Updated: Oct 09, 2020 16:00 IST
New Delhi [India], October 9 (ANI/NewsVoir): As the COVID-19 pandemic has modified our lifestyle, each at work and at residence, most companies have modified their present methods to adapt to the present market setting.
Woovly, a profitable start-up, which earlier was a one-of-its-kind journey experience-platform the place one might create a bucket listing for themselves, or be part of comparable communities, has now redefined itself, matching tempo with the brand new regular.
The platform revamped its format, contemplating the pandemic and its ongoing penalties and redefined its identification as a social commerce platform which helps customers to buy immediately by way of AI-driven brand-tagged consumer generated content material.
Woovly, the social commerce platform combines Discovery, Shopping, and Purchasing into one seamless buyer journey that begins and ends on the social ‘shoppable’ content material.
While the social commerce app focusses on Fashion, Beauty, Lifestyle, DIY and so forth., customers obtain the Android app and create their profile web page that curates’ images/movies of clothes ensembles primarily based on their favourite manufacturers.
From there, they’ll add images/movies of their very own outfits and equipment – with tags that hyperlink to the manufacturers they love and share data on the place to purchase them – or peruse the platform’s different content material to buy themselves.
Their uploaded content material generates loyalty factors with the manufacturers they put on, in order that they’ll redeem their “Social Credits” they’re placing on the app. Users can type by Brand, Retail or Category, and the Technology tracks information from the product photographs, movies, user-clicks and interactions.
Using Artificial Intelligence, the Woovly app has been skilled to mechanically acknowledge Clothing and Fashion equipment in an uploaded image or a video, making the customers’ brand-tagging course of straightforward.
As per specialists, the market analysis information confirms that the social commerce sector will develop to USD 100 billion from the present USD 1 billion by 2025 in India.
These numbers are on the highest of the present e-commerce which can worsen to USD 200 billion alternatives by 2025. Thus, reinventing Woovly whereas giving it a brand-identification context appears to be a brand new path main it to success because the platform concurrently helps content material creators and artists.
Since July 2020, Woovly has seen a surge within the variety of customers, content material and types. There has been 200okay+ brand-tagged consumer generated content material by way of 2.6 plus million customers.
Some of the globally famend manufacturers being Nike, ZARA, SUGAR Cosmetics, CROCS, amongst many such. All the tags generated by the customers’ content material is what makes them “SHOPPABLE”. Woovly has kickstarted its income with an annualized run price of Rs 6 Crores.
Along with the globally well-known manufacturers, Woovly has collaborated with 30 plus Direct-to-Customer (D2C) manufacturers. By March 2021, Woovly is wanting ahead to companion with at-least 500 plus D2C manufacturers, and assist them generate leads and gross sales by way of its AI-driven Brand-tagged user-generated content material.
Woovly has raised USD 2.5 million within the pre-series A spherical from SOSV – VC fund primarily based from New Jersey and Duane Park, household workplace in India.
“The breakthrough idea of social commerce via AI driven brand tagged UGC is consumer-to-consumer-to-brand (C2C2B), moderately than simply one other manner of conducting B2C commerce,” stated Venkat, CEO, Woovly, whereas commenting on the relaunch.
“Here we have, one user who inspires the other to shop socially, all at one click. Woovly empowers everyday users to be rewarded for the content they create, and share while serving as free influencers for their favorite brands, and products,” stated Neha Suyal, CTO & COO, Woovly, talking in regards to the options.
With this new pivot, the crew at Woovly is all geared as much as seize their market share of the subsequent USD100 Billion market alternative within the Social Commerce area.
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