Report
- ByStartupStory | November 20, 2023
A recent study commissioned by Meta, the parent company of Facebook, Instagram, and WhatsApp, in collaboration with GWI, underscores the growing reliance of Indian consumers on social media for shaping their purchasing decisions. The study found that a significant portion of viewers engaging with fashion and beauty content on Meta platforms, comprising Facebook, Instagram, and WhatsApp, actively follow Indian influencers.
Megha Apparao, Director of Ecommerce and Retail at Meta, emphasized the robust growth of both the beauty and fashion verticals on Meta platforms. She noted a rising trend among advertisers in these sectors turning to Instagram Reels for enhanced engagement and business expansion.
In the beauty realm, the study revealed a notable shift in consumer preferences, especially post the COVID-19 pandemic. Approximately 68% of surveyed consumers now prefer making beauty purchases online. Social media, particularly Meta platforms, plays a pivotal role in this process, with 80% of respondents indicating that they discover brands on social media, and a staggering 92% finding them on Meta platforms.
Similarly, in the fashion domain, 76% of consumers reported discovering fashion brands through social media, with a substantial 97% doing so on Meta platforms. Instagram Reels emerged as a key player, influencing 52% of fashion brand discoveries.
A noteworthy trend highlighted in the study is the increasing awareness and adoption of artificial reality (AR) in online shopping. Among beauty consumers, 75% noted that virtual product try-ons significantly improved their purchasing decisions. The fashion sector closely followed, with 78% expressing the positive impact of virtual product try-ons.
Consumer feedback underscored the crucial role of reviews in shaping purchase decisions. A lack of reviews was deemed nearly equivalent to negative reviews. Positive product reviews and authenticity emerged as the top criteria encouraging purchases, as reported by a majority of respondents.
As Indian consumers navigate the dynamic landscape of online shopping, the study provides valuable insights into the evolving role of social media platforms, particularly Meta, in influencing consumer choices and preferences.