The Asia-Pacific region has experienced 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 e-commerce market, India has had a lot to do with this.
According to experts, India’s total online sales are predicted to exceed $100 billion by 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 embrace modern technologies. Various aspects like wide range of inventory, convenience, service, fruitful deals, cash on delivery, free freight, hassle free return procedures, reliable and convenient shopping system linked with profitable deals 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 in 2020, with more than 50 million new customers increasing 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 with reasonable data charts and the sheer availability of smartphones. The coming years will see impressive discoveries in e-commerce and bring interesting and hassle-free shopping adventures.
The rise of private labels: All the major e-commerce giants will present 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 perform tasks on the go! From settling utility bills to shopping for food or clothing, every job can be managed online.
With smartphones and other portable devices ruling the technological society, e-commerce owners are finding that embracing mobility is quite effective. Simply put, mobility is constantly becoming an extremely important aspect of e-commerce.
Automation: Mobility trends can drive efficient automation of various methods. Ecommerce platform members can enable automatic payment, billing, and advertising options to their customers. Highly attractive and impressive apps are also of paramount importance as they encourage and promote trading on the go like never before!
Technology – Every player in the business will try to go beyond the standards and produce distinguished identification for themselves by constantly expanding new and better ideas that will further enhance the interface and shopper experience.
Acquiring New Technology – Every player in the business will attempt to exceed the standards and produce distinguished identification for themselves by constantly expanding new and better ideas that will further enhance the interface and shopper 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 space becomes saturated, investors looking for an innovative application of the technology are concentrating on corporations developing artificial intelligence (AI) solutions.
So what is it now?
There is no suspicion that businesses in all areas can benefit significantly from increased revenue and increased productivity with online proximity, but there still seems to be hesitancy on the part of most to embrace it fully. 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 extensive use of social networking sites and shoppers receiving information, guidance and suggestions through their networks, Indian shoppers reap huge savings from shopping online. It’s never been faster or easier to search for commodity information and access a broader range of data, greater product choices, and lower prices.
The accelerated extension will see barriers to online retail lessen over time for a number of businesses and consumers. With an increasing number of companies making it possible 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 with online proximity and will suffer if they are not prepared to face competition from offshore producers.