Is your brand ready to catch the ecommerce trends in India?

Updated: Sep 23, 2020

As reported by the Economic Times there are several emerging trends in the year(s) ahead

Some of these are already visible in advanced ecommerce economies like China

  1. Physical Stores to complement online presence

  2. Influencers to ecommerce business playing an important role

  3. Brands to get focused on performance marketing and all things that lead to better ROI

  4. Social commerce and social media

  5. Scale Up – the huge growth of ecommerce that faces all brands

  6. Artificial intelligence, Analytics and Virtual reality

  7. Rural market growth

  8. Customer Loyalty and Shopping Experience

To be ready to take on the fast-moving pace of ecommerce in India any organization needs to gear up and take control soonest Brands need to have the following ingredients to make their ecommerce channel a success

  1. eCommerce mentality. This is very important. eCommerce cannot be viewed as simply selling your products to big sellers who sell other products on online marketplaces. Such sellers buy outright and sell and the brand has very little knowledge of the actual process of selling as it is not involved in the selling process. In many organizations, the ‘Ecommerce and e-Business Head ‘would usually be a sales manager who sees this as one more wholesale channel to sell to. This is not the optimal situation. Every brand needs to view eCommerce as a channel that they can develop and build and have control on several of the levers of this channel. Organizationally ecommerce has to be viewed more than just another sales channel

  2. The right organization and talent. Ecommerce talent is very critical. It is an evolving business and talent needs will keep on changing. The brand has to have a wide range of talent – in-house as well as with their partners

  3. Understanding cost of acquisition. It is not cheap to acquire a customer. No wonder many brands flock to online marketplaces who currently over invest on their own in customer acquisition. Brands can surely ride this wave but the danger is in under estimating the cost of customer acquisition. Make conscious efforts to arrive at a realistic cost of acquisition

  4. The right ecommerce channel partner. This is very critical. Brands need to have a good reliable knowledgeable and experienced online channel partner to work with. A company that is in the business of online sales for branded goods. A company that has a full ecosystem set up for brand ecommerce operations

  5. Top agenda of top management. eCommerce has to become the top agenda for any organization that wants to succeed in this space. Soon most customers will be searching for brands online and if a brand is not well established in the ecommerce universe, it is likely to suddenly see many nimbler online competitors eat into its market share

As a brand owner or CEO of a company that sells products to consumers, you need to have ecommerce on top of your agenda. And it has to drive your decision making as consumers are now beyond brick and mortar and will increasingly spend more time in cyberspace

So here are some suggestions

  1. Get a good Online Brand Retail Partner to be your Online Retailer that operated a Brand online store for your Brand as well as sells your brand on various online marketplaces

  2. Hire top talent within your organisation to lead ecommerce

  3. Do not view ecommerce only as a wholesale business selling to big sellers on online marketplaces. You need to direct your ecommerce business, not be directed

  4. Keep your tentacles out at all times as the reality changes very fast and you have to be on top of it

  5. Use your marketing money judicially and go about developing communication channels that not only build your brand but build your brand online and with the intention to get consumers to take action and make purchases online

  6. Create a reporting and analytics system that is quick and insightful and actionable

Author : Ajay Miglani, Co-founder ND Commerce, India’s leading brand online retailer

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