Brands Increase Their Focus on Influencers for Consumer Trust

Influencer marketing set to grow as 92% of brands adopt it in 2024

- CHRISTINA MONIZ

INDIA'S INFLUENCER MARKETING industry reached an estimated ₹3,600 crore in 2024, as per a report by WPP's influencer and content firm, The Goat Agency in collaboration with Kantar. The industry is set to grow at a CAGR of 25% till 2026, as marketers continue to make influencers a core component of their marketing strategy.

Nearly 72% of the 52 brands surveyed demonstrate a growing preference for long-term influencer partnership, while 95% of these showed a clear inclination towards macro influencers (100,000 to 1 million followers). That said, niche micro-influencers (follower count of 10,000 to 1,00,000) are gaining traction across high-consideration categories such as automotive and consumer durables, with 85% of marketers in these verticals planning increased investments.

From the consumer's perspective, the report observes that creators continue to influence the purchase funnel significantly with over two-thirds of the 350 social media users surveyed noting that they turn to influencers for product discovery, information and action. 70% of the brands cited factors like trust and credibility as the top reasons to partner with influencers, especially those in categories like banking, finance and FMCG.