Coupled with the rapid rise of mobile and internet penetration across the country, the Indian eCommerce market has rapidly become a behemoth. What was once a $14 billion industry as recently as 2014 is now looking to grow to $99 billion – and perhaps even beyond – by the end of next year. Look even further ahead to 2030, and many forecast the industry to hit $350 billion.
Some of the biggest international eCommerce companies have seen this coming for a good decade, jumping into the market early, even if at a loss to be around for this stage of rapid growth. Still, Indian businesses should know the market better and be more nimble to appeal to Indian online shoppers. To help with this, businesses have a great many excellent tech-driven avenues to improve their status and become even bigger.
Make the most tech-savvy logistics
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Having a place in a massive market like India’s offers a tremendous amount of reach and a potential customer base in the hundreds of millions. However, India’s a hefty country, so logistics can be very difficult to manage and run efficiently enough for an ever more competitive eCommerce market. It’s because of this that EconomicTimes.com reports the eCommerce logistics space alone as being on track to exceed $10 billion by 2027/28.
Of course, any eCommerce business looking into establishing a go-to logistics firm will prioritize the security of items – especially if shipping something like the Sony camera (which we’ve covered before at OrissaDiary.com) – and speed of deliveries. With most of the larger and more dependable firms going all-out to get that competitive edge, many have integrated useful tech to improve the service.
Real-time tracking, an accompanying app, and even last-mile delivery software are all options that several top logistics businesses offer in India. One of the largest logistics firms in India is Delhivery. They specialize in next-day deliveries and offer recipients the chance to schedule deliveries. Importantly on the tech front, they boast API integration and tracking.
Capitalizing on reviews
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Like it or not, online reviews are incredibly persuasive, and even if they’re less-than-stellar reviews, you can still gain from their presence. Just as a starting point, you gain trust and an element of persuasion just by having them on your site. With reviews, customers are nearly two-thirds more likely to trust the business and buy from them. What a business needs to decide is if they’ll have open public reviews or turn to expert platforms.
Comparison sites, for lack of a better catchment term, compile expert reviews on associated sites and offer links to those sites. This can be seen across the entertainment industry, with one specific example being within the iGaming space: CasinoReviews.com. Their review process involves inspecting the safety and reputation of casinos. Then, if the platform meets their standards, they make it into the ranking. Reviewed sites are also linked, directing players to the reviewed sites.
This can help eCommerce businesses just as much as it does iGaming ones, especially as these review platforms are becoming the go-to way to find a site in distinct categories. In India, there are plenty of price comparison sites. The likes of Smartprix.com promote the products at the best prices found at partner sites like AliExpress, Pizza Hut, Flipkart, and Amazon.
Ensure security on your site
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When dealing with payments, security has to be at the forefront of your mind. There are many ways to become much safer and more secure for customers, but the first step has to be to get an SSL certificate. As both Hubspot.com and GoCardless.com list in their top spot, every eCommerce site should get an SSL certificate from the hosting provider, a certificate authority, or your domain registrar.
Doing this makes the link between the web server and browser encrypted and is the main way to ensure security. However, it’s not the only way. Simply offering trusted online payment services can also enhance how trusted an eCommerce site is, especially if the selection includes the likes of PayPal rather than just requiring visible numbers from a bank card to be submitted. A business could even turn to cryptocurrencies to check this box.
If your business is looking to make a splash in the massive Indian eCommerce market, you should make site security, online reviews, and tech-savvy logistics a priority.
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