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Hello Reader,
Welcome back to the latest edition of GH Pulse. In this chapter, we cover some key highlights regarding the EOSS, MarTech ecosystem, consumer trends, and more!
Meta’s recent launch of a text-based app called Threads drew a lot of attention from brands across the D2C ecosystem. Pegged to be the rival version of Twitter in its current form, the platform hasn’t been able to live up to its hype. The fastest-ever platform to reach 1 Million users witnesses a drop in user engagement by 70% within a month. Our early assessments suggest that the established brands should hold on for now, as it still remains a space to watch out for!
Starting in early June this year and continuing up to late July, EOSS (end-of-season sales) recorded a tepid response for retail brands. Dwarfed by the growth of 50% around last June, this year the growth number averaged at 7% only. The major reason for the slump has been attributed to the incessant rain in the north followed by flood alerts forcing consumers to stay at home and deliveries being hampered big time.
Despite reduced growth rates, digital transformation remains the top growth agency for retail leaders in India, with a recent report suggesting that 94% of Indian social media users purchased fashion through social media. While inflationary and recessionary pressures are making consumers withhold purchases for now, the festival season is just around the corner and expected to yield great results this year.
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