Meta Partnered Bain & Company for India Report on Generative Impact of Conversational Commerce Powered by Al

Meta collaborated with Bain & Company to create the “Win With Conversations” report, which offers valuable insights into the changing landscape of conversations on digital platforms. The report highlights the transformative impact of AI-powered generative conversational commerce in India.

Key findings from the report include:: :

• Significant increase in digitalization in India, by over 650 million active social media users, but only 30% shop online.
• Only among small merchants 15% formalized small businesses sell online.
• Users strongly prefer to transact via conversational calls, especially for high-frequency interactions such as accessing bank statements, booking travel, and paying utility bills.
• Above 60% large enterprises plan to increase spending on conversation platforms over the next 3-4 years, and 80% they plan to invest in generative artificial intelligence in the next 1-2 years.

According to the report, GenAI-powered conversational commerce will significantly boost business growth in India. Integrating generative AI with conversational platforms is changing the way companies interact with customers, offering more personalized and efficient shopping experiences. Here are some additional observations:

1. Increased consumer reach: GenAI-powered conversational messaging platforms can deliver additional benefits 450 million Indian consumers for e-commerce.

2. A sharp increase in investment: A decisive 60% of large enterprises plan to increase their spending on conversation platforms over the next 3-4 years 80% they plan to invest in generative artificial intelligence in the next 1-2 years.

3. Greater customer engagement: ABOUT 70% of surveyed large enterprises already connect with half of their customers using conversational platforms.

4. Development of the business message: Business news is seen as a key driver of growth, including: 60% With WhatsApp users in India sending messages to the company every week.

The Win With Conversations report from Bain & Company and Meta highlights the potential of conversational commerce to redefine customer engagement and provide businesses with a competitive advantage. As digital adoption increases, leveraging GenAI for conversational commerce will be critical for companies looking to tap into India’s vast, untapped market of online customers.

The report highlights the potential of conversational commerce to engage the next wave of consumers and the importance of businesses adapting to this trend to ensure sustainable growth and customer engagement. This is a clear sign that companies recognize the need to leverage artificial intelligence and conversational platforms to build stronger connections with their customer base.