Rising Trend of Online Retailing

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Rising Trend Of Online Retailing
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Introduction

• 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 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.
• Some main developments that are causing a
  fundamental change in India's online retailing
  industry include

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Price Comparison Platforms

• With aggressive competition in almost every
  industry, theres no doubt that companies keep
  releasing new features in their products at
  better prices. For example, if youre 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.

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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.

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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
  youre looking for the best online shopping
  experience in the UAE, you should consider
  visiting GoBazzar today.

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Thank you!

• Gobazzar

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