We Are Living In A Video-First World: Sachin Bhatia, Bulbul TV
A conversation with Sachin Bhatia, the co-founder & CEO of Bulbul TV, on where India’s digital commerce journey is headed, and why social commerce would be an exciting chapter to many high spending categories
Excerpts:
Sachin Bhatia, ex-CMO & Co-founder of MakeMyTrip and the co-founder of TrulyMadly, was travelling to a small town in North India, to consider a use case for dating. Among the several observations he made at the time, one stood out specifically about how people in these markets shopped. He observed that shopping for most Indians was still an interactive and social experience.
“It made me realise India moves in different ways when it shops, within various markets. This is where the thought to make online shopping real, and hence the genesis of Bulbul came into play,” recalled the serial entrepreneur, who launched Bulbul TV in 2019. Gurugram-based Bulbul is a video shopping app that makes online shopping real via video streaming in a language that audiences are comfortable with.
“We are increasingly living in a videofirst world. Consumers today don’t necessarily read product descriptions or briefs. They want this information spoon-fed via video. This audience which was relatively new online, coupled with the increasing demand for new and interesting products, excited me,” says Bhatia.
This proposition to make online shopping engaging and social, while offering consumers the opportunity to discover new products, puts the platform in the social commerce space that is touted as the future online retail.
The Irreversible Change
Bhatia says social commerce is a subset of online retail. While regular or everyday products such as groceries have a place in social commerce from an aggregation/ reseller model. social commerce is more relevant for products where trust, curation, product demonstration, explanation, unboxing are required.
Content is pivotal to Bulbul’s overall strategy, and the platform does significant work with Influencers. In current times, Bulbu itself is ‘discovered’ by audiences due to the mention by Influencers or presence on other social platforms instead of the conventional advertising route.
“There is a strong foundation for ecommerce in India. The likes of Influencers now take this to the next level. People behaviour in social commerce builds on the fact that they are looking at advice or buying from someone they already know or trust, making it a part of their lives.,” states Bhatia.
Bhatia’s comment also alludes to the increased competition in the ecommerce space but as is said about all things potent, the best will make it through and survive.
Speaking on the bigger picture though, Bhatia reflects, “Any ecommerce business be it reseller, social, video is a business of momentum and scale; one cannot build a ‘cute’ ecommerce business. So a social commerce company that emerges will be a third front to Amazon, Flipkart, Meesho and the likes.”
A New India
Product targeting based on audience interest was not new to India, but several dynamics came together to make this a more successful model in the digital commerce context. Among the various ‘growth drivers’, Bhatia listed access to content, and video, as the most important factors contributing to ecommerce’s success in India.
“Five years ago, different audiences consumed different kinds of content depending on media, location and access. Content democratisation, due to digital adoption, has led consumers in smaller markets to have the same aspiration as their counterparts in bigger markets. This in itself is disruptive,” Bhatia remarks.
In India’s digital commerce journey, video is playing an important role. Also, the ‘creator economy’ has become a very integral part of ecommerce. “Influencers or others who are helping in creating content or curating shopping lists of favourite products is gaining traction globally,” states Bhatia.
