We always had numbers screaming on top of their voice – Indian eCommerce will touch $200 billion by 2026 and it will overtake the U.S as the second largest eCommerce market in the world by 2034.
However, it takes more than just numbers to wake up to realities. Isn’t it?
Human beings tend to procrastinate. That’s even truer for the Indian retailers who are so used to selling offline in a touch and feel set up. Earning enough to feed five generations, they had no inch to try eCommerce.
Covid-19 forced these businesses to go online.
If you joined the bandwagon, welcome to the online eCommerce world.
Just one word of caution – there is no red carpet. You are directly stepping into a competitive market with swords drawn out.
So be sure, going online is only half the battle won. There is plenty of work to do.
Before we get to the disruption which will decide who wins and who loses, let us first confirm that you can tick mark all of these.
Oh good, you are the evolved retailer. Few years back these things were barriers in a way
a) Who is going to match the online inventory to the actuals?
b) Who will put the site together?
c) Who will manage the shipping?
And then boom!
The questions have been put to an end.
That is good news and bad news. Remember – the barriers are not down just for you. They are down for everyone. That straight away means more competition.
The more generic your product, the higher you will feel the heat of competition.