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    Business Article

    Changing trends and future of Ecommerce in India



    Admin
    Apr 12, 2021

    '

    E-commerce has transformed the way business is done in India. But due to the pandemic, not needless to say, 2020 didn’t exactly turn out as planned. The induced lockdown led consumers to dramatically change their shopping behavior, and companies were forced to invest more heavily in their existing ecommerce channels or go online for the first time. The sector saw big upsides from new online shoppers, existing shoppers buying more food and grocery, and mature shoppers moving more of their spending to online platforms. With the upcoming trends, Ecommerce is now a part and parcel of every individuals life.

    Recent trends observed in Ecommerce are as follows:

    Improved online purchase platform: Instead of a secondary or alternate in-store process, websites have become the primary buying path for many products. Ecommerce houses now must go beyond their daily norm and innovate their platforms by introducing more features, advancing in technology and making fruitful partnerships.

    Rapid customer research: Customer research is at the heart of experience innovation. Companies must now respond to consumer demands with a solid emphasis, which includes incorporating customer analysis into the phase. Mr. Steve Borges, cofounder of experience design agency Biglight, has also highlighted the need for profound customer customer research for retailers who seek to keep pace with constantly changing customer preferences and behaviors. “Retailers are operating in an environment where change is the only constant,” he points out. “That means innovation in the realm of customer experience is going to be more important than ever. But brands must also adapt with a surefooted focus on customer needs, which means embedding customer research throughout the process—from concept to design.”

    Online in-store Experience: Customers will be more welcomed to new ways of searching for, purchasing, and comparing products.  One new trend which is making customers purchase experience unique is of Virtual services that enable the clients to see how their fabric looks in their real room before adding it to their basket. Shopify Plus merchant “The Sheet Society” has embraced this with their AR-enabled Bed Builder, allowing customers to visualise how their linen will look in their actual room before adding it to their cart.

    Personalisation of omnichannel marketing and extending loyalty programs: previously, loyalty programs were applicable only to physical store visits, but this has changed now. Customers are rewarded with offers and loyalty points for their online purchases. This experience contributes to building a deeper connection with the customer, meeting them where they want to shop with.

    Connect using social commerce: Social commerce uses networking websites such as Facebook, Instagram, and Twitter as vehicles to promote and sell products and services. Social ecommerce startups such as Meesho, DealShare and Bulbul are leading the way. Meesho has created an alternative distribution channel for homemakers, small entrepreneurs, teachers, and students to sell goods on through WhatsApp, Facebook, Instagram, and other social media platforms. DealShare uses WhatsApp platform, were users can get fruits and vegetables, grocery items, beauty and wellness products, and all other household essentials at daily discounted prices. Social commerce startups are making merry as rising smartphone usage and low data costs have created a market of millions of first-time internet users in India.

    Diversify payment options:  Digital Payments like google pay, Paytm, Phone pay have now surpassed the credit card payments for the first time. Funding strategies for more aggressive retailers running numerous financing opportunities would become a must-have feature. As a payment mechanism ideal for more than just the dark web, we can also see cryptocurrencies finally legitimized.

    Develop creative advertising strategies: As seen, much more 3D and Computer Generated Imagery (CGI) is now used in advertisements, especially in the beauty industry, and this growth is projected to continue in the new year. Brands are also trying to close the gap between the online look and feel of the product and its physical appearance. Technology has aided this through innovations such as 3D imageries, refine digital texture and colour palette. Jewellery brands invested in technologies that can help the retailers and e-platforms to customise designs, do online virtual trials on a real-time basis.

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