Beyond clickbait, past vanity metrics

Why e-commerce companies are making content a core part of their business strategy

- Christina Moniz

When Flipkart acquired a majority stake in infotainment platform Pinkvilla earlier this month, it became the latest e-commerce player to double down on content marketing. Its fashion platform Myntra also recently launched Glamstream, a shoppable video destination with short-form content that is integrated with the brand's product range. Rival Nykaa has also been upping its content game with Nykaa TV, its YouTube channel, while also building its influencer-led programmes like the Nykaa Army. Amazon has, of course, been leading the content playbook with Prime and Amazon MX Player.

According to a report by Boston Consulting Group, 2-2.5 million content creators are influencing over $350-400 billion in consumer spending in India. Brands like Myntra have seen a 20% rise in conversions with users who engage with content compared with consumers that do not. Nandita Sinha, CEO, Myntra, adds that almost 90% of decision-making around products and trends are influenced by social media content.