12 Aug Recent E-commerce trends in India
The Indian ecommerce market is rapidly evolving and making substantial growth from the last year. The growth is nearly 70% from 2014 and industry pundits say that it will reach as high as USD 6 Billion by the year 2015. Today we are going to focus on some of the recent E-commerce trends in India.
- Cash on Delivery (COD): In India, cash on delivery is dominant. US consumers mainly transact online using Credit Cards or through PayPal. India, despite 1.252 billion strong, only 18.8 million credit cards existed in the country, with approximately 331 million debit cards till last year. COD is directly involved with trust issues of consumers. So online retailers have to pay more attention in giving good service than more investment for marketing.
- Festivals are important: In Indian culture, festivals pay a major role. Most people like to buy gadgets, furniture, kitchenware, etc. during festivals. The festive season of Diwali is a busy time and there are many mega sales and discounts on items. Many online retailers like Amazon, Flip kart provide good opportunities so consumers will buy products. Still there is a scope to improve on and retailers need to focus on areas that excites customers.
- Buying trends: Electronic goods and clothes are the most purchased items in online store. Amazon and Flip kart are offering more discounts to consumers and they are eager to buy products that are available online. Now purchase of groceries has been started by BigBasket, Reliance Fresh, etc. and slowly they are gaining momentum. Soon enough e-commerce will make a difference in Indian market.
- Affiliate Scenario: The affiliate market is not very strong in India. Compared to U.S., Indian market is small. Recently, Amazon opened its affiliate program for India. The sector of cashback is still evolving in India.
In the developed countries like U.S., there are established sites like Walmart, Amazon and business through online transactions is deeply integrated. Indian retailers need to catch up fast.
These are some of the trends continuing in Indian market in the field of e-commerce.