Uploaded on Apr 14, 2021
Online retailing is largely propelled by India's increasing internet penetration year after year. As per the Global System for Mobile Communications (GSMA), the overall number of online shoppers will hit 92 crores by 2025, resulting in an increase in e-Commerce and m-Commerce. In addition, with the growing penetration of mobile devices, digital payments in India are now on the rise, accounting for 80 per cent of all online transactions. Increasing disposable income and an increase in the Gen Y population are both important factors.
Rising Trend Of Online Retailing
Rising Trend
Of Online
Retailing
G o b a z z a r
Major online marketing efforts and discounts by e-tailers indicate that retail has reached a new age in which
e-Commerce and technology behemoths such as Amazon, Alibaba, Apple, Google, and Microsoft have carved
Introduction out new territory for customer preferences. The online shopping market is expanding due to the proliferation
of the internet and the increase in smartphone access.
Online retailing is largely propelled by India's increasing internet penetration year after year. As per the Global
System for Mobile Communications (GSMA), the overall number of online shoppers will hit 92 crores by 2025,
resulting in an increase in e-Commerce and m-Commerce. In addition, with the growing penetration of mobile
devices, digital payments in India are now on the rise, accounting for 80 per cent of all online transactions.
Increasing disposable income and an increase in the Gen Y population are both important factors.
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Some main developments that are causing a fundamental change in India's online retailing industry include:
Price Comparison
Platforms
With aggressive competition in almost every industry,
there’s no doubt that companies keep releasing new
features in their products at better prices. For example, if
you’re purchasing a tablet, should you purchase from
Samsung or Apple? With so many different products, it can
be difficult to find the right product. But, with the help of
price comparison websites, you can easily compare the
features and value of money for each product easily.
04/14/2021
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Technology Adoption
Chatbots, video sale, image search, sharing cart, facial
recognition payments, and image/voice search innovations
have all been part of an online shopping experience in
India, as the nation has become an early adopter of global
technology trends. Chatbots on corporate websites provide
a more customized consumer experience. Product
recommender systems and virtual assistants benefit from
artificial intelligence (AI) and machine learning (ML). Virtual
reality (VR) allows for a more engaging retail experience
both in-store and online. Furthermore, the use of
blockchain technologies provides digital integrity while also
lowering transaction costs.
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Digital Payments
Owing to a lack of confidence and security issues with online payments, cash
payments have historically been the most favoured mode of payment in India. Even
then, with a sizable young population having mobile access, online wallets are on the
rise and are projected to account for 80% of all transactions by 2025.
04/14/2021
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Subscription Services
Subscription packages are an important way for e-commerce businesses to create a loyal client base. It
brings value by bringing potential customers close to their own website. According to business
technology trends, tailored subscription platforms will begin to dominate online shopping.
Online marketplaces such as Flipkart and Amazon have launched reward schemes in the form of points
that can be turned to cash on subsequent orders. Amazon's monthly and yearly subscriptions, known
as Prime, improve the consumer experience by including benefits such as first priority for new product
releases, quick and free shipping, and many more.
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The Future
• Retail's future is largely reliant on online
platforms. Other than metros, Tier II and Tier III
areas in the metropolitan market has the highest
penetration capacity for online consumer goods.
The commercial electronics and appliances sector
dominates the overall online retailing industry.
More consumers are assumed to engage in online
shopping in the following years. So, if you’re
looking for the best online shopping experience
in the UAE, you should consider visiting GoBazzar
today.
04/14/2021
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Thank you!
Gobazzar
Email: Phone: Website:
[email protected] +971 4 572 4774 https://www.gobazzar.com/
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