small businesses increasingly learn the benefits of selling independently online, we can expect the DTC model to catalyse business growth significantly in the coming quarters.”
He further said, “in the post pandemic world, the DTC model can be an effective solution to accelerate business recovery. As we witness the shift of DTC businesses to the online medium, we aim to support the growth journey of more than 250,000 small business owners.”
Consumer expectations of brands are at an all-time high, according to the survey, as consumer conscience rises. This year, not only for the product, but for the whole supply chain, there will be a greater emphasis on sustainability. According to the survey, “consumers are also becoming more aware of ‘where’ the product comes from. There has been an increase in Indians wanting to support local and small businesses over industrialised factory products or from multinational corporate brands.”
It also points out that, in most circumstances, customers are not opposed to sharing their data; rather, openness is what they expect.
While firms will try to invest in SEO to improve their marketing, influencer marketing will take the lead, with YouTube leading the charge, according to the survey. In addition, according to Instamojo's estimate, influencer marketing budgets will skyrocket in 2022, particularly for micro-influencers, who have a stronger grasp on specific areas. DTC businesses are expected to spend 40% more on performance marketing, according to the research.
Consumers will be able to mimic mall experiences through social media live feeds, according to the research, and will feel like they are part of a community.
As per the survey, as the number of independent enterprises grows, there will be a considerable move to revenue-based funding rather than traditional venture capital. The survey featured, “DTC brands that will successfully scale in 2022 will be the ones that identify ways to reduce dependency on Facebook and Instagram alone.”