Future of Digital - The Indian Context
E-commerce market in India is expected to quadruple to US$60-70 billion over the next 5 years, driven by a much faster growth in goods than services.
One of the major reasons for this trend can be attributed to the fact that internet users in India are expected to triple from ~200 million to ~600 million, induced by a proliferation of smartphones’ usage from 120-140 million to 600-700 million during the period of 2014-2020. Furthermore, the service providers have lowered their offering cost and improved service quality, which in turn, has lead to an expansion in the customer base attracting subscribers from lower-tier cities and rural areas owing to investments in network infrastructure.
Customers are attracted to e-commerce because of superior value proposition on several counts, namely
The growth in e-commerce, in addition, is aided by efforts of players to develop payment channels (cash on delivery, mobile wallets) and streamlined logistics infrastructure.
Key Implications for Indian Retailers:-
It’s imperative for organizations to invest in formulating a Digital strategy that is in line with the overall business strategy. For organizations that still think of Digital as just another marketing tool that eats up budget, the days are limited. A holistic approach towards digital is not only meaningful but necessary.
We @speradigital pride ourselves on providing a tailored digital strategy that assists our clients in establishing their options, defining their project needs and managing project delivery. Our consultants are passionate about supporting businesses and entrepreneurs to make the most of their online presence. This includes building awareness, generating leads and increasing sales - while providing analytics and statistics to show ROI.
To know more about how having a spera consultant in your team can help you please click here
One of the major reasons for this trend can be attributed to the fact that internet users in India are expected to triple from ~200 million to ~600 million, induced by a proliferation of smartphones’ usage from 120-140 million to 600-700 million during the period of 2014-2020. Furthermore, the service providers have lowered their offering cost and improved service quality, which in turn, has lead to an expansion in the customer base attracting subscribers from lower-tier cities and rural areas owing to investments in network infrastructure.
Customers are attracted to e-commerce because of superior value proposition on several counts, namely
- broader assortment
- higher discounts
- greater convenience
The growth in e-commerce, in addition, is aided by efforts of players to develop payment channels (cash on delivery, mobile wallets) and streamlined logistics infrastructure.
Key Implications for Indian Retailers:-
- Proactively conceptualize and execute a digital strategy with clarity on why shoppers purchase online
- Smartly leverage social media to drive word of mouth
- Design a seamless and connected customer journey as shoppers migrate across channels
It’s imperative for organizations to invest in formulating a Digital strategy that is in line with the overall business strategy. For organizations that still think of Digital as just another marketing tool that eats up budget, the days are limited. A holistic approach towards digital is not only meaningful but necessary.
We @speradigital pride ourselves on providing a tailored digital strategy that assists our clients in establishing their options, defining their project needs and managing project delivery. Our consultants are passionate about supporting businesses and entrepreneurs to make the most of their online presence. This includes building awareness, generating leads and increasing sales - while providing analytics and statistics to show ROI.
To know more about how having a spera consultant in your team can help you please click here