The influence Indian market is growing, with a new report indicating it could grow by 25% annually and become an Rs.2,000 crore industry by 2025.
According to the INCA India Influencer Report, its rising popularity is linked to the influence of marketing, the phenomenon whereby brands use internet celebrities to promote their products. Influencers now account for 73% of the marketing budget, unlike celebrities, who only receive 27%
With the internet now accessible in every corner of India, the spread of social media has increased, impacting nearly two-thirds of the Indian population.
The rise coincided with the COVID-19 pandemic, with people seeking attention on the internet. India had 400 million people on social media before the pandemic and the number is said to have skyrocketed.
As brands try to reach customers, the importance of influencing marketing increases. According to the report, four categories make up 70% of the industry: personal care (25%), food (20%), fashion (15%), and electronics (10%)