Bengaluru: The success of e-commerce is drawing many new entrepreneurs, some of who are transitioning from traditional jobs to tap into the commercial potential of online shopping.
A report by online shopping portal Meesho observed that 75 per cent of the sellers on its platform are first time entrepreneurs and many of these new sellers have shed their government or corporate employment to branch into selling fashion, home, kitchen and other products.
“Sellers are venturing into new categories and launching innovative products, reflecting their strategic push to meet evolving consumer demands,” said Megha Agarwal, General Manager, Business, Meesho.
Gearing for the upcoming festive season, about 65 per cent are launching new products, while others are adding new categories and investing in seller ads, indicating that product innovation as the primary strategy for boosting competitiveness.
The report also highlighted that online festive shoppers are banking on influencers to buy trending products, with 70 per cent following them for the new-age trend of product review and hauls.
Around 50 per cent of consumers who participated in the survey lean on influencer links for shopping, largely in categories such as fashion, home and kitchen, personal care and beauty.
Published 11 September 2024, 17:03 IST