Today, American consumers are looking to buy most of their products online, whether they are ordering for daily use or luxury goods like electronics.
They prefer the comfort of ordering what they want from the comfort of home. If you are not satisfied, you have options such as cash on delivery and return.
India’s e-commerce industry is evolving rapidly, with 580 million people using the Internet by 2018 with 70-80% access to the Internet via mobile.
This is an achievable goal due to the prevalence and easy availability of smartphones. As Flipkart, Amazon, and others are conducting a massive retail war to win in the e-commerce field, this field is now more focused.
Entrepreneurs India spoke to e-commerce industry experts about industry growth next year.
Indian youth promoting e-commerce
Most online consumers are young people, so you can quickly place an order with a quick tap on your phone.
Arup Das, RIVERSONG’s e-commerce manager, believes that the increase in users and disposable incomes of Indian youth (under 30) will help the commerce industry and show growth potential in 2018.
“2018 is another milestone for the e-commerce industry. Current e-commerce and hyperlocal attention gives the industry an opportunity for mature growth, expanding customer reach, and sustaining profits, Das said.
Meanwhile, Shanky Kumar, director of Ellemora, believes that Indian e-commerce is just getting started and the maturity stage is still far away. However, given the digital broadcasting in India and the social acceptance of this model, it is believed that 2018 will be a good year for the e-commerce industry.
Pressure increases profits
There is no news that many e-commerce players are suffering from losses due to the significant discounts offered to please their customers. Amigo Sharma, founder and CEO of LigoGroup, who owns and operates the luxurious Escaro Royale quality of life, believes the need for increased profitability has never been greater due to investor pressure.
Sharma believes that it is time for investors who have entered the market to see the return on their investment for more than a decade. Investors wanting to do operations require ensuring higher returns.
“E-commerce executives are under pressure to increase profitability. They understand that it is cheap, superb, fast and just two points are enough. This means that you are considering selling at a slightly higher price to improve quality. resulted in your products and services and saw profits.
Improve consumer services
When you visit player e-commerce social media pages, there are many reviews that satisfied customers are talking about poor product delivery. This is the main reason why players are always looking for improved customer satisfaction.
Sharma says the e-commerce market has begun to invest in efficiency related to delivery, quality of service, and faster fulfillment of products. This is a big factor that will change the game in the industry.
“Consumers are getting more mature as they get older, and we are beginning to understand that convenience is a true game of e-commerce, not just cheap and discounted products,” he said. .
Additionally, e-commerce players are looking for new ways to find new customers. Das says it has helped e-retailers launch omni-channel retailers in recent years to increase their presence in Level III cities, capturing new customer bases and competing with existing physical stores.
In addition, he believes that improving government policy on the digital economy and information and communication technologies will transform the e-commerce industry.