With the increasing trend of selling products through influencers on social media platforms, this market of the country is expected to do a business of Rs 900 crore by the end of the year. This has been told in a report by Groupum. According to the INCA India Influencer Report, the business in the social media influencer market is expected to grow by 25 percent every year and by the year 2025, the business in this sector can reach Rs 2200 crores.
It was observed in the report that with the increasing scope and influence of the Internet, there has been an increase in the reach of people on social media platforms. In view of this, companies have started tying up with influencers on social media to sell their products. A self-regulatory body of advertisers has also laid down guidelines for such ‘influencers’ on social media. Groupum’s report said that this impactful industry is going through a transition due to the circumstances arising out of the Kovid-19 pandemic and directly connecting with the consumers.
The number of social media users increased in the epidemic
Prashant Kumar, Chief Executive, South Asia, Groupum, said, “There were 400 million people on different social media platforms in India before the start of the pandemic and this number has grown exponentially in the last 18 months. Also there has been a change in consumer behaviour. Companies want to connect with influencers on social media to take advantage of this.
Promote personal care the most
According to the report, advertisements or sponsorships of personal care products account for 25 per cent of the influencer market, 20 per cent of edible and drinking water products, 15 per cent of fashion and jewelery items and 10 per cent of mobile and electric devices. These four categories account for 70 per cent of this market.
Celebrities’ market share is only 27%
Interestingly, the report also found that well-known celebrities account for only 27 per cent of this market, while influencers account for up to 73 per cent. It was also seen in the report that almost two-thirds of the country’s population follows a person who has left an impact on some or the other social media.
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