The Trends and Opportunities in Indian E-commerce

What is e-commerce? To a layperson, it is buying and selling online. But, take a look underneath the surface and you will find a rapidly expanding multi-dimensional industry. Information, service, and quality are the key aspects which every e-commerce provider ascribes to. E-commerce companies ride on great service value, which will herald a new market space with a never-depleting consumer base. Statistics and latest trends suggest that with the changing urban landscape and rising per-capita incomes, the e-commerce industry in India is burgeoning at a skyrocketing pace. ASSOCHAM reports indicate that the industry in India would be worth USD 38 billion in 2016, positing a 67 percent jump over USD 23 billion revenues for 2015. With such a growth rate, Indian e-commerce presents plethora of opportunities too. From fashion to electronics to food, every facet of day-to-day life has an e-tailer, beckoning the digital age. Below we look at some trends and opportunities in the present industry.

• With increasing emphasis on social media penetration, marketers have realized the potential consumer base in Tier 2 and Tier 3 cities. Social media engagement leaves a strong impact on the customer base leading to healthy conversions. There are 50+ million active users on websites, such as Facebook, Twitter, and YouTube and Indians spend more time on social media than any other activity on the internet, according to a Nielsen survey. Thus, prospects for a career in digital marketing are highly lucrative and present unrivalled opportunities for growth and innovation.

• The present Indian urban landscape is characterized by mobile generation. Availability of affordable smartphones and tablets and attractively priced internet plans will assist in the rising base of potential online shoppers. According to US-based research firm, by the end of 2016 India will have 204.1 million active smartphone users, surpassing the numbers of US, Japan, and Russia. More smartphone users shopping online and browsing the internet clearly shows the shift desktop to mobile, thereby a demand for convenient mobile applications. Development of app-based products and so the demand for adroit app developers is on an all-time high. It is estimated to grow at an average rate of 22 percent from 2012 to 2022.

• With Indian e-commerce firms collecting and collating reserves of consumer data, including details of online transactions, personal details, etc. risks of breach in security also increases. Adding a layer of robust security measures to protect data and privacy of its customers, e-commerce firms are spending a lot on adopting the advanced Information Security technologies. For instance, the biggest e-commerce portal in India, Jabong allocates 15-20 percent of its revenues to cyber security. Professionals specializing in Information Security are then much needed in this burgeoning field. Information is the most valuable asset of e-commerce businesses, who thrive on knowledge of their consumers, InfoSec professionals in e-commerce have the responsibility of safeguarding this asset.

• Another fast emerging trend in the e-commerce industry is cloud computing. This technology in India, according to a report by Gartner, is expected to reach USD 3 billion by the end of this year. For e-commerce businesses, it has plethora of benefits. Starting from saving costs on infrastructure and administration, it leads to rapid conversion of market opportunities through real time engagement. Retail e-commerce businesses with functions spread all over the country have reaped maximum benefits of cloud computing by creating virtual databases and engaging clients from various verticals. The career prospects, thus, involve being adept in technical as well as managerial skills. Professionals, such as Business Analysts, Operations Manager, IT Managers, etc. are some who are associated with the business as well as the IT domains in e-commerce.

• A rather traditional, yet powerful aspect of successful business is brand management and public relations. For e-commerce businesses amidst high competition, a strong communications strategy can work wonders. A business, be it B2B or B2C thrives on delivering the right information to its audience. And with changes in mediums of communication, a shift in brand marketing and PR strategy follows. Delivery of appropriate content and building of brand reputation is what Brand Managers and Public Relation experts do. A nuanced understanding of the marketplace and designing unique campaigns is a prerequisite for successfully acquiring objectives. Career prospects for creative individuals, who have an understanding of e-commerce market,can sense what a consumer wants, and deliver quality service have glorious prospects in this field.

Therefore, the trends in Indian e-commerce industry require the right set of skills, education, and creativity to reap benefits of opportunities which are presented across several dimensions.

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