| | March 20169Shake-up in Aggregation Services & RetailOnline retail and service aggregation seems to be the hottest part of the new economy. But new entrants - and even established ones - may have to tread with caution. Investors look deeper into business plans even as businesses compete in the race to gain new users, while consumers find themselves confused by a wealth of choice... that's been the state of the new economy recently. While startups may have to be more cautious as customers find themselves weary of the `Next Big Service', even established companies aren't immune as the barriers to switching over to the competition are very low - often as simple as installing a new app. The lesson?, don't compete solely on price. Don't blow your funding on un-sustainable practices. Consistency, reliability might seem boring in this age, but they work in the long term.Mobile and Contactless PaymentsAs a nation, we have traditionally distrusted electronic payments, preferring to deal with cash. But now, with an increasing number of consumers getting more comfortable with electronic payments, and yet, wary of using credit cards online, things are shifting. The last year has seen plenty of new mobile payment services emerge. Looking at that trend, we can expect this year to be about innovation, feature differentiation, and deeper partnerships with retailers. We might also get to see a growth in contactless payment solutions for offline retail. After all, if the new Indian economy has taught us anything, it's that no matter what barriers there are, we'll innovate and come up with new solutions!B2B Markets Evolve Towards PlatformsOn the B2B front, we can expect service and backend solution providers to transition their offerings from mere solutions to `platforms'. The difference might be subtle, but it holds a world of promise. Platforms, by their very nature, aren't just a straightforward transaction between a supplier and a customer. But rather, they lay the framework for a future world of working in sync with customers and vendors alike. A platform offers the provider the possibility of a higher-value partnership, one which the customer will not abandon, while for the customers, a platform truly harnesses the strengths of the IT industry by providing a seamless experience.Homegrown Brands and Manufacturers EmergeThe Indian government has been pushing its Make in India programme as a way of getting us on board the IT manufacturing bus. With new incentives being laid out, manufacturing clearances becoming easier, and the overall business climate in favour of high-tech private industry, we are poised for a quantum leap. Add to this the question so many of our young innovators are asking - why can't we make world-beating brands and products? This is what we can expect the next - and perhaps the most exciting - big trend to be all about - manufacturing devices for the our youthful population, and working on a long-term plan by building up a brand that holds appeal not just for the Indian consumer, but also abroad. On the B2B front, we can expect service and backend solution providers to shift from mere solutions to `platforms'. The difference might be subtle, but it holds a world of promiseAmbarish Gupta
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