Rise of eCommerce marketplaces in India
Friday, 17 January 2014 | Written by qtriangle |
E-commerce in India is booming, with very strong growth over the past three years and, this year, the sector’s performance will be no different. It is very important that Indian E-stores should accompany the growth to understand market trends and make sure the maximum growth of their E-business.
In order to manage an E-commerce store it is important to understand the current situation of the domestic market, so that it is possible to develop these data using efficient and flexible strategies according to the trends of the digital market. It is a basic requirement to understand and track the investment trends and revenues by sectors in the national e-commerce for developing an efficient E-commerce planning.
The product and market success factors related to the rise of E-commerce marketplaces in India include the proper strategy and appropriate selection of products, finding the products that fit the buyer’s profile and much more. The ability to understand and estimate and predict market demand and market segmentation, however, is always important.
It is also the innovation in the field of E-commerce web design helped the Indian E-market to exhibit the goods in an appealing way and guarantee the availability of the same for sale. The ability of the sites to offer high value-added services for customers, on delivery of the products, promoting and obtaining trademark recognition helped them to improve a lot in this field. Some of these sites integrated traditional and virtual business structures and strategies that compensate the risk taken by an online buyer to purchase a product.
What was really challenging for these E-commerce websites were to lower the fear associated with online purchases. The profitability needs to be very well cared because the margins usually are low; ability to operate with good suppliers and partners; ability to entertain mass customization and operation (demand-> production), when markets require customization are also important.
One of the major factors that contribute the success of an E-commerce website in India is the price. The “infibeam” is an example of a company that, even if it has the best infrastructure for electronic commerce in India, always offer a very competitive price to their customers.
Nowadays, Indian E-commerce websites offer several means of payment, for the ease of purchase, including the combination of various payment modes for the same purchase, allowing buyers to pay in their preferred mode. Another important factor that decided the future of E-commerce in India is the ability to identify and treat bad debtors and repudiation efficiently, which limit risks, and kept the buyers.
The organizational structure is an important element of the success for e-commerce websites in India. There are companies that maintain separate and independent structures for traditional and electronic retail. There are other companies that maintain fully integrated structures. Language is often a challenge for Indian E-stores, nowadays, some websites begin to offer their services in multiple Indian languages other than English. India has more than 150 million internet users, this certainly ensures the future E-commerce marketplaces in India.
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