Report Wire

Tag: e-commerce market

  • E-comm gamers might take the ‘interactive’ route quickly

    With deep-pocketed gamers betting large on e-commerce, the sector is bracing for extra competitors. A deluge of low cost smartphones is pushing extra Indians to go surfing and the same old ways of providing inexpensive offers, reductions and comfort of money on supply might not work anymore. The way forward for e-commerce must be ‘interactive’, say analysts at Zinnov.
    To put it merely, firms must curate a blended mannequin — embedding content material to drive shopper engagement, permitting simple discoverability of merchandise and supporting a community of influencers and group participation. If companies are in a position to play their playing cards proper, they’ll seize an even bigger share of the e-commerce market, estimated to the touch a major $200 billion by 2026.
    India has round 500 million smartphone customers however solely about 12-15 million of them navigate conventional market led e-commerce hubs like Flipkart and Amazon every day; whereas, content-led platforms like Facebook and YouTube see a each day energetic consumer base of 135-175 million, exhibits a current research by Zinnov.

    “In the coming days, we can expect to see interesting collaborations among players across content, payments and commerce to bring the interactive commerce model to life. No one player has all the required elements in place,” say analysts on the agency.
    Commerce and fee platforms are already introducing content material of their quest for larger engagement. A outstanding instance is Flipkart, analysts say, which is launching movies and video games.
    Players will even need to concentrate on creating simple discoverability which has up to now not been explored by {the marketplace} gamers. Consumer surveys point out that discovery is more and more taking on from search as the first means for locating new manufacturers and merchandise. In reality, 38 per cent of product discovery for cell procuring occurs with none premeditation or promoting affect, the research exhibits.
    China’s Pinduoduo has been in a position to defray craft an interactive commerce mannequin. This has made it one of many quickest rising e-commerce startups in China.

    The second largest e-commerce participant in China, Pinduoduo hit a gross merchandise worth (GMV) of $15 billion inside two years of its launch — a milestone that took Alibaba and JD.com took 5 years. FE

  • Received complaints, investigating some e-comm cos: Piyush Goyal

    THE authorities is at the moment investigating some on-line platforms, following complaints from shoppers and small retailers of potential violations to its e-commerce coverage, stated Minister of Commerce and Industry Piyush Goyal on Tuesday. The Ministry can also be contemplating “certain clarifications” to its e-commerce guidelines to make sure that corporations work “in the true spirit of the law”, he added.
    “There is no change in the e-commerce policy per se. (The) e-commerce policy is very robust, well-designed and operating in India in several sectors,” stated Goyal throughout a digital media briefing in response to a query on whether or not the ministry was revisiting its present FDI coverage for e-commerce.
    “However, there are certain complaints from consumers and from small retailers about certain practices of the e-commerce companies which are under investigation. We have sought for several informations; they are being looked into,” he stated.
    “We are also considering certain clarifications to ensure that the e-commerce sector works in the true spirit of the law, of the rules that have been laid out for e-commerce,” he added.

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    The Minister reiterated his stance on e-commerce, saying it’s supposed to supply an agnostic platform that gives “all the data” required for consumers and sellers to commerce with one another and for shoppers to make a rational selection. E-commerce platforms shouldn’t turn out to be part of the buying and selling transaction, he stated, including that they need to not interact in actions like selling their very own merchandise and sustaining algorithms to offer choice to at least one vendor over one other.

    In response to a question by The Indian Express on how the change in administration within the US impacted India’s long-awaited mini commerce pact with the nation, the minister stated that extra readability would emerge after a brand new US Trade Representative was appointed. “Once the new US Trade Representative is in office, we will start a dialogue with them to look at how we can expand our business and our international engagement with them, both through market access (and) tariffs. There are different ways in which we can look at expanding our trade relationship,” stated Goyal.
    “We’ll have to wait for the new USTR to come in, and we’ll have to hear from the new administration what is in their mind. We also have certain thoughts about it. It’s only after we have engaged with the new administration that we can comment on that (the mini trade pact),” he added.