2022 saw significant changes in the Indian e-commerce ecosystem. The e-commerce industry is expanding rapidly even as the 21st century moves toward a digital society, driven by consumers’ growing desire for convenience. Traditional brick-and-mortar business owners are quickly adapting, creating online shops for their product lines while maintaining a physical store presence.
E-commerce will soon be at the frontier, and companies really should prepare to embrace it in the meantime. Each of these trends is already accelerating and will certainly continue to do so in 2023 and beyond.
According to Nidhi Agarwal, Founder, Spacemantra, “India is a mobile-first country, and more and more consumers are choosing to shop through their mobile devices. E-commerce businesses must optimize their platforms for mobile users and invest in mobile app development to provide customers with a seamless shopping experience. Also, social media platforms are increasingly becoming a popular destination for online shopping, and this trend is likely to continue in the years to come. E-commerce businesses should take advantage of social media to promote their products and engage with customers, as well as explore social commerce features integrated into their platforms.
“Consumers are looking for personalized and tailored shopping experiences. E-commerce businesses must invest in data analytics and AI technologies to collect customer data and provide personalized recommendations and experiences to customers. Consumers are becoming more environmentally conscious and choosing brands that are eco-friendly. E-commerce businesses must adopt sustainable practices and promote eco-friendly products to attract and retain customers,” said Ridhima Kansal, director, Rosemoore.
Raghunandan Saraf, Founder & CEO, Saraf Furniture, said, “Customers expect a seamless shopping experience across various channels such as online and offline. E-commerce businesses should invest in omnichannel retail strategies that provide customers with a consistent and integrated shopping experience, such as buy-online-pickup-in-store (BOPIS) and ship-from-store options. To prepare for these potential trends, e-commerce businesses in India should prioritize investments in mobile app development, social media marketing, data analytics and AI technologies, sustainable practices, and omnichannel retail strategies. By staying ahead of the curve and offering customers the latest trends in e-commerce, businesses can better compete in an ever-evolving market.
“The Indian ecommerce market is expected to reach $110 billion by 2025 with 1.5 million sellers, which presents its own set of challenges and opportunities. To stand out, it is important to focus on a particular industry, focus on target segment, get the target market at the right point, invest in tech, warehousing, logistics, inventory movement, payments, tracking on shrinkage Potential, investing in affiliates, influencers, budgeting for it, and making sure the customer feels excited to use it, recommend it, reorder it. In the end, the customer is always right,” said Sangeeta, Founder and Director, DigiDZN and DigiCART
According to Umesh Singh, Director, Tara Candles, “The Indian e-commerce industry has seen tremendous growth over the past few years, and is expected to continue on an upward trajectory in the years to come. As we move towards 2023-24, the Indian e-commerce industry can expect to see five major trends. These trends include the rise of social commerce, the increasing importance of last-mile delivery, the development of hyper-localization, the adoption of advanced technologies such as artificial intelligence and machine learning, and the rise of niche markets. To prepare for these trends, e-commerce businesses must focus on building strong partnerships with logistics providers to ensure efficient last-mile delivery.