With the constant growth of technology, people enjoy limitless options of entertainment, specifically online entertainment. The demand for personalised content is driving people to online entertainment. And E-commerce is a new means to sell entertainment. Businesses that can optimise the latest technologies and tools of innovation will undoubtedly thrive in the new world unfolding before us.
Here’s everything brands need to know to constantly strive towards exceeding customer expectations and stay pertinent in today’s time:
Growing Age of On-demand Entertainment
The entertainment sector constantly seeks new ways to adapt to the digital world and provide what’s best for customers in light of the rising demand for internet services and high-quality video content. Moreover, with viewers now having a wide range of options to pay to see content on the go through OTT apps, firms are facing much tighter competition concerning online image management.
More than 70% of millennials regularly stream online content. As a result, worldwide viewership on websites like Netflix, Amazon Prime, and YouTube has instantaneously increased. It is anticipated that the popularity of these internet streaming services will increase, given how quickly consumers are utilising mobile apps to access various entertainment platforms.
Embracing E-commerce Entertainment
When it comes to retailtainment, E-commerce has a significant edge over in-store retail since it allows companies to connect with their target audiences in the digital space where they are already spending an increasing amount of time. Based on customers’ browsing history and buying baskets, relevant E-commerce platforms offer clients individualised ideas directly to their inboxes.
The objective is to develop a consumer experience that is alluring, interesting, and enlightening and extends beyond the realm of straightforward transactional shopping. Brick-and-mortar and online retailers are both investing in retail entertainment experiences that engage customers, boost digital branding, enhance sales, and increase relevance, from experiential pop-ups to live shopping events.
The scale and importance of the Indian E-commerce market have grown exponentially. The sector has become an integral aspect of modern life due to technological and digital transformation. The direct advantage is that the businesses targeting people with higher screen time by developing on-demand apps, gaming apps, social apps, and more will see the highest revenues in the coming years.
With the introduction of Quick commerce, internet shopping in India appears to have advanced product fulfilment through specialised high-speed deliveries. Spotify subscription provides an advertisement-free experience with additional features like unlimited skips through playlists. Downloadable music and subscription services led to a redistribution of power from major record companies to music consumers and artists.
Metaverse Transforming E-commerce
The D2C model, which has permitted significant expansion across the nation’s E-commerce business, gave rise to new-age phenomena, including digital debuts, sampling activities, and services like live chats. The level of digital innovation made possible by the metaverse existence is astounding. From high street storefronts to online purchasing, the retail sector has undergone a fast change.
AR gives people the power to examine a product’s appearance in their own environment in addition to viewing a 3D model of it. Videos have become a popular way for businesses to interact with their customers. Brands can successfully persuade consumers to learn more about their goods and services by utilising brief video content.
Collaborations and endorsements amongst brands, becoming popular ways to generate income, are also proving to be a terrific method for brand positioning. Reputable brands and companies once worked with YouTube and social media influencers to engage with their customers through various channels.
Businesses can create television shows and films and then work with on-demand streaming services to get their content in front of their target audience. With such a massive proportion of users coming from mobile apps, ticketing services have increased development efforts to create new mobile innovations that make the ticket buying process easier and more enjoyable.
Major E-commerce and short-video platforms combine entertainment, commerce and instant communication to create highly interactive shopping experiences. The lack of creativity in forming e-tail techniques is startling but can be reversed by forward-thinking companies. Brands can turn to an array of partners who can help them reach diverse audiences cost-effectively, precisely as advertising on search and social media becomes more expensive. Irrespective of the exact format they choose to pursue, marketers and online vendors engaging in retailtainment will benefit from a diverse set of partners — and that’s increasingly useful in a marketplace where the go-to options bring a scant opportunity for originality and differentiation.