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Bhawna Agarwal

Bhawna Agarwal serves as the CEO for Gadgets360.com, the tech e-commerce venture. Being a woman techie in a field dominated by men, Bhawna has truly carved a niche for herself.

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5 Trends that will Propel Indian e-commerce in 2018

Drones and autonomous vehicles, block chain, augmented and virtual reality, increasingly sophisticated digital assistants, machine learning (artificial intelligence, or AI) — are some of the key disruptors categorized under the list of technological mega trends that are here to stay and further grow and expand business output in 2018.

The e-commerce landscape is shifting dramatically across the world, with an increased adoption of smartphones giving rise to a new level of consumer experience. E-commerce companies are now modifying their business models to incorporate different approaches to meet targets. There is a noticeable transition from horizontal business models to hybrid business models. Companies are widening their approach by incorporating technological disruptors such as augmented reality, virtual reality, artificial intelligence, analytics and many more to keep up with the changing consumer pattern and to better position themselves amongst their competitors.

While globally, ecommerce is creating huge momentum, India’s e-commerce market is also witnessing a fast track growth curve. According to a recent report by financial services firm Morgan Stanley e-commerce is estimated to grow over 1,200% to $200 billion (Rs13,30,550 crore) by 2026, up from $15 billion in 2016. By 2026, Morgan Stanley expects India to have 475 million online shoppers, up from 60 million in 2016.

Here are 5 key trends that will propel India’s ecommerce in 2018

#Trend 1 Voice Search and Purchases

Before Siri, nobody imagined that one would actually be buying with voice online. Smartphones allow users to search and act online with a word. It is reported that approximately 40% of millennials have used a voice assistant prior to making a purchase. Going forward as the accuracy of voice search or voice recognition becomes more precise, consumers and ecommerce retailers will reap benefits and its popularity will continue to rise. It is predicted that by 2020, this number will pass 50%. 

#Trend 2 Video Content

We live in a mobile-first culture where video is the fastest growing ad format. Experts believe video will be the next big thing for ecommerce in the coming year as consumers find video content relatable, engaging and relevant. Statistics show that video marketing can boost click-through rates by 200-300% and increase purchase intent by 97%.

Video will make up 80% of all online consumer internet traffic as per estimated by 2020. As the technology improves, video will be the closest you can get to a face to face conversation with your audience.

#Trend 3 Big Data (visual, empathetic, qualitative) to Cloud Computing

In 2017, the idea of transformation of gathered data for better planning of all kind of business and personal activities witnessed better visualization and projection of data. While Big Data presents challenges for digital earth to store, transport, process, mine and serve the data going forward Cloud computing will offer access to data storage, processing, and analytics on a more scalable, flexible, cost-effective, and even secure basis.  

#Trend 4 Technological disruptors

Drones and autonomous vehicles, block chain, augmented and virtual reality, increasingly sophisticated digital assistants, machine learning (artificial intelligence, or AI) — are some of the key disruptors categorized under the list of technological mega trends that are here to stay and further grow and expand business output in 2018.

#Trend 5 The Classic - Interactive Content

In 2018 too, brands need to continue to dive into creative storytelling to drive conversions and differentiate. Online retailers are more likely to adopt interesting content strategies that are shareable to stay competitive and build outstanding customer experience. While original content is the key, curated content in the forms of recommendations, reviews and expert opinions would continue to provide the audience with valuable information about the brand from different perspectives and this would continue to play a vital role in influencing the path to purchase as experts hold slightly higher regard in the mind of customers than a direct brand message.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house


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