CoutLoot, India’s largest offline-to-online social commerce platform, has launched a video commerce feature that allows small sellers to engage with potential buyers via short online videos.
According to the company, which was built along the lines of Taobao, creator economy-led revenue streams could see a massive increase and improve the social experience of both sellers and buyers. Over 6.5 lakh sellers can use the app’s new video commerce plugin format to post a video describing their products and store. The video storey will be entirely made up of user-generated content that has been tailored to highlight the sellers’ journey.
“Our video commerce feature is developed while keeping in mind our both set of users – sellers and buyers. Since our sellers are indigenous local traders, they might not have the technical wherewithal to market themselves. However, they do know how to upsell and our new feature brings out a host of information about the sellers, merchandise and stores,” Jasmeet Thind, cofounder of CoutLoot said.
The videos will also bring transparency to the forefront by displaying real-life product conditions, assisting buyers in validating the authenticity of the sellers and their products. Simultaneously, as videos become social proof, sellers can use short stories to acquire customers.
According to a recent report by RedSeer Consulting, the gross merchandise value of live commerce via short videos in India is expected to reach $5 billion by 2025. This is primarily driven by small towns, where several companies are concentrating their efforts to expand distribution through local sellers.
CoutLoot, founded by Thind and Mahima Kaul, is a platform that allows buyers and sellers to negotiate while shopping. It assists sellers in listing non-MRP (non-fixed-price), unbranded local market products in fashion, electronics, home decor, sports, and other boxed categories, which account for three-quarters of India’s retail market.
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