WATConsult, an Isobar Company and the globally recognised hybrid digital agency from Dentsu India, has released the fifth research in the WATInsights – Digital Commerce series. The paper by WATConsult’s research section, Recogn, is titled ‘Digital Commerce in India – Hyperlocal Commerce.’ The article discusses the need for hyperlocal delivery, the implications of the pandemic on hyperlocal usage, and the model’s advantages and disadvantages.
The number of specialised companies in the hyperlocal arena has increased in home décor, home services, groceries, basics, and pharmaceuticals. Traditional companies have moved their attention to hyperlocal and direct-to-consumer business models as the country has grown. This change has been expedited even more because of rising internet usage and changing customer behaviour.
It’s worth noting that the hyperlocal method allows firms to reach out directly to their target clients, bypassing the traditional business model’s intermediaries and retail locations. This improves the purchasing experience for clients by providing convenience and prompt delivery, particularly in the areas of logistics, food, pharmaceuticals, and groceries. Dunzo, 1mg, UrbanCompany, and BigBasket are just a few instances of hyperlocal business.
According to the survey, clients in both metros and beyond have flocked to this type of e-commerce. In India, 141 million people utilise hyperlocal commerce, accounting for 48 percent of all e-commerce consuamers. By the end of 2022, hyperlocal commerce buyers will have risen by 52% to 214 million.
“Hyperlocal enterprises have been fast increasing with the possibility of expanding exponentially,” Heeru Dingra, CEO, Isobar India group, remarked in response to the newest edition of WATInsights – Digital commerce in India – Hyperlocal commerce. The number of brands entering this area has increased, and it is expected to consolidate even more in the next years. All stakeholders gain from Hyperlocal’s engagement with local retailers and the digital connections they develop with their customers since they are now all connected to the supply chain model.”
“Businesses, more than ever, are embracing digital channels to reach out to customers with a speedier go-to-market, regulated brand perception, and enhanced direct-to-consumer (D2C) engagements,” said Sahil Shah, Managing Partner WATConsult. The pandemic’s impact on numerous businesses has resulted in substantial changes in India’s retail market. The use of technology to enable additional digital touchpoints is one of the most noteworthy examples. Hyperlocal has become a primary priority for all D2C companies and marketplace-heavy firms as a result of this trend. Local shops have grown their market share thanks to this new hyperlocal strategy. The FMCG firms, in particular, have been able to grow their businesses by pushing their inventory efficiently.”
Recogn, WATConsult’s research vertical, has already produced several extensive and comprehensive pieces of research, including ‘Digital Diverse and Multilingual India,’ ‘Voice Technology in India: Now & Future,’ and ‘Instagram in India,’ among others.
Follow and connect with us on Facebook, LinkedIn & Twitter
