In a digital landscape dominated by social media, a recent study conducted by Meta Platforms in collaboration with consumer research platform GWI sheds light on the significant role of Meta platforms in shaping the preferences of Indian online shoppers, particularly in the realms of beauty and fashion. With insights gathered from over 2,000 consumers across 74 cities, the Meta GWI Beauty Report 2023 reveals compelling trends that underscore the transformative impact of social media on consumer behavior.
Key Findings:
- Meta Platforms as Discovery Hubs: A staggering 80% of surveyed shoppers discovered beauty brands on social media, and within this segment, a remarkable 92% found beauty products specifically on Meta platforms. The trend is mirrored in the fashion realm, where 76% of consumers identified fashion brands on social media, with a striking 97% discovering these brands via Meta platforms.
- Instagram Reels Driving Purchases: Instagram Reels, the short video platform under the Meta umbrella, emerged as a significant catalyst for purchases. The report indicates that 33% and 39% of beauty and fashion purchases, respectively, were influenced by Instagram Reels following the initial product discovery.
- Shift in Consumer Preferences: Post-pandemic, there has been a notable shift in consumer preferences, with 68% of beauty buyers now favoring online purchases—an increase of 15% from the pre-pandemic period.
- Influencers as Decision Drivers: The study underscores the influence of content creators, revealing that 66.6% of fashion content viewers and 70% of beauty content viewers follow influencers who play a pivotal role in shaping purchasing decisions.
- Augmented Reality (AR) Impact: Augmented reality emerged as a key player in brand and product discovery, with 75% of beauty shoppers and 78% of fashion consumers expressing that virtual product try-ons encouraged them to make online purchases.
Insights from Meta India’s Director: Meghna Apparao, Meta India’s director for ecommerce and retail, highlighted the rapid growth of beauty and fashion verticals on Meta platforms. She emphasized the transformation of the purchase experience through social media, particularly during festive and wedding seasons.
The Growing Popularity of Meta Platforms in India: Since its establishment in India in 2010, Meta Platforms has witnessed exponential growth, making it one of the largest social media players in the country. With millions of users on Facebook, WhatsApp, and Instagram, Meta has become a vital advertising platform for brands looking to engage with diverse audiences.
Capitalizing on India’s Internet Opportunity: With the Indian internet opportunity projected to soar to $1.6 trillion by 2025, Meta aims to capitalize on this growth. The company’s robust financial performance in India, with significant advertising revenue and net profit, reflects its success in leveraging the popularity of its platforms.
Meta Platforms has not only become a cornerstone of social interaction but also a powerhouse for beauty and fashion discovery, reshaping the way Indian consumers engage with and purchase products online.
