The retail sector has collapsed, the fashion industry and the luxury goods industry have witnesses major setback which has left them unconnected to the industry. At this point of time, e-commerce in India was not an option but the last resort for anyone who wants to safeguard themselves. The last few months have seen huge growth of e-commerce in India. E-commerce in India has been around for quite some time now; but what is e-commerce in India, really and why is e-commerce important?
E-commerce is basically, offering products and/or services through digital mediums. In the past few years, the e-commerce world has evolved, e-commerce firms are more than a business selling their products over the Internet. The future of e-commerce is bright because the research and development has helped this industry to grow. For e-commerce companies, from setting up an e-commerce website to e-commerce homepage design; from e-commerce solutions for small business to global e-commerce business, everything is a determinant of their profitability.
The market share of e-commerce in India is bigger and better than it was before. Since e-commerce world is a relatively new domain for people to enter, the opportunities e-commerce presents us with are huge. The importance of e-commerce in modern business has exponentially increased. The importance of e-commerce in India, especially, is usually undermined. Hereafter is the importance of e-commerce in points:
Expand your Market: The importance of E-commerce in India lies in the labour-intensive nature of our economy. Even when your business is catering to the needs of the Indian consumers well, the presence of e-commerce and e-business helps you expand your market. Expanding the market through e-commerce helps in attracting consumers from more developed countries. It expands potential target market and gives global access.
Be a brand: E-commerce has also enabled a thousand different ways of advertising the same product. It has not only opened ways for e-commerce firms to make money, but also transformed e-commerce firms and e-businesses into big brands. Example- OYO, Dunzo, etc.
Better Outreach: The thing about selling on Internet is that you never know who needs it. Your target market of 18 to 35 years olds can be easily disrupted when a 70 year old decides to buy Airpods. Internet is a disruptive force and the players who provided groundbreaking innovation have really been able to conquer it. The algorithm of Facebook and Instagram can be dominated for better outreach.
Scalability: E-commerce also lets you scale up your business as you grow digitally. Scalability has everything to do with the scale of operations, size of the business and the ability to diversify a business, if at all required.
Compete with International Markets: E-commerce brings about digital marketing too, which is a very successful domain. Digital Marketing helps in great outreach and client engagement. Digital Marketing has also been simple for the most part; however, due to cut-throat competition, even digital marketing has witnessed great innovation. This has helped the websites get the visibility and outreach
Grow your business: E-commerce business in the modern day does not rely on huge capital to grow it. E-commerce helps you undertake business in different markets and thereby, make good profits from various avenues without any outlay cost.
Now considering the year 2020, with almost half the globe indoors and online, e-commerce inf India and all across the world is the next big thing. As such e-commerce in India has been on the rise for a few years now, with the dynamic year of 2020, it is sure to see a speedy growth.
Thanks for reading our blog!
Now that you have come so far, read a few more lines to know a bit more about us 🙂
Sparsh Garg Pvt Ltd is one of the best digital marketing companies, providing a range of Digital Marketing and Business Consultancy Services. Recently, we at SG Pvt Ltd launched our own Digital Marketing Courses. At our new branch – SG Courses; we will provide live online classes, helping people develop their digital marketing skills using a modern approach towards education. The Sparsh Garg Pvt Limited is hands down the best digital marketing company there is, especially if you want to reach out to the youth today!