Emerging trends in India.
Indian’s are considered to be vastly changing and highly adaptive in accepting the changing trends. The one of the major change that registered in past few years will be the emergence of e-commerce market globally and India is also a big part of this change. The e-commerce simply means the breakdown of old methods of buying and selling and replacing it with a new way of doing business online. The e-commerce got a positive and huge response from the Indian consumers and in past few years, tremendous growth in the Indian e-commerce sector can be registered. According to the Google and Forrester Consulting, the number of online shoppers will nearly triple and reach 100 million in 2016, with over 50 million new buyers emerging from tier I and tier II cities.
The e-commerce has been blooming very fast in the India and if we look at the e-commerce scenario in the Indian market for upcoming few years, one can accept numerous pictures. But according to the few prevailing trends, it can be accessed that the e-commerce is going nowhere in near future and on the contrary, it’s going to grow even more.
The factors increasing the e-commerce in India:
Indians have heavy pockets.
The Indian folks are getting richer day by day and they are ready to spend money on the lifestyle goods more as compared to the past. According to a report released last year by Economic Intelligence Unit, India is leading in the race to riches among 32 countries. So, with the more job creation and global exposure Indians are getting more financially stable.
More utilization of Smartphone & Data.
As per a recent report by Morgan Stanley, India is adding three new Internet users every second. Internet penetration connects players, enables transactions and thus enables retailing in a decentralized manner. The smartphone consumption in India is far more than the developed nations, so these factors are globally increasing the access of the Indians.
The Prime Minister Narendra Modi’s ‘4 Ds’ and more economical policies for the digital India enhancement is playing a major role in the growth of e-commerce in India.
Future trends of e-commerce!
- The e-commerce will be improved over the course of time and the prompt delivery system will be encouraged.
- The retails will use multiple channels in the future in the Indian market to grow. For example, Forever21 which has stores all across India recently marked their online presence. This omnichannel retailing will enhance sales and amplify reach amongst the target audience.
- The innovation sustains the technology and new innovations that will take place in the future will more intensify the e-commerce growth. For example, e-tailers will introduce features like click and collect kiosks, augmented reality stores and retail on the wall, etc.
- The shopping locker system will be introduced in the near future and the burden of receiving delivery will be solved.
After getting familiar with the factors affecting the e-commerce growth in India and the new emerging innovations of e-commerce, that is clear that e-commerce will stay and grow even more in the upcoming future. So, in one line, E-commerce has dynamic future in India!