If 2020 was the year of adapting to the new normal to survive, 2021 was the year of resilience – when humanity pulled itself together to overcome challenges and hardship to bounce back. Over the last 20 months, we saw the emergence of trends that were more expedient. Decades worth of technological innovations took place in a few short months to keep pace with evolving consumer needs.
Some trends were accelerating – increased rapidly after the initial COVID-19 outbreak and continued to grow even after the lockdown (such as adoption of e-commerce, education technology and video streaming), while others (such as online fitness coaching) were more transient. Notwithstanding Omicron, I would like to believe 2022 will be a more hopeful year and my prediction of the trends are based on my understanding of the environment as it is today.
1. Television ads will be hyperlocal
With the rapid adoption of content streaming and consequently connected TV in metros and mini metros, adtech companies have had to develop technologies that allow sharper and smarter ad targeting on connected TVs. In 2022, we will see the emergence of one such adtech – addressable TV. Once launched in India, it will allow advertisers to serve different ads to different households based on their pincode. And with this, for the first time in the history of television commercials, brands will have the opportunity to customize their story based on hyperlocal insights, making television commercials more relevant for their audiences.
2. Live content will be the leading social media format
Consumers today want relatable and authentic content from brands. Live video streams and audio chat rooms offer an unparalleled opportunity for brands to connect with their audiences authentically. Brands that rely on social media will leverage these uncensored and authentic environments to creatively interact with their consumers through audio or video-led live streams. Apart from content, we will see brands using interactive features such as hand raising and dialogue-based ads to create a more personal bond with their consumers.
3. Brands will invest more in influencer commerce
In 2021, brands adopted short-form platforms such as Instagram Reels and Moj that garnered millions of views through influencer-led campaigns. In 2022, big brands will take short form videos a step forward and invest in influencer commerce as an alternative strategy to acquire new customers, especially from Tier 2 cities and beyond, where these platforms are popular due to the relatability of the content. Though nascent at present, an industry report predicts that live commerce in India will clock a gross merchandise value of USD4 to USD5 billion by 2025. While there are already a few live commerce platforms, in 2022, we will also see a rise in vertical-specific platforms. Myntra has recently launched its own live commerce platform, M-Live, to facilitate fashion and beauty brands to interact with its customers via relevant influencers.
4. The persuasive power …….
