eCommerce
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  • Notes for self: Like the computers age where each process in every industry is on computers.eCommerce will bring the entire Commerce on Computers
  • PersonalNotes:Inventory model has given distinct identity to standalone brands at the same time leveraged big retail players like BigBazaar to cash on it’s inventoryWhereas Marketplace has led to growth of Individual shoppers
  • http://yourstory.com/2013/11/online-shopping-opportunity/
  • http://yourstory.com/2013/11/online-shopping-opportunity/
  • http://yourstory.com/2013/11/online-shopping-opportunity/
  • http://yourstory.com/2013/11/online-shopping-opportunity/
  • http://yourstory.com/2013/11/online-shopping-opportunity/
  • http://yourstory.com/2013/11/online-shopping-opportunity/
  • http://articles.timesofindia.indiatimes.com/2013-12-25/internet/45560828_1_online-shopping-festival-gosf-cyber-monday

Transcript

  • 1. Friday Explorer: eCommerce
  • 2. A virtual extension of the offline Commerce, eCommerce is – ‘Buying and selling of goods and services’ conducted over an Electronic medium
  • 3. eCommerce is the SALES part of a larger system called eBusiness Search Display Advertising eCommerce eBusiness Social Media Presence Website
  • 4. India is on the verge of an eCommerce boom
  • 5. Current eCommerce Scenario − eCommerce industry is valued at $12.5 Bn as on 2013 − It has a staggering growth rate of 85% in 2013 - Every 3 out of 5 internet users in India shop online - India has a young eCommerce audience with 90% in the age group of 18-35 years Source: ASSOCHAM report
  • 6. Future of eCommerce in India - India will have World’s 2nd largest user base in June 2014 with 243 Million users surpassing U.S. - eCommerce to contribute around 4% to GDP in India by 2020 - The sector will generate 1.5 Million jobs by 2020 - eCommerce is pegged to be worth $56 Billion by 2023 - And will control 6.5% of the total retail market by 2023 Source: ASSOCHAM report & KPMG Report
  • 7. Different eCommerce models B2C B2B C2C C2B
  • 8. eCommerce Transaction Process
  • 9. Payment Gateway Process flow 40% of digital transactions are abandoned at the payment stage due to doubts that credit card details are secure
  • 10. Growing influence of M-Commerce in India  Mobile internet users in India to reach 185 million by June 2014  50% of all active Internet users access it via Mobile Source: IAMAI, Jan 2014
  • 11. E-tailing or Online retailing is driving the Ecommerce Industry
  • 12. e-Commerce e-Travel Inventory Model e-Tailing e-Classifieds Marketplace Model Digital Downloads
  • 13. How often people shop Online in India? 75% of respondents buy online at least once a month Source: Baggout.com, Online Shopping Trends India Survey
  • 14. 2/3rd of online shoppers in India buy Clothes and Accessories Electronics is the 2nd biggest e-tailing category with 62%
  • 15. Why do people Shop online? 81% of respondents shop online for Discounts and Cashbacks
  • 16. What stops online shoppers from buying online? 55% online shoppers fear low quality/fake products while buying online and an equal number miss checking the look and feel while buying the product
  • 17. Does friend recommendation influence online buying? 55% online shoppers fear low quality/fake products while buying online and an equal number miss checking the look and feel while buying the product
  • 18. Do people want to see social recommendations while shopping online? Over 2/3rd of respondents would like to see personalized shopping recommendations based on what their friends are buying
  • 19. Factors driving E-tailing in India
  • 20. For Consumers Coupons Sites Deal Aggregator Sites Price Comparison Sites 19 percent of consumers leave a store and look for lower prices online 2 out of 5 women have searched for a product because of an online coupon.
  • 21. For Retailers Online Marketplaces eCommerce Platforms
  • 22. GOSF  A Google's initiative, ‘Great Online Shopping Festival’ is India's version of Cyber Monday of the west  GOSF 2013 reached 16 million Indian shoppers in 4 days  The GOSF website received 2Mn unique visitors with 60% 1st time buyers  62% of shoppers in the age group of 18-34 years with 50% women  The 4 day event saw a conversion rate of 10%
  • 23. Take-away for Advertisers and Marketers…
  • 24. 10 essentials for an Ecommerce portal in India… 1. Offer enticing Deals & Offers 2. Maximum details of Products/Services 3. 360° viewing 4. Quick load time 5. Customer support numbers & Chat support 6. Social Media Links 7. Cash on Delivery / Cash before Delivery option 8. Secure Payment System: SSL certificates, Trust badges 9. Flexible Return policy 10. Stock Meter
  • 25. Usability + Visibility + Conversion = Successful eCommerce business
  • 26. Increase Usability 1. Use Beautiful Photography, 360-degree view for your Products and Services 2. Merchandize Your Products and Services 3. Make Your Website Easy to Navigate 4. Deliver One of a Kind Customer Services
  • 27. Increase Visibility 1. Use Pay Per Click Advertising as a Balance to Search Engine Optimization 2. Pay Per Click Advertising: Use it to balance Search Engine Optimization 3. Integrate Social Media Sharing into Your Store 4. Build a list of loyal customers and offer regular discounts, offers & communication via E-mail Marketing
  • 28. Increase Conversions 1. Master A/B testing to find out what works best on your website 2. Focus on the right copy 3. Offer maximum payment options 4. Every Customer is a King 5. Analyze Conversions
  • 29. Key Learning  ‘Personalization’ is the key to eCommerce  Geo-Targeted offers is the need of the hour  Mobile shopping is the future of eCommerce  Enable customer friendly experiences with enhanced filtering and searching  Create an eCommerce experience for the consumer which is: Mobile, Social and Visual  A customer is weighed in terms of it’s ‘Lifetime’ value  Very soon Brick and Mortar stores will be merely ‘SHOW’rooms with purchases happening online