"The trends are moving from brick and mortar retail bouncing back with show rooming to web rooming, higher adoption of B2B commerce and omni-channel solutions bringing best of both worlds of online and offline retail and also be a win-win for consumers and businesses," said Natarajan, Enterprise Sales Leader from Magento Commerce - India/South Asia, at a round table discussion on 'Omni-channel Retail and E-commerce Trends in India' in Bangalore, attended by retail and e-commerce experts. The event was organised in association with Embitel Technologies Ltd.
"E-commerce is not a channel to grow your sales but it is to engage with your customer that means the content, the engagement and the experience given to the customers by adding some sort of marketing automation, personal experiences which are critical," Natarajan added.
According to experts from the retail and e-commerce industry, it is projected that e-commerce in India is expected to grow more than 20 per cent in 2018-19 from its current size of $33 billion to become a $200 billion e-commerce market by 2027 with over 20 per cent CAGR over next 9 years, translating into a 12 per cent online penetration within retail sales, Magento Commerce press release stated.
He also highlighted on how traditional businesses in India learning from global case studies, will challenge online market places by setting up their own enterprise grade e-commerce portal to engage with customers to grow business, improve customer engagement and expand reach. He has also projected 2018 will be the year of B2B commerce for enterprises driven by B2B consumers demanding B2C experience for B2B and GST roll-out mandating businesses to transact and reconcile digitally.
"Embitel continues to believe in omni-channel as the game changer for the ecommerce landscape and during the course of this event, AI and personalisation emerged as the driving forces of the next wave of e-commerce growth. Embitel is geared to help with implementation of AI-driven e-commerce solutions," Sharad Bairathi, MD, Embitel Technologies Ltd., said.
The experts at the event discussed the challenges and future of omni-channel and highlighted on businesses to focus on engaging the customer at all levels to give a seamless and superior shopping experience to customers. They also discussed on the trends in brick and mortar business and how it is important for these businesses to innovate and engage with the customers and understand customers' needs and wants. (RR)
Fibre2Fashion News Desk – India
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