India's eCommerce industry back on growth track again in 2018 - Report by Chitrangana.com
Chitrangana.com, India's leading e-commerce consultants, predict the Indian eCommerce industry may hit again grand growth of 45% for the year 2018-2019, post demonetisation slow down. The experts are also eying golden opportunity for MSME startups.
At the time of the demonetisation, several eCommerce websites reported a fall in sales, especially due to fewer Cash on Delivery (CoD) orders. However, eCommerce consultants believe new shoppers from tier 2, 3 cities will lead to at least 25% growth in the industry. The consultants cited the mobile internet revolution for the influx of new customers in the burgeoning e-commerce industry.
The report also projected a 7% increase will be contributed by customer base in metro cities, which will add up to a whopping 15 percent growth for the year 2018-19.
Mr. Nitin Lodha, a renowned eCommerce consultant, believes the market is no longer plagued by non-performing and amateur start-ups that effectively ruined the eCommerce experience with their "unprofessional practise." Mr. Lodha believes the market is now brimming with only serious players that are focused on a customer-first policy, making it easier for new consumers to avail their services.
The Chitrangana's Research and Survey team expected 2018 is golden year for specialised eCommerce startups and regional eCommerce model. The Research and Survey head Mr. Neeraj Jain said, startup should keep them self aways from selling many multiple category or marketplace business model, and advices startups to focus on specialised eCommerce category.
Through its new draft eCommerce policy, the Govt. of India is determined to level the playing field for Indian start-ups in their battle against established overseas giants. The policy, recently drafted by India's Department of Consumer Affairs, is heavily tilted towards domestic firms. The new draft e-commerce policy has reportedly recommended severe restrictions on online retain, including fewer discounts. Industry experts believe the policy could prove as a deterrent to the global e-commerce giants.
According to Chitrangana's Research and Survey team, the year 2018 provides a golden ticket to start-ups focusing on a specialised or regional e-commerce model. Mr. Neeraj Jain, the head of the survey team, has advised start-ups to avoid selling multiple categories and instead focus on specialised products.
Mr. Lodha, the innovator of the O2O business model in India, has advised start-ups to connect Online to Offline for small towns and rural India to focus majority Indian population who drives the consumption story.
For detail report visit https://www.chitrangana.com
Sai Mohan, News Contributor
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Page Updated Last on: Aug 07, 2018