Qoruz Diwali 2023 Report: Harnessing The Power of Influencer Marketing in India’s Rs.90,000 Crore Festive Market

Bengaluru, October 19, 2023: As the spirit of Diwali spreads across the country, brands find themselves in a bustling market worth a staggering ₹90,000 crore, filled with promising opportunities. Today, Qoruz, the leading influencer marketing platform, unveils its comprehensive Diwali 2023 Report, revealing the interplay between consumers and influencers.

The report provides valuable insights into the impact of influencer marketing on brand promotion during the festive season.

Key Highlights

• Collaboration Trends: Over the past two years, there has been a remarkable 21% increase in influencer collaborations, reflecting the strengthening of partnerships between brands and influencers. Brands today allocate over ~₹300 crore for influencer marketing during the festive season.

• Engagement with Influencers: A staggering 80% of Diwali shoppers actively engage with influencer-led content, reaffirming influencers’ central role in shaping consumer preferences. Influencer marketing is 1.5x effective on millennials as compared to other age groups like boomers and Gens X and Z.

• Changing Consumer Behaviours: Over the past decade Indian e-commerce has grown by 20x, with a 15x jump in annual transacting user base. This figure spikes during Diwali, with 45% of shoppers anticipating increasing their online spending this festive season.

• Geographical Breakup: 50 million e-commerce buyers come from tier 2 cities and lower, while the remaining 25 million are from the nation’s metros.

Diwali Influencer Campaigns – A Sector-wise Breakdown

The largest influencer marketing spends sector-wise comes from personal care at 20% followed by food & beverage at 16%. Despite this, mobile phones have seen the largest growth in spends during Diwali, up 48% in 2022 compared to 2021.

• Food: Food Influencers from tier 2 & 3 cities have outperformed their tier 1 counterparts. Nano influencers recorded a remarkable 9.49% engagement rate during Diwali 2022.

• Home Décor: Bengaluru emerges as the hub for successful home décor influencer campaigns, with nano influencers boasting an impressive 9.09% engagement rate.

• Fashion: Fashion brands experience heightened engagement, particularly through micro and nano influencers. During Diwali 2022, nano influencers achieved an impressive engagement rate of 7.1%, surpassing their macro and mega counterparts, whose engagement sat at 1.2 and 1.1% respectively.

Emphasising the significance of this report, Praanesh Bhuvaneswar, Co-Founder and CEO at Qoruz, said, “In the dynamic world of influencers, our Diwali 2023 Report underscores the pivotal role of influencer marketing, especially during the festive season. Influencers are poised to be the next significant evolution in the marketing industry. With their innovative thinking and capacity to influence consumer choices, no brand can overlook the impact of influencers. At Qoruz, we’re proud to lead the way in facilitating these connections.”

Marketing Strategies for Brands to Win Diwali

Influencer collaborations have seen a 21% increase during Diwali over the last two years. This has culminated in more than 67,000 posts across a network of 22,000 influencers, amassing total engagements of 5.3 million and 3.7 million video views.

• Influencer-led content not only resonates with consumers but also garners their trust through authenticity.

• A significant 66% of Diwali shoppers make purchasing decisions based on influencer recommendations.

• User-generated content (UGC) greatly influences 79% of purchasing decisions, underscoring the value of authentic customer relationships.

• Regional language campaigns are effective, as 53% of Diwali shoppers prefer content in their regional language, highlighting the importance of linguistic relevance.

• The maximum impact is achieved through a combination of paid advertisements and influencer campaigns. However, choosing the right influencer for Diwali campaigns is crucial.

“Content marketing through the consumer’s device-agnostic journey will be critical, and in the upcoming festive season, mobile and moment marketing should be a key focus therein. Second, influencers are considered primarily for mid-funnel marketing. However, considering the breakthrough in the creator economy, and related consumer behaviour , this festive season brands can explore a full-funnel influencer strategy to maximise ROI”, shared Chaaya Baradhwaaj, Founder, Managing Director, BC Web Wise.

Commenting on the importance of choosing the right influencer partners, Sooraj Balakrishnan, Head of Marketing, Acer, said, “In the dynamic world of influencers, authenticity stands out. Brands must forge genuine connections, ensuring shared values with influencers. A collective of micro-influencers often resonates more profoundly than a single celebrity, particularly during festive times.”

In India’s evolving digital landscape,the ongoing rise of online shopping is set to be transformed by influencer marketing, becoming an integral part of the festive shopping experience for years to come.

