There's no doubt that E-Commerce in India is booming!
Cash On Demand – also known as COD – is a feature that has been associated withIndian E-Commerce Industry. COD as an instrument during financial transaction that allows the purchaser to pay at the time of delivery of the product.
In a developing market in India, where not many of the customersare having debit or credit cardsor even bank accounts to make online purchases. This factor had madeinvestorsskepticalabout online purchases in India; but that's not the case anymore.Recently companies like 'Flipkart' and 'Snapdeal' have raised few billions to drive the growth in Indian markets. With features such as 'Online only discounts', Online Coupons and free shippingfacilitieseCommerce in India are poisedto take over retail market.
Yes Agreed, at the moment E-Commercecaptures less than 1% of the retail market and customers still prefer to experience the product before completing a purchase. But whenonline portals offer good quality product atdiscounted priceswith a further 30 %off on online payment;it’s interesting to see why one step into the store would. It’salso not a surprise whysuch offer put E-Commerce stores out of stock in just few minutes.
With the help of 3G and broadbandInternet facilities; it has been a lot easier to sell products using eCommerce infrastructure. Digital marketing is furtherstrengtheningits roots where mailers, digital Billboards, text messages and emails are targeting potential customers with special offers.Onlineadvertisements and electronic word of mouth on social networking sites are further enticing people to buy products.
This potential can be reflected when you consider following scenarios. With the help of 'Flipkart' as E-commercechannel partner, Motorola was able to sell their flagship phones (Moto G – second generation) in no time.It's notsurprising that their production chain and Indian E-commercemarkethave driven the sales in an exponential manner. This phone is still difficult to grab due to its exclusivity on sale via E-Commerce channel.
Times are changing with today's fast-moving mobile and social technologies. As of today, the task of marketing has become more reliant on technologies and the Internet. With the technological rise of concepts like Data mining and Business intelligence; the angel investors can't hide their excitement to offer seed money, and rip the benefits of the market.To achieve better results, E-Commerce channels are integrating Customer Relationship Management (CRM) software, Social Media Marketing (SMM) and Search engine optimization (SEO) practices.
As shown above, the most successful product categories in Indian E-Commerce market include Electronics Equipment, Apparels, Fashion and Books. At the same time categories like Entertainment, health and fitness, home appliances and vehicles; hold huge potential as well.
It is believed that the process of selling through E-Commercewill also streamline customer support services and warrantee guidelines and refund processes in favor of the consumer. There is no doubt that Investors believe eCommerce in India is largely untapped market and carries great potential and value to every Indianmerchant. Beyond doubt Indian consumers also stand a chance to make the most out of it!