DECEMBER 20198he Asian region has become a hot-bed for rapid e-commerce growth. E-commerce space in Asia could hit $1.3 trillion by 2021. According to some, the South-east Asian region would grow at 32 percent CAGR, reaching about $88 billion by 2025, Indian shores have taken up e-commerce strongly. Here, the market is slated to reach $64 bil-lion by 2020, $200 billion by 2026, and surpass the U.S market by 2034.So, what's driving this growth?High Internet Penetration and Tech Adoption: Internet penetration is growing at a rate of about 24 percent across urban and rural areas. What this means is that every year there is a new slice of customers coming in. There new acquisi-tion and expansion for grabs. And the way to get these customers, who are more open to experimenting with different brands, is to give them a delivery experience they can be in awe of. It can be done, only, by using the proper technology to plan, move, and track orders.In general, people are now more tech-savvy and are inclined to use it to make their everyday lives simpler. The same people are more inclined to give a premium for such convenience and quality. What's more? When the people who desire convenience watch companies like Amazon, Apple, and Google go the extra mile to make it happen, they become loyal to these compa-nies. Investing in technology, be it for logistics movement or customer solutions, is a surefire way to grow market share.High Demand with Dwin-dling Stationary Retail SupportWe had just looked into some loom-ing and some latent need for higher convenience. This is for a popu-lation which has more disposable income than their preceding gen-erations and aren't as utilitarian as before. A Nielsen report suggests a high percentage of customers in Asia would readily pay a premium for an innovative product or ser-vice, including and not restrict-ed to speedy package deliveries. The buying experi-ence has evolved, and people are looking beyond the limited assortment as stationary retail outlets. They want to explore more and make decisions when they deem it right.As e-commerce companies have reduced ware-housing or stocking costs, they actively try to reduce logistics costs to offer competitive pricing for each of their published products.This, however, doesn't mean that stationary retail is becoming extent. It's just that the way we see retail has changed. Now retail is an omnichannel model of online and in-store shopping. Brick and mortar has been re-placed by click and mortar.Sanghvi holds acute interest in learning more and preaching about enterprise software, entrepreneurship, and global SaaS productsWHY HAS E-COMMERCE GROWN SO MUCH AND WHAT YOU SHOULD BE DOING ABOUT IT?By Dhruvil Sanghvi, CEO, LogiNextTDhruvil Sanghvi, CEO IN MY OPINION
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