The Asia-Pacific region has seen an online boom over the past decade, particularly in e-commerce.
In fact, this part of the world has the largest online market globally and high levels of growth in the eCommerce market, India has had a lot to do with this.
According to experts, India’s total online sales are forecast to exceed $100 billion in 2020, putting us in the top three in the world.
E-commerce has been the biggest game changer for the Indian economy and it continues to develop as we rapidly adopt modern technologies. Various aspects like wide range of inventory, convenience, service, fruitful bidding, cash on delivery, free freight, hassle-free return procedures, reliable and convenient purchasing system linked with profitable bidding have started the explosion of online shopping in our country. According to a statement from Google and Forrester Consulting, the number of online shoppers will roughly triple by 2020, with more than 50 million new customers rising from Tier I and Tier II cities.
The nation has been taking advantage of the e-commerce boom due to the strong internet penetration backed up with reasonable data charts and the sheer availability of smartphones. The coming years will see impressive discoveries in e-commerce and bring exciting and hassle-free shopping adventures.
The Rise of Private Labels: All the major e-commerce giants will feature their personal brands. They will start producing their own products and aggressively sell them within their portal while simultaneously trading other brands.
Mobility: Every person, who is also a potential buyer, wants to accomplish tasks on the go! From paying utility bills to shopping for food or clothes, every job can be managed online.
With smartphones and other portable devices ruling the tech society, e-commerce owners are finding that embracing mobility is quite effective. In a nutshell, mobility is steadily becoming an extremely important aspect of e-commerce.
Automation: Mobility trends can drive efficient automation of various methods. Members of the e-commerce platform can allow automatic payment, billing and advertising options to their customers. Highly engaging and impressive apps are also of the utmost importance as they encourage and promote on-the-go trading like never before!
Technology – Every player in the business will try to go beyond the standards and produce a distinguished identity for themselves by constantly expanding new and better ideas that will further enhance the interface and the shopper experience.
Acquiring new technology: Every player in the business will try to exceed the standards and produce a distinguished identification for themselves by constantly expanding new and better ideas that will further enhance the interface and the shopper’s experience.
Drone delivery: Organizations have kept working to invent the delivery method to reduce human energy and time. The solution to these difficulties is Delivery by Drones. DGCA is now speeding up the process of announcing guidelines for the use of drones for civilian purposes in India. If all goes according to plan, India could become the first nation in the world to recognize the use of drones for civilian purposes.
Artificial Intelligence: As the e-commerce arena becomes saturated, investors looking for an innovative application of technology are turning to corporations developing artificial intelligence (AI) solutions.
So what is it now?
There is no suspicion that businesses in all areas can greatly benefit from increased revenue and productivity gains with online proximity, but there still seems to be hesitation on the part of most to fully embrace it. There is still a complete lack of awareness of these interests and concerns regarding the value of the facility and the cost of ongoing maintenance.
With the extensive use of social networking sites and shoppers receiving information, guidance and suggestions through their networks, Indian shoppers are reaping huge savings from online shopping. It’s never been faster or easier to search for commodity information and access a wider range of data, greater product options and lower prices.
The accelerated extension will see barriers to online retail diminish over time for various businesses and consumers. With an increasing number of companies allowing to help retailers establish an online presence, it will soon become a no-brainer.
Users are now experiencing mobile internet and making purchases on their smartphones. Local retailers gain profit gains from online proximity and will suffer if they are not prepared to deal with competition from offshore producers.
