E-commerce IndustryChanging the way business is transacted, whether in retail or business-to-business, locally or globally.
The e-commerce has transformed the way business is done in India. The Indian e-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. Much growth of the industry has been triggered by increasing internet and smartphone penetration. The ongoing digital transformation in the country is expected to increase India’s total internet user base to 829 million by 2021 from 445.96 million in 2017.
Although many industries struggle during weak economic periods, e-Commerce companies does relatively well. Typically, during lackluster economic times, most corporations aggressively seek cost-cutting strategies. As such, they are often eager to upgrade their IT capabilities, which usually leads to improved operations and expense reduction. Thus, e-Commerce companies can receive large orders during lean economic times, and a few may even post record revenue and profits. In addition, several companies within this group derive a good percentage of their profits which can help them weather domestic challenges.
- Finding the right customer to sell. Online retailers put a lot of focus on communicating product offering as well as promotions, but prospects need more than that. .
- Attracting the perfect customer as lots has changed including the way they consume content and communicate online. They get easily distracted with technology and social media.
- Retailers must figure out where their audience is and how to attract them efficiently without killing their marketing budget.
Retailers can no longer rely one type of channel to drive traffic to their online store. They must effectively leverage SEO, PPC, email, social, display ads, retargeting, mobile,search engines and affiliates to help drive qualified traffic to their online store.
- With conversion rates ranging between 1% to 3%, they must put a lot of effort in generating leads in order to get the most out of their marketing efforts.
Retailers must constantly optimize their efforts in converting both email leads as well as website visitors into customers and must implement tactics to help them get the most out of their customer base in increase customer lifetime value, Retailers wanting to achieve growth must be built on a good technology foundation. They must choose the right shopping cart solution, inventory management software, email software, CRM systems, analytics. And finally attracting and hiring the right people to make it all happen.
Upturn Private Limited is a lead generation company delivering remarkable customer experience since 4 years. Our approach and methodologies will help you increase in your Business Growth, more Website Traffic, Brand Awareness and Generate Leads with qualitative data driven results.
#201, Sree Nilayam