siliconindia | | February 20198he Asian region has be-come a hot-bed for rapid e-Commerce growth. e-Commerce space in Asia could hit $1.3 trillion by 2021. According to some, the Southeast 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 billion by 2020, $200 billion by 2026, and surpass the U.S. market by 2034.So, what's driving this growth?High Internet Penetra-tion and Tech AdoptionInternet 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 acquisition 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 companies. Investing in technology, be it for logistics movement or cus-tomer solutions, is a surefire way to grow market share.High Demand with Dwindling Stationary Retail SupportWe had just looked into some loom-ing and some latent need for higher convenience. This is for a population which has more disposable income than their preceding generations and aren't as utilitarian as before. A Nielsen report suggests a high per-centage of customers in Asia would readily pay a premium for an inno-vative product or service, including and not restricted to speedy package deliveries. The buying experience has evolved, and people are look-ing 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 warehousing or stock-ing costs, they actively try to re-duce logistics costs to offer com-petitive 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 omnichan-nel model of online and in-store shopping. Brick and mortar has been replaced by click and mortar.Established in the year 2014, LogiNext is amongst the fastest growing SaaS companies providing solutions to manage and optimize logistics and field service operations. WHY HAS E-COMMERCE GROWN SO MUCH & WHAT YOU SHOULD BE DOING ABOUT IT?By Dhruvil Sanghvi, CEO, LogiNextIn my opinionTDhruvil Sanghvi
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