Home / Knowledge / News / Apparel/Garments / 'Indian e-commerce needs to recalibrate long-term focus'
'Indian e-commerce needs to recalibrate long-term focus'
21
Jan '16
Anand Chandrasekaran/C: LinkedIn
Anand Chandrasekaran/C: LinkedIn
E-commerce major Snapdeal's Chief Product Officer Anand Chandrasekaran believes that within a decade, India's consumption GDP will be $2.5 trillion, of which, 10 per cent will be online and e-commerce will play a definitive role in addressing this $250 billion consumption gap. He quoted a recent Goldman Sachs report that said e-commerce has become one of the undisputed mainstays of the Indian economy - the sector is poised to grow at a 41 per cent CAGR over FY'15-'18.

In an article posted on Linkedin, Chandrasekaran says that starting in 2016, the Indian e-commerce sector will need to recalibrate its focus on a long-term vision to ensure consumer delight, business scalability through reliability and frictionlessness and profitability. “Businesses will have to ensure bringing in innovative consumer-centric solutions to provide an enhanced experience for all stakeholders. In the process of laying the roadmap to create the most impactful digital commerce ecosystem, there are four focus areas which will require special attention – Digital payments, O2O & Omnichannel, Vernacular interfaces, and predictive analysis.”

Chandrasekaran stressed on digital payments creating value added transaction experiences for e-commerce. “From card on delivery to greater adoption of digital wallets, payment has become an active playground for e-commerce players to ensure value added transaction experiences. Focusing on improving customer experience, 2016 will see introduction of more efficient digital payments solutions.”

One impact of this will be on the financial supply chain and refunds mechanism, he wrote. Banks are already assisting in building this through IMPS transactions that allow bulk refunds to be processed faster, even allowing under one hour refunds in certain cases. In 2016, faster cash transaction solutions will be developed for sellers and merchants as well. For instance, banks can collaborate with e-commerce logistics partners to strengthen financial supply chain. This will allow faster collection and entry of cash in the banking system as well as efficient technology integration for its early disbursal to marketplaces, and thereby the seller community.

At the same time, forecasts that suggest the mobile wallet market in India are expected to reach $6.6 billion by 2020 (India Mobile Wallet Market Forecast and Opportunities, 2020) indicate greater adoption of wallets as a simplified and secure digital payment option. With various payment solutions such as HCE (Host Card Emulation), NFC (Near Field Communication), BLE (Bluetooth Low Energy) and QR (Quick Response) code, digital wallets have already created value through single touch and secure payment solutions, cash back deals, among others. “The future is in solutions like 'On the go Pin' which are not only compliant with RBI's two-factor authentication mandate, but also faster and safer than existing technologies like MPIN, by-passing the need for OTP in online and offline commerce,” he wrote.


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.6%
No
13.4%
Skip
9.0%

Total Votes: 67

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.2%
No
28.4%
Skip
10.4%

Total Votes: 67

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.1%
No
10.4%
Skip
4.5%

Total Votes: 67

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.6%
No
11.9%
Skip
13.4%

Total Votes: 67


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search