 So hello everyone, I'm gonna start off right away. I think we are very close to lunchtime. So I get how it feels right now Welcome Just to get to the to the set of questions that I have in mind and of course the people that I spoke to I Think commerce over time changed where we purchased our products and Mobile commerce Transformed how we purchased So my first question is for you Tejas You know mobile commerce I think the stats say so is that it contributes or it controls two-third of the global commerce market What do you think has led to the stupendous growth of mobile commerce in India? Just to set the context of course Yeah, thanks for this question here. I think quite relevant to set the context for the discussion I think and the Things I'm gonna speak everyone knows it, but you know, it's hard hitting every time you go to this facts, right? So I think mobile commerce There are three factors. I think broadly speaking which has led to a stupendous growth And all has to do with access. So I think first is access to smartphones. I think 750 million plus in India using smartphones out of which only 200 are online shoppers, right? And Almost 90% of them are mobile Mobile commerce Shoppers so that's that's that's the numbers out there Second is access to internet. I think last five years every one of us has seen how Geo has unlocked that wave To all of us like everyone is on the internet everyone consumes a lot of data So that's the second bit and the third is Ease of payments or access to payments. I think India's invention to the world is UPI, right? So It's made the payment so easy that everyone is comfortable Transacting which was a biggest pain point prior to the explosion and of course to top on all of this I think the pandemic has really turbocharged this growth Into like next five years, I think we can see a great growth and we have seen a lot of shoppers coming in the last two years because of Unavailability of offline retail for a brief period. So there Not like yes, we did see that major shift in 2020 where like people are not going to a general trade shows but In the current year, it's it's like people have moved back to offline retail as well But they do have an option now and they are comfortable Transacting few things online. So while they might Go for the top up to top up to their regular purchase on general trade But if they are planning a grocery mission or like a payday like whenever they get their salaries They might plan a bigger chunk online. So that we are seeing a shift but not to the extent of What smartphones or fashion has seen so fashion is 60% online right now But grocery or consumer product is still five to seven percent But that still you know has scope to grow Stages next is for you. I mean Kotak Mahindra Bank So I just wanted to know as a marketer of Kotak Mahindra Bank, which is one of the reputed banks in the country And given the rise of mobile commerce, how as a marketer are you juggling strategies? You know to reach audience and what are the opportunities and challenges you have come across you can share some examples Sure, thank you for that hero and thank you also for rescuing us from being flamed for not being a diverse panel I realized that after we came up on stage so Because Banking has actually ironically been digital for a very long time, which people don't necessarily realize easily in some ways We've always been completely digital. We became Kotak Particularly became mobile first as early as 2011 now. It's like 12 years 11 years ago almost But of course we see ourselves first as enablers of commerce enablers of mobile commerce as well because we are essentially the payment pipe He kindly mentioned UPI as a transformative tool and we've embraced tools like UPI We we also saw huge spurt happened when Regulation stains on the back of demonetization where we were able to acquire customers purely online purely from the mobile Because all you have to do is enter your other number and your pan card number and Bob's your uncle You have a fully functional bank account running, which is like a three-minute process Given those that India stack Magic that happened because of that we are at the forefront of Mobile commerce even ourselves and we are doing that apart from being enablers to all our friends over here We're also seeing that our ability to cross sell or to Extend more value products beyond just the bank account to our own customers For example on the back of our product 811. It's a basic vanilla savings account product Which is what you can acquire in three minutes But as soon as you acquired that now today just like any other mobile commerce player We also are able to mine the rich data where we have access to your transaction data We are able to personalize your offers to you We know that you like swiggy more than you like Zomato or vice versa and so on We're able to use all of that not just for our own purposes to be able to sell you the next best product You need from our own portfolio But also from the portfolio of our partners where we are able to present the best deals the best alliances Feed your habits in a really personalized manner Girish was talking about that in some sense earlier Which is about me being able to know you but know you in a sense That is of service to you not know you in the sense of being like a snoop on you So when I'm of service to you I think you value it and that's what we have largely leveraged and that is working gang busters for us So I'll pause now But are you seeing any challenges while of course There are a lot of opportunities ahead any challenges that So, yeah as a market here, I will say And this is something I think come Mr. Tyagaraj and also alluded to I'm seeing a huge shift of money to performance marketing and I am a huge critic of performance marketing because it is Fundamentally it is rolling our sleeves up and getting down and dirty. It does deliver business. It is efficient But it is hurting brands and I think we're commoditizing brands the more the needle is moving towards performance So when the ratio is dominantly in favor of performance work The brand is going to be commoditized and that I feel is the biggest challenge that marketers have and I am facing it too Interesting my next question is for you Sadesh Given the rise in mobile commerce, of course, we all talking about it How important has it become for a brand to invest in mobile user experience? That's one Secondly, do you think augmented reality or immersive technologies in any way will help to fuel mobile commerce growth even further? So so one particular thing is the immense growth of E-commerce as we call it right now. It's more of e-commerce on a marketplace So I think it's very important for brand to help the consumer Get