When it came to eCommerce, Indian consumers were not very keen on Amazon and Flipkart, but they were ready to pay for online products.
But the time is now for Indian consumers to embrace eCommerce.
The National Electronics Corporation (NEFCOM) is planning to launch eCommerce through the eCommerce platform for the Indian market in March 2019.
This eCommerce programme is a part of the ecommerce transformation strategy of the NEFCOM, which aims to drive eCommerce in India through innovative products and services.
The company is aiming to bring in products and content that are unique to India.
In the next six months, the company will launch products and the service to offer online shopping through eCommerce portal.
This will bring new opportunities to e-commerce and it will be a major change for Indian eCommerce customers, said Prakash Bhardwaj, executive director, Centre for International Business and Economic Research (CIIER).
He added that eCommerce will become the fastest growing segment in eCommerce market in the next two years.
“With eCommerce ecosystem in India being able to offer products, services, content and services, there is a lot of opportunity for Indian retailers to bring eCommerce into their stores.
The eCommerce is going to be the fastest growth segment in India, especially for online retailers,” he said.
The eCommerce platforms are different from the Amazon and Alibaba platforms in that they offer content and products through a platform that is built around technology.
This is an evolution of the existing online retail ecosystem, Bhardwal said.
There is a huge need for Indian online retailers to make the transition to eServices, he added.
“We will have to get rid of some old technology and we have to learn how to build the eServices ecosystem.
In that process, we will be able to have an eCommerce business for Indian retail customers.
For that to happen, eCommerce has to be an integrated ecosystem that is seamless for all the different eServices retailers,” Bhardwa said.
As a result of this evolution, there are many new opportunities in eServices and online retailers, he said, adding that India is now at the crossroads of eCommerce and eCommerce infrastructure.
“We have an ecosystem that can be scaled up to hundreds of millions of users and that is not possible in India.
The growth is in e-Commerce and that ecosystem has to become the backbone of eServices in India,” Bisswani said.
“This is the next stage in the e-Retail transformation.
This will be the transition of e-Services from a niche into a mainstream business.”
Ecommerce in India is expected to reach over $100 billion in 2019, according to a recent report by research firm IDC.
However, the growth of ecommerce is not uniform across the country.
Bisswal said that it depends on the size of the retail market and the quality of the product.
“There is no universal strategy for eCommerce development in India at present.
There is no common approach, which is the focus of this report,” he added, adding there are different challenges to e commerce.”
The challenge is that a lot is missing from the eStore ecosystem in this country,” he explained.
“So, this report focuses on the challenges that e-retailers are facing and what the future holds for e-services in India.”
India’s eCommerce growth, which has been accelerating in the last few years, is set to accelerate further as e-stores and other services such as mobile apps will continue to evolve.
