The pandemic and lockdown period has brought many new learnings for all businesses, and e-commerce has undoubtedly been one of the sectors that has highly impacted in a positive way.
The e-commerce sector has been witnessing a significant growth over the last few years and has been showing no signs of slowing down in India. And why would it? Today online shopping has become so much easier. We can buy literally anything, right from groceries to perfumes and even expensive jewelries, from within the comfort of our homes.
The pandemic further has brought a huge and a long-term change in the way people shop and make their purchase decisions.
Now let's understand what are the 7 of the factors that drive ecommerce growth in India and how the eCommerce sector is soon going to be the hottest trend.
According to Easyleads, it is estimated that currently, the number of eCommerce platforms available in India is more than 19000+.
We know It's a huge number and YES!
It is still counting and many more emerging native eCommerce platforms are all set to jump into the competition. Previously businesses used to fear beginning their online business, but with the gradual understanding of eCommerce benefits in future and shopper's more inclination to online shopping made them finally take the decision to start their online business journey.
Today no matter the size of business whether small or large all are seeking the best eCommerce platform available in the market to start selling online. Business owners are always on the lookout for a platform that matches their requirements and fits into their budget. And one such platform is VistaShopee, the most affordable and content-driven platform. VistaShopee is a complete online business platform for you to start, sell and grow your online shop for web and mobile.
Market size of e-commerce industry across India with forecasts until 2027 - Statista
According to DataReportal, There were 658.0 million internet users in India till January 2022.
So we can just imagine how internet connectivity has made our life easier and simpler. Today with the smartphone in hand and proper internet connectivity one can simply browse products through shopping sites and get their favorite products delivered at their doorstep.
One point that cannot be denied is that people get direct access to digital knowledge through informational sites and articles online which only makes them digitally occupied thereby promoting eCommerce growth in India.
Indians are becoming more aware and embracing the idea of online shopping. There is a significant change in consumer buying behavior and their choice of products.
Today people love to shop online from the comfort of their homes rather than stepping out of their homes to buy products.
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Consumers even get to explore global products through international shopping websites which entices them to purchase products online.
The sheer convenience of online shopping has contributed a lot to the ecommerce growth in India
When any potential customer visits a website but leaves it without purchasing any products, then companies follow them online.
Remarketing can convince an online shopper to revisit a website to complete the purchase that they have previously failed to do.
So similarly with remarketing possibilities opens many doors for a business owner to capture and convert leads into actual buyers. Here with VistaShopee, you have the power to explore unlimited remarketing tactics with inbuilt digital marketing controls for your online store.
Nowadays Curated eCommerce is on the rise. Where online shoppers perform window shopping scanning products online and adding them to a cart. This has given rise to the culture of "Select now, share with all, buy later".
With the wide usage of social media platforms by users to share products with each other has boosted this concept further, which has given rise to influential buying.
With the rise of digital wallets and UPI’s, consumers have a variety of payment options. Earlier, eCommerce transactions were more based on cash on delivery due to lack of trust or the need for product transactions.
Due to the demonetization drive, more and more Indians have started using electronic payments. With many eCommerce companies investing heavily in strengthening the online security for payments, more and more consumers are using online mode for shopping. VistaShopee has many popular payment gateways pre-integrated like Razorpay, CC Avenue, PayU, Instamojo, PayTM, Cashfree, etc enabling you to accept payment through Debit/Credit card, Net Banking, Wallets, UPI’s.
Source: Anna Shvets from Pexels
Indians are very price-conscious and have a high need for bargaining. They naturally are on the lookout for exciting deals and offers. Ecommerce companies use this and offer deep discounts to lure customers and get them to finally seal a deal with them in the form of product purchase.
To help you generate more sales online VistaShopee lets you set interesting offer prices and discounts with promo codes to induce online visitors to make product purchases. And guess what? Offer Banners on your website are the cherry on the cake that instantly clicks with the visitor to convert.
Running discounts with promo codes encourages customers to try out the product for the first time as the cost risk factor is low and why not existing customers would also be enticed to use the discount offer for their own benefit.
So we can see that looking at the above factors, the eCommerce industry seems to be soaring high at a rapid speed.
Businesses who are on the lookout to start their online business must look no further and start selling online owing to the increased internet user base and consumers' changing buying behavior which has lead to ecommerce growth in India.
The competition in the e-commerce industry in India is fierce. The market is filled with many local and foreign companies trying to hold the maximum market share.
But needless to say, the ecommerce growth in India has brought many new opportunities for businesses as well as for the consumers, it is a win-win situation.