that experience on their own brand website, which will actually boost the the entire e-commerce bit because right now Whenever somebody is buying a product on a marketplace or for that matter with a BFSA category like as on aggregator We are not owning the customer. So we are not giving him the experience of that particular brand So I don't know whether he'll stay with me for the next particular purchase or not and hence it's important for us to give him that experience and The thing which we just mentioned augmented reality. These are just Ways in which we can help him understand things better We always say future is mobile. I think it's present present in the in the current scenario We when we are saying two-third of things are on mobile or transactions happening on mobile Why are we saying it's a future? It's it's currently there currently the approach should always be a mobile first kind of approach in fact things like Gaming or in gaming purchases. I was having a conversation with one of my friend and he just mentioned that last year the Transaction rates were somewhere around 1% of the total gaming Audience which he has and that 1% has now moved up to 2.5 to 3% Which you can see there's a 2x 3x growth already happening on those numbers. So people are Moving to that particular phase where they want to transact It's just how you want to place your brand in that particular Scenario and then try to give him that experience for me My majority of my business comes from a B2B kind of a setup. So for me my end consumer is is also slightly I would say my Partner who's selling my my products and services. So we are trying to give him the best of the services not just by Helping him get the transaction online, but at the same point of time helping him sell my product pretty well So whatever arms and emanations it requires to go into the market and get that particular customer for me I think that that's that's where we are investing more money is on and that's where I think everybody should invest their monies and Try to give him that power to sell your products properly. So Overall, it's the present and if you're not doing it right now, I think it's gonna be difficult for you to Get anything in the future Sure, Cathy. Do you want to add something on to that to mobile user experience? I'm by the way one of your customers as well and I use the app Okay, first time elated second. I'm going to be wary. There's a customer service complaint coming No, but you have my number so you should call me anytime you have a problem so From the customer experience point of view, I think there are things to be done one of the problems with the fact that the customer is completely moved to mobile Which is positive because everything is a click away and I think The reason why if I if I were to read why UPI and even something like ONDC is happening in this country is There are two actually fundamental reasons for it one is We know that when we have to pull cash out of our wallet and hand it across to somebody There is actually a deep physical pain we feel so separate parting with cash is very hard The credit card companies learned very quickly that swiping a card was much easier Now clicking a button is the easiest thing in the world. There is no pain whatsoever What that is going to do for this country is explode GDP on the one hand the second reason why UPI is happening There's also that now every single rupee of revenue of every single trader and seller is trackable So tax revenues will go up both these things are incredibly positive for the nation as a whole in this The customer is benefiting obviously also, but she's also hurting she will we will end up becoming a Conspicuous consumption country. I think in the legs less than five years to ten years from here Luckily for us India is this massive time machine where there are people who have not consumed anything for the longest time They are just getting on the consumption band wagon There are also people at the other extreme who look like Americans now where we buy much more than we can ever eat Much more than we can ever wear etc So I think there will be social fabric problems that will emerge because of this spectrum and all of us will have roles to play and Responsibilities and accountability and we will have blood on our hands eventually as well So we'll have to watch out and I think this is something that Tangential and Iraq alluded to in the morning and I want to alert us to that also and Iraq talked about sleep and One of the dinette Statistics that I noticed was that people are put together Ten hours on the mobile phone every day Now you have to sleep eight hours to be healthy. You have to work eight hours to earn an honest day's wage Where the hell is family or friends or anything else if all of that is going to the mobile I think we are in a dangerous space and we all have to take pause also And I know the previous panel spoke a lot about how there is the opportunity is exploding to advertise But I also feel that as marketeers we have a responsibility to say hey Are we doing too much? Are we hurting more than we are helping? We are being mindful. I hear you loud and We need the next one We spoke at the backstage a lot about message bird and how mobile commerce is not limited to apps or Marketplaces but too unlimited to mobile itself, right? given that How do you think and do you firstly think tier 2 tier 3 cities are adding to the growth of mobile commerce and will continue to add in The years ahead. I feel it's already happening, but do you think it will continue to have and at greater levels? That's one Secondly, how do you think a marketer will then maneuver strategies to you know address the diverse consumer? Profiles that they might have Thank you. So I'm gonna take two cues from Tejas and Karthik one is 700 million mobile phone users, but 200 ish million unique commerce buyers second is The Quotex experience probable customer service complaint coming down the line So if you actually look at this and if you look at tier 2 tier 3 and even Tier 1 or urban if we may call it the consumer is Everywhere which means the moment you have a device you are a consumer. We all are and that's not 200 million That's 700 million That shift has happened where? Businesses need to take their business to the customer not the other way around as you tell them to come where I am Which is a retail store which is a website Which is an app if I want to make a dinner plan and WhatsApp today I can buy a product consumer product and raise a customer service Take it inside a channel like WhatsApp if I'm on Instagram and I see an ad I can buy that product there. So I think To your question of scaling tier 2 tier 3 tier Yes, it's going to happen because you don't have to