2 years ago on
Digital Commerce Market in India to Exceed Rs 1 Lakh Crore This Year: Study
New Delhi: Digital commerce market in India is expected to cross Rs 1 lakh crore this year. Growing preference towards online shopping helps digital commerce market to a great extent. According to a recent report, in the year 2014 digital commerce market in India had grown 53 per cent to Rs 81,525 crore.
A joint report by IAMAI and IMRB International added that by the end of 2015, this is expected to raise further by 33 percent and cross Rs one lakh crore.
Digital commerce market saw a steady growth from 2010 to 2013. Rs 26,263 crore in 2010 raised to Rs 47,349 crore in 2012 and to Rs 53,301 crore in 2013. Over 61 per cent that is Rs 50,050 crore of the total market was accounted to online travel. E-tailing segment saw growth by 29.4 per cent.
"Significantly, e-tailing has grown by around 1.4 times over 2013 and constitute nearly 29 per cent of the overall share," the report said.
In the year 2014, E-tailing segment was dominated by mobiles and mobile phone accessories (41 per cent or Rs 9,936 crore) in sales. It is followed by apparels, footwear and personal items (20 per cent or Rs 4,699 crore) in 2014. The report confirmed that consumer durables and kitchen appliances added another 14 per cent or Rs 3,404 crore.
Digital consumer devices like laptops and tablets contributed Rs 2,780 crore. Home furnishing and books contributed Rs 1,059 crore and Rs 648 crore. The report confirmed that 45 percent customers, who shopped online preferred cash on delivery as the mode of payment. 21 per cent said that they preferred debit card payment, 16 percent credit card, 10 per cent Internet Banking and 8 percent through other modes like prepaid cash cards and mobile wallets.
The report said that in 2014, segments like financial services, matrimony and classifieds grew at 5.5 per cent and one per cent.
"The financial services market has grown at a CAGR of 20 per cent since 2010. This market was valued at Rs 4,508 crore. On the other hand, the classifieds market has seen significant growth and is valued at Rs 896 crore by December 2014," the report said.
Since 2010 with a CAGR of 73 per cent other market services had grown and by 2014 it was valued at Rs 2,025 crore. Service categories like online entertainment ticketing, online commuting, online food and grocery deliver belongs to this segment.
Last year, maximum growth in emerging service marketing was witnessed by online food delivery market (40 per cent). By the end of 2014 online food delivery market will be valued Rs 350 crore.
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3 years ago on
Role of Digital Marketing in e-commerce
Driving or walking all the way to the shop, spending hours to purchase a thing or two and then waiting in the long queue to pay for it..
This was what shopping meant to everyone until e-commerce happened and then, the shopping routine changed to –
Going through different websites, purchasing products with a click and then paying online and waiting for the product to be delivered..
E-commerce makes it convenient for customers to shop at home and hence, it is trending. Due to its popularity, almost all businesses have gone online. But to list the businesses that made it big in the field of e-commerce, there may be very few of them; the reason? Most of them forgot a major element to their success- DIGITAL MARKETING!
Are you wondering what difference digital marketing can make to your e-commerce site? Let’s check out these aspects of digital marketing for e-commerce:
“ It takes months to find a customer and only seconds to lose one”
You create an e-commerce website and then you wait for customers to flock in and shop things from your site just like a physical shop! This dream of yours could have come true only if your website is the only E-commerce website existing online. But, unfortunately, it is not.
Marketing through online ads and various other methods may attract some web traffic. But, even that very small number of users may not stay in your website for long if they don’t find it easy to use. Greater the user experience, more will be the number of visitors to your website and for that, you need to have enough functionalities. Confused, are you? Well, don’t be. Improving the functionalities of your website is also definitely a part of digital marketing.
“ If you make customers unhappy in the physical world, they might each tell 6 friends. If you make customers unhappy in the Internet, they can each tell 6,000 friends”
That is the power of social media. Social media platforms are where you can find your customers belonging to the younger generation. Through proper marketing techniques, you can easily spread the word about your e-commerce venture in social media and win customers, causing your business to flourish. Therefore, social media marketing is always a great choice for brand building and word of mouth publicity.
“ Building a website without SEO is like building a road without direction”
Yes, it is true because you are not famous! Not everybody online knows you or your business. For people, to reach a website, it all starts from the search engine and it is common for them to click only those websites in the first page of the search results and just because you own a website doesn’t mean that you are there in the first page. That’s where Search Engine Optimization (SEO) and PPC (pay per click) come to our aid.
“ Success is the sum of small efforts, repeated day in and day out”-R Collier
Success can’t come to you in a day and being a newcomer in the e-commerce field, you may be very well aware of it. It is not at all a loss if you really spend a very small amount of your money in the process. Yes! We are talking about affiliate marketing here, where an affiliate places your ad on their website and when a customer clicks the ad and converts the sale, it is tracked. The affiliate then gets a commission while you get a sale!
“ A satisfied customer is the best business strategy of all”-Michael LeBouef
When it comes to business online or offline, customer is the king. If you happen to satisfy your customer’s need, you win. Digital marketing gives you the opportunity to connect directly to your potential customers. This in turn helps you in knowing what the customers think about your business and what they expect from you. Thus you can improve your online business and reach greater heights.
Creating an online presence for your e-commerce business isn’t that easy as you think, especially when you don’t know the ABCs of digital marketing. You can’t act “I-know-it-all” when it comes to business and you will have to depend on a team of experienced people well versed with digital marketing such as JointViews.
We keep track of the latest trends in digital marketing and hence our approach is always result oriented to make your presence felt online. Our team of content writers, SEOs, animators, graphic designers and word press developers make it possible through our efforts. If you are still doubtful of what we are capable of or if you think you need our service, feel free to Contact Us.