The year of 2021 started with a light of hope of recovery. Since the pandemic struck, globally in 2020, businesses across all sectors were affected. However, amongst few others, the sector of Online Shopping rose to the situation as more consumers became willing to shop online.
Woovly, a social commerce platform promoting and selling Direct 2 Consumer (D2C) brands in the space of Beauty & Personal Care, helps users & potential customers shop via brand tagged user generated content, to cater to the growing shopping demands of patrons. In light of the current situation in India which has shown a drastic rise in the sector of online shopping, Woovly helps people create brand tagged content around products they use and consume using its AI technology. Today, India has approximately 696.77 Million internet users, of whom many are first timers who have slowly but surely started adapting to the new buying pattern of online shopping.
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D2C channels are becoming the need of the hour as they are consumer centric and prove to be very helpful since consumers flock to social media for their entertainment, networking and experience with their preferred brands. With an average time of 2.4 hours spent on social media everyday, the urge to shop naturally increases and this leads to rise in sales which in turn creates the requirement for Social Commerce platforms.
This has created a significant opportunity for a large number of upcoming, niche D2C brands, globally. However, with an opportunity comes a set of challenges to be faced. And 2 that are persistently prominent with D2C brands are:
Target, attract & retain an organic audience base
Build brand loyalty with their audience.
In a large community of 3.5+ Million users, and an influencer base of 14,000, Woovly works on a business model that closely works with upcoming, niche brands by creating content for them in the format of short videos where the influencers share their reviews & recommendations of using the brand’s products. Through this model, Woovly is increasing the reach and sales of D2C brands while also building a long term stage for their organic growth. Another advantage of going through Woovly is, the brands are made available with data regarding their consumer’s behavioural pattern which becomes a leverage for them to improve, improvise and build lasting relationships with them. Brands are also provided with real time feedback, which allows a potential customer to interact with a brand before making a purchase, allowing a brand to stay ahead by providing rewarding and better brand experience to their consumers.
Commenting on their working model of social commerce, Venkat, CEO, Woovly says, “Woovly has consistently strived to explore the verticals which better serves our patrons. The D2C model that we have deployed helps us go through with our operations smoothly while only providing the best-in-the-industry solutions to our customers. We have witnessed the numbers surging since we introduced this model into the market and are looking forward to seeing it’s growth in the coming years.“
Woovly’s collaboration is currently numbered at 60+ D2C brands. By March 2021, they are looking to partner with 150+ D2C brands to help them generate leads and sales through their AI brand tagged user generated Shoppable content.
Woovly has raised $2.5 million in the pre series A round from SOSV-VC fund based in New Jersey & Duane Park, family office in India. They have also kickstarted their revenue with an annualized run rate of INR 6 Crores. The brand has been growing leaps and bounds while focusing on delivering the best to its customers.