go in and be physically or digitally present Customer is already present in these forums. We have to recognize that it's not one strategy that my website's gonna work Yes, it's a great platform. My app's gonna work. Yes, it's a good approach But be where your customer is rather than get your customer to where you are and I think that's changing Brands that recognize are gonna classically succeed. I'll give a small example of a leading Computer manufacturing brand global brand the biggest problem statement on customer service was I'm present across 100 odd countries various products We simply give customers want to contact us. How do I? Get them to contact me and solve the problem upsell Simply put a QR code at the back scans open WhatsApp Now you imagine you've given hundreds of millions of customers of that brand the power to talk to the brand address PII data first-party data and Consumer product or service from the brand from the mobile itself, which is 700 million now in India interesting Shivam I think a lot about Performance so my question is directed to that now Do you think? You know mobile commerce or what impact would mobile commerce have on in on ad revenues in the years ahead one secondly Are there any ways to improve? Mobile commerce performance if so, what are your recommendations which you perhaps might be doing for your brand yourself? The Interest for a product that exists in the world. So the product that's coming from the quality of the product, I think that that is something that, I think it's not me, but I think that it's a patient who, who further evolved that, not able to enhance the product, you know. And then that sort of other, I think in all of these things, that I think have massive potential to explore many models. One thing, which I think is one of the big ones, is WES, you know, and, you know, for WES, specifically to do something that I know, WES, I think about, you know, about two million dollars of any model that I need, that I need, or three million dollars, so it's grown, you know, 2,000 percent. And specifically in my experience, in fact, I think it compares to me, in the Spanish language, the visual language is the use of WES in an amazing case, right, for the meaning of the rules of the search, and that is, you know, why, that is definitely something that happened, and that again has immense potential to grow, right. I mean, there are so many things happening in WES, but I don't think it's still as bad when I'm in this room, it's often being there for work. The third idea that I think that the way we move into space has to be up, right. Again, we are somebody, but understand who's trying to do research at any of these products, and as soon as they're in one of the experience, visualize the product before they buy it, right. So, for example, you might have an experience to buy it, and you want to see it in, you know, all the solubles, actually, VR belongs to that medium, so you have to actually visualize where you are, and even the fact that, you know, that it's really, it has a hand-to-hand insight, and apologize for the increasing, and this is part of what has been the greatest experience for the consumers on the end-of-sci-forge and visualize the innovation. I think we are, we are, at least with memory, we are as a fit for the solubles. Thanks, Shivam. I'm cognizant of the time, and as I know, I know lunch is to follow. So, I'll take up the last question, which is actually addressed to all of you all. Predict the present, I wouldn't say the future also. Predict the present and the future of mobile commerce if you had to do that. What are the trends you foresee, and what is the future you foresee for mobile commerce? Just a note from each one of you all, would help. I think it's simple, what I said, Aleko, be where your customer is, your customer's already on the mobile, but the channels have changed. Be where they are on their channels versus asking them to come where you want them to be, and then it just explodes the whole world of mobile commerce. So, as Shivam mentioned, the customer is on the platform, which wherein he's having a lot of distractions. So, try and give your messaging as quickly as possible. Try to make him comfortable with your particular medium, and I think that's the key for your mobile to be the future successful. I think a lot of, we all like to shop on our own, right? But I think large part of new consumers are not tech savvy, they don't know how to search. I think a lot of assisted selling slash buying is going to come up soon, and it's already exploding in terms of social commerce that people are helping others by, they are showing how it looks when you use that product or you try that product. I think that is something which will help unlock the new shoppers and driving them back again. Because right now, I think most platforms are getting those shoppers for the first time, but having them come back is something which is what the social angle will give, yeah. There's a lot to say, but I'll say only one thing. I look forward to the possibility that micro entrepreneurs, like for example, handloom weavers, from Maheshwar, from Sanghanair, from Mangalgiri, will all have a fully national market without too many intermediaries in the way, and that will be wonderful for India. So that's one prediction I like. Thanks, I think a lot has been said already, but I would just like to add that a couple of things that again are emerging and would see explosion in the near future, in my opinion, is live commerce. Again, that's something that is happening on social media platforms, but on e-commerce platforms also. I think that is something that is exploding in India and it's doing well. In addition to that, I think for the future, right? I mean, a lot is being said about the metaverse and what's in store for that. I think that's what is there in store is still ambiguous, but I think if there is a possibility for e-commerce to give live virtual experiences to consumers of shopping in a mall, right? Mall-like experiences to consumers on e-commerce, I think that could be something that could be explored. I personally don't think that is gonna happen in a Jiffy. It's gonna be something that is urgent or this is something that is immediate, could happen over the long term, but like you said, maybe trends for the future that could be explored. Yeah, thanks. Thank you. Just to summarize and leave on a fun note, if you had to think of just one word that plays on your mind when you think of M-commerce or mobile commerce, what is that one word? Quick, this is like. Ease, money, accessibility, convenience, everywhere. Well, that sums it up for us. Thank you so much. Thank you so much for being so spotty, candid, and insightful. Thank you, guys.