Key Points
The influencer marketing industry in India is all set to become more lucrative as it is estimated to hit Rs 3,375 crore by 2026 at a compound annual growth rate (CAGR) of 18 per cent..
Influencer marketing in India is expected to grow by 25 per cent in 2024 from 2023, hitting Rs 2,344 crore versus Rs 1,875 crore last year, according to EY's Collective Artists Networks Big Bang Social Report...
This can be attributed to the time that smartphone users spend on various social media platforms..
The marketing tool has gained massive popularity in the recent as 75 per cent brands are expected to consider influencer marketing as part of their marketing strategy..
Influencers are stepping in to provide guidance, reassurance, and advice, effectively assuming the role of contemporary heroes. Coupled with the projected growth in influencer marketing, it's clear that influencers now define an unprecedented era of knowledge and impact, while also unlocking vast opportunities for brands and marketers..
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