Mithaicana’s Sweet Sensation Sweeps Through Bangalore with Grand Store Opening This Festive Season

India, 19th October, 2023 – In a sweet endeavor this festive season, Mithaicana, a brand committed to preserving the rich flavors – classic to contemporary Indian sweets, launched its first retail sweet shop and experience store in Bangalore. Nestled in the heart of Marathahalli, Bangalore, the outlet aims to rekindle the original tastes and cherished memories associated with authentic Indian sweets.

A glorious paradise with 250 delectably diverse Mithai options, beautiful decor, and 50 types of Indian sweet gifting, the outlet takes pride in providing a one-stop shop for all celebrations. Amongst its standout offerings are Kaju Katli, Motichoor Laddoo, Rasgula, Rasmalai, and Mysore Pak, each meticulously crafted to perfection. Each bite is a journey back in time to the nostalgic tastes of our traditions.

Mithaicana, the custodian of timeless to trendy Indian sweets and flavours, is not only celebrating its grand entry into Bangalore but also setting its sights on a dynamic expansion plan in the coming months. In the coming 18 months, the company aims to open 5 more outlets strategically positioned throughout Bangalore, ensuring the city can savour the authentic essence of our Indian sweets.

In the next phase of its expansion, Mithaicana is targeting the vibrant markets of Mumbai and Pune regions. These cities, known for their diverse culinary preferences, will soon experience the enchantment of Mithaicana’s transitional sweets.

When discussing the inaugural of the Bangalore outlet, Ashwani Jasti, Founder of Mithaicana remarked, “I am thrilled to bring the sweet traditions of India to the vibrant city of Bangalore with the launch of our first Mithaicana shop. What sets Mithaicana apart is its unwavering dedication to utilizing local and natural ingredients, like pure ghee, milk, etc. in crafting its sweet delicacies. Mithaicana is not just about sweets; it’s about reliving cherished memories, and I cannot wait for everyone to experience the magic of our culinary heritage! We hope to carry the traditional flavours across every nook and corner of the country and grow the delight of authentic Indian sweets in India.”

To enhance the festive celebrations, Mithaicana has introduced customizable pre-orders, adding a sweet touch to your special gatherings. With Dussehra just around the corner, the brand is delighted to announce that orders are now being accepted, so you can infuse sweetness into your upcoming celebrations!

Screenzy Transforms Cab Rides into Unforgettable Experiences for Underprivileged Children during Durga Puja

Kolkata, 19th October 2023: Screenzy, the innovative travel companion application, continues to make a positive impact on the community with their Durga Puja Campaign- ‘Cab e Boshe Durga Darshan’. On October 18th, Screenzy embarked on a heartwarming mission, taking 15 underprivileged children from the Roddha, a well-known non-profit organization, on a delightful Pandal Hopping adventure in their specially adorned Screenzy Cabs. This special journey allowed the children to explore some of Kolkata’s most iconic Durga Puja pandals, including the Ballygunge Cultural Association, Tridhara Sammilani, Singhi Park Sarbojanin, Ekdalia Evergreen, Hindusthan Park Sarbojanin, and Samaj Sebi Sangha. Each pandal visit provided the children with a unique opportunity to immerse themselves in the vibrant spirit and cultural heritage of Durga Puja.

This exceptional initiative, organized by Screenzy, aimed to provide these children with unforgettable memories that will stay with them for a lifetime. As part of this endeavour, Screenzy in collaboration with Max Fashion and Doff Estates ensured the children’s comfort and well-being during the journey by supplying food packets, ensuring a seamless and enjoyable experience. Screenzy’s commitment to community engagement and creating memorable experiences for the less fortunate is evident through initiatives like this. The company remains dedicated to transforming ordinary cab rides into extraordinary moments that touch lives and create lasting memories.

Arka Ganguly, Founder of Screenzy, shared his thoughts on the initiative, stating, “Screenzy is deeply committed to offering more than just convenient travel experiences; we are committed to making a meaningful difference in the lives of those we serve. We were thrilled to collaborate with Roddha, Max Fashion and Doff Estates to provide underprivileged children with a memorable Pandal Hopping adventure during Durga Puja. Our goal is to spread joy, happiness, and a sense of belonging in the communities we operate in, and this initiative reflects our ongoing dedication to that mission.”

