Future of E-Commerce in India
03rd May 2017
E-commerce has ushered in a seismic shift in the way we do business in the Indian economy. As we rapidly evolve to embrace newer technologies, online shopping has exploded in the last 5 years. As a modern and swanky online e-commerce website development company in India, you aim to stress on facets of inventories, lucrative offers, cash upon delivery and free shipping with seamless return policies along with convenient online and secure transaction systems.
A lot of IT outsourcing companies in India, according to reports by Google and Forrester Consulting, are now venturing into online retail. The number of online shoppers has tripled and reached 100 million in 2016. 50 million new buyers have emerged in tier 1 and tier 2 cities and the speed of expansion is break the neck with Snapdeal, Amazon and Flipkart ruling the roost among India consumers. The numbers are expected to double in the next 5 years.
The country is riding the online shopping wave due to strong internet penetration with cheaper data plans and smartphones. More and more people buy using their smartphones today. The result is a simplified shopping innovation with exciting offers.
Some Trends to See in the Upcoming Years:
1. With e-commerce setting up a path of instant gratification and innovation at the same time, delivery processes are witnessing evolution with a stronger impetus on promptness and quality.
2. Multiple channels will be used to offer seamless and swift customer experience. The presence of Omni-channel retailing is also a strong value proposition in the next 5 years.
3. Top e-commerce companies in India will gradually veer toward launching their own labels and start manufacturing products and sell these aggressively across portals, while selling other brands as well.
Currently, one of the biggest drawbacks of ordering commodities online is that you could miss collecting the delivery when you are not at home. Shopping lockers is a cool trend that will gradually become prevalent and these will help surpass service and offerings available in stores. Its bonanza time for Indian shoppers with a little bit of help of double rainbows from online retail companies!