{"id":36532,"date":"2020-07-01T10:15:06","date_gmt":"2020-07-01T04:45:06","guid":{"rendered":"https:\/\/www.opendesignsin.com\/blog\/?p=36532"},"modified":"2021-03-15T13:50:27","modified_gmt":"2021-03-15T08:20:27","slug":"how-e-commerce-benefits-the-retail-industry-and-its-customers","status":"publish","type":"post","link":"https:\/\/www.opendesignsin.com\/blog\/how-e-commerce-benefits-the-retail-industry-and-its-customers\/","title":{"rendered":"How E-Commerce benefits the Retail Industry and its Customers"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e79721c7681\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ed2327;color:#ed2327\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ed2327;color:#ed2327\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e79721c7681\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.opendesignsin.com\/blog\/how-e-commerce-benefits-the-retail-industry-and-its-customers\/#Fast-Paced_Growth\" title=\"Fast-Paced Growth:\">Fast-Paced Growth:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.opendesignsin.com\/blog\/how-e-commerce-benefits-the-retail-industry-and-its-customers\/#Revenue_Projections\" title=\"Revenue Projections:\">Revenue Projections:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.opendesignsin.com\/blog\/how-e-commerce-benefits-the-retail-industry-and-its-customers\/#Scalability\" title=\"Scalability:\">Scalability:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.opendesignsin.com\/blog\/how-e-commerce-benefits-the-retail-industry-and-its-customers\/#Information_Exchange\" title=\"Information Exchange:\">Information Exchange:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.opendesignsin.com\/blog\/how-e-commerce-benefits-the-retail-industry-and-its-customers\/#The_preferred_model_for_the_current_generation_of_Shoppers\" title=\"The preferred model for the current generation of Shoppers:\">The preferred model for the current generation of Shoppers:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.opendesignsin.com\/blog\/how-e-commerce-benefits-the-retail-industry-and-its-customers\/#Key_Areas_of_Improvement\" title=\"Key Areas of Improvement\">Key Areas of Improvement<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">There has been a huge surge in online sales in 2020, due to the COVID 19 Pandemic. Even after the relaxation of restrictions, people have still turned to E-Commerce, valuing their safety. <\/span><span style=\"font-weight: 400;\">E-Commerce website development companies<\/span><span style=\"font-weight: 400;\"> are giving retailers, continued hope in this drastically changing environment.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fast-Paced_Growth\"><\/span><b>Fast-Paced Growth:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Brands like WOW Skin Care, Mama Earth, BoAt, have hit the Rs.100 Crore Revenue mark within 2-3 years of going Digital. They used the services of <\/span><span style=\"font-weight: 400;\">E-Commerce Website Development Companies<\/span><span style=\"font-weight: 400;\">. This fast-paced growth is purely through Content Marketing through Social Media like Facebook and Instagram. Such growth attracts investments from serious investors.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Revenue_Projections\"><\/span><b>Revenue Projections:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A study conducted by Oberlo compiles all the most compelling E-Commerce Stats. An estimate of 2.14 Billion people will be shopping online by 2021, the revenue of which could be 17.5% of all retail sales in the world. This is a very conservative estimate, especially now that we are hit by the COVID 19 pandemic.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Scalability\"><\/span><b>Scalability:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">By eliminating the need for physical expansion, the huge overhead costs of running multiple physical stores are reduced. The revenue can be diverted to upscaling the E-Commerce line into various verticals. A good <\/span><span style=\"font-weight: 400;\">E-Commerce Development Company<\/span><span style=\"font-weight: 400;\"> will ensure that you can scale up in the following 3 areas.\u00a0<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\"><b>Size: <\/b><span style=\"font-weight: 400;\">No geographical barriers, meaning you can go Global while running operations from a single store. All you need is a seamless supply chain.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Time: <\/b><span style=\"font-weight: 400;\">No time restrictions, making your services and products available 24&#215;7. It is a convenient arrangement for the customers, as it gives them the freedom to shop at their whim and will.\u00a0<\/span><\/li>\n<li><b>Inventory: <span style=\"font-weight: 400;\">The inventory can be diversified to hold almost anything without any restrictions on space and brands. You can offer brands that have now recently assumed a Digital-First approach.<\/span><\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Information_Exchange\"><\/span><b>Information Exchange:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">E-Commerce allows retailers to educate customers about the products they carry. This is not possible in Offline shopping. Customers can read the info and make informed choices. This is crucial in establishing a good reputation with the end-users.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_preferred_model_for_the_current_generation_of_Shoppers\"><\/span><b>The preferred model for the current generation of Shoppers:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">India has a favorable demographic that Retailers can use as the perfect tailwind to launch their Online portals. The attractive discounts and ability to compare prices across different suppliers has led to increased demand for E-Commerce. Statistics showing customer preference are,<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A Third of 21,480 respondents in the 2019 Global Online Consumer Report by KPMG, almost a Third used online shopping at least once in a week. Their numbers are increasing by 5% every year.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Over 75% of Millenials and GenZ population, actually preferred online shopping as it offers them privacy and has the convenience of being open 24&#215;7.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">65% of consumers actively compare online prices even while shopping at a physical store. Online stores tend to give more discounts as overheads are low.\u00a0<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Key_Areas_of_Improvement\"><\/span><b>Key Areas of Improvement<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Although we do see exploitable potential in E-Commerce for Retailers and Customers, it has its fair share of obstacles, preventing low scale retailers from accessing it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Choosing a good <\/span><span style=\"font-weight: 400;\">E-Commerce website Development company<\/span><span style=\"font-weight: 400;\"> that has a direct understanding of their business and can build a custom E-Commerce Website for them.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Evaluating the output quality of suppliers they are partnered with.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finding a reliable logistics partner for timely, hassle-free deliveries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Internet penetration is only 74%, leaving a chunk of people inaccessible to the online market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Resistance to cashless transactions and revealing personal data, fearing data security.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The personal experience and banter they enjoy with their local vendors.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the technical gap is easily bridged, as the current generation is accepting technological penetration.\u00a0 It is the Emotional Bridge that has to be achieved, by strategically reinforcing the benefits that E-Commerce has to offer. OpenDesigns is one of the most sought after <\/span><a href=\"https:\/\/www.opendesignsin.com\/\"><strong>E-Commerce Website Designing Companies<\/strong><\/a><span style=\"font-weight: 400;\"><strong> in India<\/strong> with 20+ years of experience. We specialize in building custom E-Commerce platforms that organically boost your brand&#8217;s reach. If you are a retailer looking for the <\/span><span style=\"font-weight: 400;\">Best<\/span> <span style=\"font-weight: 400;\">E-Commerce Development Company in India<\/span><span style=\"font-weight: 400;\">, Contact us via &lt;Envelope icon&gt; on the upper right of the page, for a Consultation.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There has been a huge surge in online sales in 2020, due to the COVID 19 Pandemic. Even after the relaxation of restrictions, people have&#8230;<\/p>\n","protected":false},"author":2,"featured_media":36536,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[745,740],"tags":[653,536],"class_list":{"0":"post-36532","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-b2c-marketing","8":"category-e-commerce-design-and-development","9":"tag-ecommerce-web-development-company-in-chennai","10":"tag-web-design-company"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How E-Commerce benefits the Retail Industry and its Customers - Open Designs India<\/title>\n<meta name=\"description\" content=\"A debate on impact of E-Commerce on Retail businesses and its Customers. 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