Cross border fintech platform HiWi raises Rs. 7.25 crores led by Unicorn India Ventures

Mumbai, 19th October 2023: HiWi, a global cross-border remittance fintech, has successfully secured INR 7.25 crore in a pre-seed funding round, with Unicorn India Ventures and the Unmaj Group Family Office leading the investment. The capital injection is earmarked for advancing product development and executing a strategic go-to-market rollout.

Headquartered in Mumbai, HiWi was co-founded by Dewang Neralla, a seasoned fintech entrepreneur and the former Founder and CEO of Atom Technologies, alongside Geeta Chauhan and Ujwal Tamminedi, accomplished professionals in the information technology and services sector.

The contemporary cross-border payment landscape is plagued by issues such as opacity in exchange rates, exorbitant forex margins, and documentation challenges. HiWi’s mission is to streamline these processes across various sectors, including Study Abroad, Trade & Finance for SMEs, and industries confronted with intricate procedures.

HiWi’s inaugural offering is geared towards simplifying remittances for students studying abroad. The platform serves as a centralized and integrated solution for both study abroad agents and students, offering a comprehensive suite of financial services. This includes a user-friendly mobile application for students to transfer funds, open foreign bank accounts, access financing options, manage card expenditures, and accrue loyalty points, all while ensuring compliance with regulatory requirements.

HiWi aspires to assist more than 25,000 students in remitting USD 100 million by March 2025 and aims to onboard 5,000 educational consultants onto its platform.

Dewang Neralla, Founder of HiWi, expressed his gratitude, stating, “I would like to thank Unicorn India Ventures and Unmaj Group for having confidence in HiWi’s vision to make cross-border remittances accessible and convenient for all stakeholders. Although our initial focus is on education, we plan to expand our services to cater to SMEs, further streamlining and enhancing the remittance process.”

Commenting on the fundraiser, Anil Joshi, Managing Partner, Unicorn India Ventures, says, “Foreign education is an ever growing market. At Unicorn, we have studied this segment and made investments both in study abroad and fintech companies. HiWi is combining the power of tech and addressing a much needed gap of facilitating cross border payments that are easier and convenient for both the parents and students. The company is starting with foreign admission but the product stack will be leveraged for other use cases post foreign admission, The future offerings canvas in this segment will give immense growth opportunities to HiWi.”

Shri Gauranga Das Prabhu Wins Dalmia Bharat Rural Development and Infrastructure – CSRBOX CSR Impact Award 2023

New Delhi, 19th October 2023: Shri Gauranga Das Prabhu ji on behalf of Govardhan Ecovillage has been awarded the prestigious Dalmia Bharat – CSRBOX CSR Impact Award 2023 in Rural Development and Infrastructure. The award ceremony was graced by the presence of esteemed dignitaries, including Mahendra Singhi, Managing Director & CEO, Shri Banchha Nidhi Pani (IAS), Commissioner, Commissionerate of Technical Education, Government of Gujarat; Shri Naveen Kumar (IAS), Revenue Secretary/Relief Commissioner, Government of Uttar Pradesh; and Swati Munjal, President, BML Munjal University, who felicitated the awardees.

Curated by CSRBOX and NGOBOX, the India CSR Summit and ESG Forum is Asia’s largest CSR and Sustainability Forum, which brings together leaders from across the social impact spectrum to explore and discuss the evolving landscape of corporate social responsibility (CSR), sustainability, and social impact. The two-day event featured insightful panel discussions, informative keynote speeches, interactive workshops, and engaging networking opportunities and was enlightening for all those interested in the CSR and sustainability space.

Shri Gauranga Das Prabhu Ji has achieved remarkable success through his groundbreaking contributions to rural development and infrastructure. His work exemplifies an unwavering commitment to creating a lasting and meaningful social impact, perfectly aligned with the vision of the CSR Impact Awards.

Shri Gauranga Das Prabhu ji said “We are deeply humbled to receive this prestigious honor. It serves as a testament to the unwavering dedication and passion of our rural development team at Govardhan Ecovillage in making a positive impact on the lives of those we serve. We express our heartfelt gratitude to CSRBOX and Dalmia Bharat for acknowledging our endeavors and for their support in realizing our vision of building a more equitable and inclusive society”.

The 9th Dalmia Bharat – CSRBOX CSR Impact Awards acknowledges and celebrates groundbreaking and sustainable projects across various thematic areas. The sector’s premier awards are a testament to the commitment and innovation displayed by organizations and individuals in the realms of CSR and sustainability.