ERP Insights >> Magazine >> August - 2021 issue
The Future Of Online Retail!
Author : Sanjay Desai
Tuesday, June 22, 2021
Expertised in sales, marketing, and technology with outstanding strategic involvement, determined and planning for achievement has helped him in catering huge numbers.
A few people will have performed many internet purchases by the time you finish reading this article. With a few clicks here and there, they'll be on their way to receiving their package within a day or two. It also saves people the trouble of leaving their apartment to go out and look for the product. For day-to-day transactions, Indians have turned to the convenience of online payments.
The expansion of Online Retail has been encouraged over the years, and it has now grown into a billion-dollar sector.
Since its start, online retail has come a long way. The prospects for Internet retail have never looked bright.
Here are a few reasons why the online retail landscape is shifting:
• Campaigns for Digital India:
With the "Digital India" programme, the Indian government attempted to improve online infrastructure by extending internet connections in rural areas. It appears that their efforts are beginning to bear fruit. The number of people using the internet is steadily increasing.
The number of people using the internet is steadily increasing. The government's initiative has assured that eCommerce is moving in the right manner.
• Safe Payment Gateways:
The latest trends include one-touch payments, fast transfers, e-wallets, and more. Passwords and security answers no longer need to be remembered. Passwords and security answers no longer need to be remembered. Indian banks provide sufficient assistance to users in order to make payments more secure and efficient.
• Product Returns and Exchanges are No Longer a Problem:
Product returns and exchanges are no longer a problem. Returns and exchanges accounted for a significant portion of the logistics cost, which was an additional hardship for eCommerce businesses. However, after the introduction of courier aggregators, RTO (return to origin) rates are 10-15% lower than forward charges. As a result, internet retailers have been able to provide greater services to their clients.
What does the future hold for online retail?
India is on the verge of becoming a digital powerhouse. It is a benefit for online retail since the potential for internet users to become shoppers is enormous. Here are a few things to look out for in the next five years:
“Customers frequently have questions and concerns before making a purchase. As a result, eCommerce businesses and websites have begun to give live chat help that delivers immediate responses 24 hours a day, seven days a week”
• Add innovation:
The key to revolutionising internet retail in India is innovation. It will assist eCommerce businesses in expanding their reach. This is one of the most important objectives for any internet retailers.
Users, for example, have never been enamoured of advertisements on websites. They do, in fact, seek out content that is devoid of advertisements. As a result, it's time to completely overhaul advertising. The fundamentals must be altered, and they must be made worth watching and viewing. The plan is to get them linked up to it!
• Customer Service Excellence:
The customer is king. And outstanding customer service is the key to success for Indian online shoppers. Small firms may learn from the large giants about how to prioritise customer service. Customer service, together with government cooperation, will propel eCommerce in India to new heights.
• AI and augmented reality:
Customers frequently have questions and concerns before making a purchase. As a result, eCommerce businesses and websites have begun to give live chat help that delivers immediate responses 24 hours a day, seven days a week. For webstores, chat assistance has become a requirement. AI-powered chatbots, on the other hand, will be even smarter. More money and brand reputation will be generated as a result of real-time interaction.
In addition to augmented reality, eCommerce is getting more integrated. AR apps will demonstrate that they can bridge the gap between physical and digital encounters. Chatbots are a part of augmented reality. They solve customers' problems right away and move them through the sales funnel quickly.
The physical and mortar stores will not disappear. There will, however, be a few surprises. Online shopping will improve and expand in accordance with the best interests of consumers. AI, chatbots, social media platforms, and other technologies will help to propel online shopping to new heights.
The Future Of Online Retail!
Author : Sanjay Desai
Tuesday, June 22, 2021
Expertised in sales, marketing, and technology with outstanding strategic involvement, determined and planning for achievement has helped him in catering huge numbers.
A few people will have performed many internet purchases by the time you finish reading this article. With a few clicks here and there, they'll be on their way to receiving their package within a day or two. It also saves people the trouble of leaving their apartment to go out and look for the product. For day-to-day transactions, Indians have turned to the convenience of online payments.
The expansion of Online Retail has been encouraged over the years, and it has now grown into a billion-dollar sector.
Since its start, online retail has come a long way. The prospects for Internet retail have never looked bright.
Here are a few reasons why the online retail landscape is shifting:
• Campaigns for Digital India:
With the "Digital India" programme, the Indian government attempted to improve online infrastructure by extending internet connections in rural areas. It appears that their efforts are beginning to bear fruit. The number of people using the internet is steadily increasing.
The number of people using the internet is steadily increasing. The government's initiative has assured that eCommerce is moving in the right manner.
• Safe Payment Gateways:
The latest trends include one-touch payments, fast transfers, e-wallets, and more. Passwords and security answers no longer need to be remembered. Passwords and security answers no longer need to be remembered. Indian banks provide sufficient assistance to users in order to make payments more secure and efficient.
• Product Returns and Exchanges are No Longer a Problem:
Product returns and exchanges are no longer a problem. Returns and exchanges accounted for a significant portion of the logistics cost, which was an additional hardship for eCommerce businesses. However, after the introduction of courier aggregators, RTO (return to origin) rates are 10-15% lower than forward charges. As a result, internet retailers have been able to provide greater services to their clients.
