As far as the world’s technological landscape is concerned, 2017 had been an incredible year. E-commerce has seen shape shifting advancements in payments technology, computing and mobility. Now, as once seemingly distant science fiction terms like Artificial Intelligence and Virtual Reality take the podium, we have a lot to look forward to.
More so because, a recent report by Morgan Stanley projected that by the year 2020, India will have almost 320 million online shoppers. That’s 6.4 times more than the estimated 50 million shoppers we had back in 2015. E-commerce is clearly the future of retail and we, being an indispensable part of the spectrum, are extremely excited.
Mentioned below are some predictions for the online B2B sector in India:
Performance Marketing To Boom
Marketing and branding activities are a perennial concern for e-commerce sites. Yesteryears however, have seen the advent of performance based marketing efforts which have been a boon. This model of marketing will likely grow stronger due to the profitability it offers. As brands look for better ROI, marketing that drives measurable sales is the way forward for the coming years.
Wallet Usage to Rise
2017 was undoubtedly a year of wallets and payments. Come 2018 this trend will likely grow as more and more Indians adopt digital and cashless payments. While there may not be as steep a rise in wallet usage as there was in 2017, it will surely become the payment mode of choice for a lot more users.
New Categories Will Claim Stakes
Gone are the days when the Indian e-commerce market was limited to like fashion, food and groceries. The growth of companies from niche categories like electronics, tech and gadgets has reached an unseen high. As the first quarter of 2018 has already been wrapped, new entrepreneurs will create, capture and dominate more such categories.