“With large scale global investments, growth of niche category e-commerce firms and the entry of global competitors/brands, e-commerce landscape in India looks very promising.”
– Sachin Bansal, Flipkart co-founder and CEO
A recent study by Motilal Oswal Securities states that it is estimated that the e-commerce market in India will reach Rs 124 thousand crore by 2015, growing at a CAGR of 37% over 2013-15. This will undoubtedly provide an ocean of opportunities to online sellers. Here are five e-commerce trends that every online seller should watch out for.
Lack of infrastructure and logistics network are the biggest hurdle for the growth of e-commerce in India. But massive investments by big e-commerce companies in this area will soon remove these hurdles from e-commerce’s road to success. e-commerce companies are now approaching a new mode of operations where the primary focus is on the seamless supply chain management.
- Using E-Commerce, organization can expand their market to national and international markets with minimum capital investment. An organization can easily locate more customers, best suppliers and suitable business partners across the globe.
- E-Commerce helps organization to reduce the cost to create process, distribute, retrieve and manage the paper based information by digitizing the information.
- E-commerce improves the brand image of the company.
- E-commerce helps organization to provide better customer services.
- E-Commerce helps to simplify the business processes and make them faster and efficient.
- E-Commerce reduces paper work a lot.
- E-Commerce increased the productivity of the organization. It supports “pull” type supply management. In “pull” type supply management, a business process starts when a request comes from a customer and it uses just-in-time manufacturing way.
- 24×7 support. Customer can do transactions for the product or enquiry about any product/services provided by a company any time, any where from any location. Here 24×7 refers to 24 hours of each seven days of a week.
- E-Commerce application provides user more options and quicker delivery of products.
- E-Commerce application provides user more options to compare and select the cheaper and better option.
- A customer can put review comments about a product and can see what others are buying or see the review comments of other customers before making a final buy.
- E-Commerce provides option of virtual auctions.
- Readily available information. A customer can see the relevant detailed information within seconds rather than waiting for days or weeks.
- E-Commerce increases competition among the organizations and as result organizations provides substantial discounts to customers.