In the last two blogs we have written about the Problems faced by the companies related to eCommerce in India and the way they have been able to find Solutions. It is commendable to see the changing trend in the population of a country which use to buy each and everything from brick and mortar store are now buying even vegetables online.
With the growth of the nation in the digital field and the changing view point of Indian population, the future of this country’s eCommerce industry looks very bright.
Future of eCommerce in India looks bright:
We have seen whooping growth in the eCommerce industry of India. The future of this industry looks very bright. If this trend keeps on growing in the same manner we can expect India to cross China and USA in the long run. Investments by the business tycoons in several startup companies which are not into traditional business of selling products but are also providing solutions in terms of services are being given lot of importance.
The image clearly depicts that almost 70% of our eCommerce in India is into the travel business. The travel business has in fact given public a relief from standing into long queues for booking tickets. The incredible growth in the fashion industry has also made users jump on to the online portals very quickly mainly because the price offered on several items are astonishing.
It would have been impossible even two years back to imagine that we can even buy vegetables online. With the introduction of the eCommerce companies like BIGBASKET all these things are gaining popularity. The main reason of these company growing in their sector is that they are able to solve the basic problems of the customers. They are able to understand what the customers really need. They have been able to figure out the fact that customers only think about the solution, they don’t even bother if it’s coming from an offline platform or online. Many companies like Zomato, Just Dial, Sulekha began the trend of business in the service industry. All these companies provided services as per the customer requirement in their own areas. Getting houses and searching for flat on rent has become so easy with the introduction of companies like magic bricks, commonfloor.Even travel services of Taxi for Sure, OLA,Uber are one of the smart players and are helping the business of eCommerce in India to reach a new level.
For selling anything we had to approach some dealer to help us sell something or for buying we had to go to some dealers or middle men. These dealers took their commission which was a loss for us. Online Companies like OLX, Quikr, CardDekho came to the centrestage and solved all our problems with not only providing us a platform to sell and buy second hand things but also removing the dealers margin in between. With the services of getting policies, health insurance and online banking being easily available to the general public, life has taken a smooth walk.
Currently, the trend is that irrespective of what business you have, be a store, it should at least have an online presence so that people are aware of it. Awareness about the business is no more restricted to newspaper ads, magazines, radio and television. It has moved into a different zone now and businesses which are learning it fast will survive and the ones which move in late will fall soon.Growth of “M-Commerce” will surely take over the current trend of doing business. The current eCommerce business has moved into developing apps as most of the population is using the internet via the mobile phone. The above picture depicts the reality as well that having a good mobile application definitely helps in engaging more customers.Developing the apps for mobile indeed makes shopping easy and convenient for the users. This helps the business to engage customers to their website and products for a longer period of time.
India’s concern towards modifying the Rules and Policies especially for the startups and eCommerce industry is definitely paying off. Our government laws and policies always keeps the investors away as they have a notion that doing business in India is not about convincing the public it’s about persuading and fighting with the government rules and regulations. But, past is past and future looks bright as the new government has taken some positive steps to help this industry grow and provide fruitful results.
E-commerce in India is sure to grow at a rapid rate but the competition between the businesses have also increased. The most innovative, proactive and creative ones will survive this modern era of online business. The average time of users engaging on a website is currently 4sec and it is predicted to decrease to 2sec in coming years. This means the websites and content that will be most catchy, attractive, user friendly and reach maximum number of people, will be able to keep their users stick to their brand.
We have various people from different online companies providing their views about the future and the present trend of the eCommerce industry.
We believe that in future eCommerce in India will not only be about providing a good user friendly experience to the customers, in fact it will be about providing a delightful experience to the customers.