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The growth of this online retail format, over the past 5 years, has not just transformed consumer buying behaviour but has also affected emerging and developing countries.
Additionally, with the first two days of the 10-day Diwali Sale, the e-commerce platform has registered a 5X growth in demand products like for LED TVs, 5X growth in 4G smartphones and 10X growth in feature phones.
Furthermore, it is now important for eRetailers to focus on delivering something more valuable, something more personalised and price competitive.
It has been observed that there is a stiff competition between Amazon.in and Flipkart closely followed by Snapdeal and then Shopclues in terms of the rise in their Gross Merchandise Value (GMV).
While some of these models are operated on virtual stores (online marketplaces), there are quite a few that have a physical retail presence.
Despite all these possibilities that mobile wallets open up, Indian still is far away from becoming a cashless economy.
The move by the government is undoubtedly to splurge the demand of unbranded generics and to keep their prices low, but in order to make it used by the mass, doctors and practitioners do need to prescribe them too.
With the rising consumer expectation and fierce market competition, retail brands are betting on consumer loyalty programs to engage well with their customers.
The ministry is now aggressively analysing at all the papers being submitted by the US at WTO on the matter to understand the standpoints mentioned.
Online furniture retailers who aspire to capture the entire country with a significant market share would rather need to revamp their product portfolio, sourcing methodology and the pricing strategies.
Below mentioned are 3 elemental trends that can enable a flawless growth of eCommerce industry leveraging the logistics sector.
Online retailing is here to stay. Currently the industry has growing at its unprecedented best and is soon touted to become one of the strongest key factors to the Indian economy.
Unlike last year, this year's festive season is going to be a mega bonanza and thus many eRetailers have already started hiring more people in order to stand straight on the splurging demand during the tenure.
Transactional fraud is one big barrier that is impeding these service providers to win consumerís trust. Mobile transactions are increasing rapidly, but retaining customers is getting tougher.
With much coherent retail and eRetail policies, advancements in FDI norms and rising preference of digital shopping, eCommerce in India is heading towards its unpredictable best.