E-commerce business growth in rural India!
The union budget 2017 has focused on boosting the rural economy and to promote digital transactions over rural areas. E-commerce business already got hit in the meropolitan cities, but now it focused on the rural areas. Will it cause the growth of e-commerce business in India?
Online shopping is expected to grow at a high rate by 2020!
The biggest thrust for e-commerce arrives from two main budget initiatives. first one is Connecting to more than 1.5 lakh village panchayaths with high-speed bandwidth. Other one is focusing on digital transactions. Mr. sujayathi ali, Co-founder of voonik.com says, as because of the increased penetration of smartphones and internet creates a large base. And for the first time, online consumers are to expected arrive from rural areas.
According to the recent surveys, in 2020 , half of the Indian internet users base will be from rural areas. And the the GMV( Gross Merchant volume) of online shopping is expected to grow at a rate of 50-60 percent to $80-100 billion by 2020.
Due to the increase rate in mobile and internet penetration & the increase in the rural incomes have opened the doors for e-commerce in the rural areas. Online E-commerce platforms are currently English-centric. If the e-commerce industry aspires to reach out to the rural population, it should have to communicate in all the 22 Indian languages.
Growth of E-Commerce In The Business of Fashion:
the Indian retail industry has witnessed a strengthen growth after the advent of e-commerce and its impact on the fashion industry. The Indian retail market is expected to grow to be at CAGR of 13% to reach the US $1,080 billion in the year 2020.
The Indian fashion retail market has witnessed, several changes in the last few years. Which indicate the country's evolving to fashion retail market. One of the significant changes is advancing online retail or e-tailing of fashion, products across the country.
The Impact of Internet and Mobile apps in E-Commerce Growth:
Vijay Sekhar Sharma the CEO & founder of paytm tells in a retail leadership summit – that is the e-commerce wing was aiming for a moon shot target in the December of 2017.
Nestle says establishing a direct channel of communication with consumers can offer improved service, and the ability to buy the product directly.
The growth of internet and smartphone usage causes the growth in the online purchase. Online customers are showing their interest to buy goods with their mobile phones instead of computers. A research report says in the year 2016 over 771$ million in revenue has seen through mobile purchases.
Mobile apps are user friendly than mobile websites, hence mobile users show their interest in using the mobile apps instead of visiting websites. Currently, a lot of ecommerce players are earning more number of profit from their official mobile apps. Mobile apps are not just useful as a way to improve sales. They are also a unique marketing tool. Recent analysis report shows that customers spend 90 percent of their time on mobile apps when compared the mobile website and other devices.
E-Commerce business development:
India is getting transformed into digital, hence it opens a lot of business opportunity for online business people to start their e-commerce websites! We provide a thriving e-commerce business solution over the globe!
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