What does the future hold for online retail?
India is on the verge of becoming a digital powerhouse. It is a benefit for online retail since the potential for internet users to become shoppers is enormous. Here are a few things to look out for in the next five years:
“Customers frequently have questions and concerns before making a purchase. As a result, eCommerce businesses and websites have begun to give live chat help that delivers immediate responses 24 hours a day, seven days a week”
• Add innovation:
The key to revolutionising internet retail in India is innovation. It will assist eCommerce businesses in expanding their reach. This is one of the most important objectives for any internet retailers.
Users, for example, have never been enamoured of advertisements on websites. They do, in fact, seek out content that is devoid of advertisements. As a result, it's time to completely overhaul advertising. The fundamentals must be altered, and they must be made worth watching and viewing. The plan is to get them linked up to it!
• Customer Service Excellence:
The customer is king. And outstanding customer service is the key to success for Indian online shoppers. Small firms may learn from the large giants about how to prioritise customer service. Customer service, together with government cooperation, will propel eCommerce in India to new heights.
• AI and augmented reality:
Customers frequently have questions and concerns before making a purchase. As a result, eCommerce businesses and websites have begun to give live chat help that delivers immediate responses 24 hours a day, seven days a week. For webstores, chat assistance has become a requirement. AI-powered chatbots, on the other hand, will be even smarter. More money and brand reputation will be generated as a result of real-time interaction.
In addition to augmented reality, eCommerce is getting more integrated. AR apps will demonstrate that they can bridge the gap between physical and digital encounters. Chatbots are a part of augmented reality. They solve customers' problems right away and move them through the sales funnel quickly.
The physical and mortar stores will not disappear. There will, however, be a few surprises. Online shopping will improve and expand in accordance with the best interests of consumers. AI, chatbots, social media platforms, and other technologies will help to propel online shopping to new heights.
A few people will have performed many internet purchases by the time you finish reading this article. With a few clicks here and there, they'll be on their way to receiving their package within a day or two. It also saves people the trouble of leaving their apartment to go out and look for the product. For day-to-day transactions, Indians have turned to the convenience of online payments.
The expansion of Online Retail has been encouraged over the years, and it has now grown into a billion-dollar sector.
Since its start, online retail has come a long way. The prospects for Internet retail have never looked bright.
Here are a few reasons why the online retail landscape is shifting:
• Campaigns for Digital India:
With the "Digital India" programme, the Indian government attempted to improve online infrastructure by extending internet connections in rural areas. It appears that their efforts are beginning to bear fruit. The number of people using the internet is steadily increasing.
The number of people using the internet is steadily increasing. The government's initiative has assured that eCommerce is moving in the right manner.
• Safe Payment Gateways:
The latest trends include one-touch payments, fast transfers, e-wallets, and more. Passwords and security answers no longer need to be remembered. Passwords and security answers no longer need to be remembered. Indian banks provide sufficient assistance to users in order to make payments more secure and efficient.
• Product Returns and Exchanges are No Longer a Problem:
Product returns and exchanges are no longer a problem. Returns and exchanges accounted for a significant portion of the logistics cost, which was an additional hardship for eCommerce businesses. However, after the introduction of courier aggregators, RTO (return to origin) rates are 10-15% lower than forward charges. As a result, internet retailers have been able to provide greater services to their clients.
What does the future hold for online retail?
India is on the verge of becoming a digital powerhouse. It is a benefit for online retail since the potential for internet users to become shoppers is enormous. Here are a few things to look out for in the next five years:
“Customers frequently have questions and concerns before making a purchase. As a result, eCommerce businesses and websites have begun to give live chat help that delivers immediate responses 24 hours a day, seven days a week”
• Add innovation:
The key to revolutionising internet retail in India is innovation. It will assist eCommerce businesses in expanding their reach. This is one of the most important objectives for any internet retailers.
Users, for example, have never been enamoured of advertisements on websites. They do, in fact, seek out content that is devoid of advertisements. As a result, it's time to completely overhaul advertising. The fundamentals must be altered, and they must be made worth watching and viewing. The plan is to get them linked up to it!
• Customer Service Excellence:
The customer is king. And outstanding customer service is the key to success for Indian online shoppers. Small firms may learn from the large giants about how to prioritise customer service. Customer service, together with government cooperation, will propel eCommerce in India to new heights.
• AI and augmented reality:
Customers frequently have questions and concerns before making a purchase. As a result, eCommerce businesses and websites have begun to give live chat help that delivers immediate responses 24 hours a day, seven days a week. For webstores, chat assistance has become a requirement. AI-powered chatbots, on the other hand, will be even smarter. More money and brand reputation will be generated as a result of real-time interaction.
In addition to augmented reality, eCommerce is getting more integrated. AR apps will demonstrate that they can bridge the gap between physical and digital encounters. Chatbots are a part of augmented reality. They solve customers' problems right away and move them through the sales funnel quickly.
The physical and mortar stores will not disappear. There will, however, be a few surprises. Online shopping will improve and expand in accordance with the best interests of consumers. AI, chatbots, social media platforms, and other technologies will help to propel online shopping to new heights.
