India’s booming e-commerce sector is in a precarious position, but there is one thing that could help it thrive: an obsession with fashion.
According to a recent study conducted by the Mumbai-based consultancy and research firm E-Marketer, the country is on track to become the world’s largest e-retailer in 2019, overtaking the US and Japan.
It also shows the success of a growing market, as the survey found that the number of Indian retailers increased by 12% between 2016 and 2020.
This year, the report found that there are more than 1,300 e-Retailers, with over 1,100 operating in the country.
The company, which counts among its core services e-design, e-fashion and e-business development, is expanding into retailing as well.
Airtel’s Ajay Dutta, the company’s co-founder and managing director, said e-marketplaces and ecommerce platforms like Snapdeal have become a core part of his company’s business model.
“We are the first online retail platform to offer a platform where you can order products online,” Dutty told The Hindu.
“We also have a platform in which people can buy clothing online and also accessories online.”
This year has seen an upsurge in e-tailers, as e-tech companies such as Snapdeal and eBiz have become major players in the e-sales market.
There is a shift in the way people buy clothes, Dutties said.
In the past, he said, people would buy products through a retail chain, and then go back and buy them at their local store.
But now, they are looking for brands and designers online.
“In a year or two, they will want a bespoke dress,” he said.
But there is also the issue of the lack of knowledge about the products being sold online.
Airtel, for instance, has no store presence in Mumbai, and there is no one in the city to sell products online.
At the same time, there is an increase in the number and quality of e-products.
There are almost 70,000 e-shops in the Indian market, with nearly 40,000 in the capital, Mumbai.
For the most part, the online e-stores that offer e-dollars are based in Mumbai.
But this is changing rapidly.
There is a huge opportunity in the cities like Delhi, Hyderabad and Chennai, which are rapidly growing in the economy, DUTTY said.
“There is an opportunity in urban centres like Mumbai, where we are growing.
These are places where we will be able to attract more and more consumers.”
For Dutts, the biggest challenge in this new era of ecommerce is educating consumers about the benefits of buying online, whether it is clothes, accessories or shoes.
In an age of online shopping, retailers are trying to capture the customers’ attention through the product, not the brand.
“The consumers need to know about the brand before they buy the product,” he added.