What is The Future of eCommerce in India
E-commerce refers to the selling and buying of services and goods or the transmission of data and funds through the Internet. There has been a constant growth in ecommerce, which is promising a bright future for ecommerce in India.
Table of Contents:
1. Here are some of the reasons why ecommerce grows
2. Huge Number of Internet Users
3. Logistics and Payment Gateways
4. Increase in the Number of Middle Class People Who Have Disposable Income
5. eCommerce is Easy to Start and Run
6. Lots of User Experience
7. The Ways in Which E-Commerce Is Expected to Change in the Next Five Years
8. Everything on Mobile
9. Same Day Delivery
10. Touch-Based Experiences
11. Open Real Estate
Here are some of the reasons why ecommerce grows:
Huge Number of Internet Users
Over 100 million people in India use the Internet every day, which is increasing the number of people who are knowledgeable about web services. In addition, online travel agents like MakeMyTrip have managed to convert Internet users to consumers. The number of companies like MakeMyTrip is increasing in India and slowly dominating the ecommerce industry.
Logistics and Payment Gateways
Lack of proper infrastructure to support immature businesses is one of the major challenges facing the ecommerce industry in India. High unreliability in the logistic companies and complicated interstate regulations lead to paperwork and logistics to be the same as international customs in the future. Furthermore, Indians are not very friendly to the idea of using credit cards; only around 2 percent of the whole population uses them.
The gap between the rich and the poor has been there for centuries in India. There has, however, been an increase in consumers who are globally minded due to the rise of foreign direct investments, medium and small enterprises, and some of the most powerful multinational corporations in India. These corporations and enterprises have contributed significantly to the creation of employment opportunities in India, hence improving people’s living standards.
eCommerce is Easy to Start and Run
You can find it challenging to set up the product you want to deal with, but you can make it easy by specializing in a product you’ve used before and that you are passionate about. Trading a product that has helped you before makes product sourcing and building customer relations easier.
Most companies in the ecommerce industry are investing more into user experience. Ecommerce has gone international due to factors like customer service, merchandising, user interface design, return policies, and guaranteed delivery.
The Ways in Which E-Commerce Is Expected
to Change in the Next Five Years
The Ways in Which E-Commerce Is Expected to Change in the Next Five Years
The growth of ecommerce in India is expected to increase by approximately 1200% before 2026. This percentage is a huge rise considering that ecommerce in 2016 was at $15 million, which will increase to about $200 billion. Amazing, right? This increase will undoubtedly brighten the future of ecommerce in India.
Here are some of the ways in which ecommerce is expected to change within the next five years:
Everything on Mobile
Traffic on mobile sites is greater than that that of desktop sites by about ten times, which means the ecommerce industry is likely to focus even more on handheld devices in the future. There is, therefore, going to be huge competition as brands try and come up with the unique mobile experience that will lead to a new ecommerce industry era.
Same Day Delivery
The ecommerce industry is expected to be more flexible and reliable when it comes to same-day delivery, which means you can order something online and receive it that same day. The courier service WeFast has already started offering this service to its customers. WeFast has a both mobile application and a website where you can order a delivery of any goods by their courier service. It has made the user experience in their app and on their site seamless.
One thing that makes WeFast outstanding is the way they assign their best courier near you to deliver your ordered goods. That explains how they manage to deliver any ordered product within a maximum of 90 minutes as their couriers are always available and reliable. You’re also not required to sign any contract with them to get your goods delivered. All they need is your number and the number of the person they’re getting the goods from before delivering it to you. A WeFast courier then notifies you at each delivery point to assure you that your goods are not lost. If more companies in the e-commerce industry follow this example, the growth of the industry will be tremendous.
The bar has been raised for user experience and augmentation by the presence of mobile devices, with people owning multiple devices. It will be an easy task to introduce touch experience in handheld devices, as most of them are touch operated.
Augmented reality can help the user touch the device, feel it, and move it. Buyers in the market judge devices by how flat the provided images are. These images will be changed to 3D within five years, which will allow you to see objects as if they’re just in front of you.
Advances in amplified reality started with the introduction of Siri and are continuously being escalated by technology. Top players in the ecommerce industry like Google’s Home and Amazon’s Echo have also started to be accepted in this segment even though the prices are steep at the moment.
The future of this science being more dominant and effective on the next five years will be determined fully by the public as they’re the ones to decide if they see it being helpful to their daily lives or not.
Countries like China and Japan have already started using this advance in technology. Companies are expected to be using delivery drones within the next five years. Using drones to deliver packages will reduce delivery fuel costs.
These top fifty business ideas are indeed proof that you can start earning money on a small scale. You can start them with your savings or by getting soft loans from lenders such as cooperative societies that charge small interest loans. You must also plan to be successful before starting on the business. You can get expert advice from other people who have the same business type and are thriving. Through small business ideas, you will surely reach your dreams and aspirations.