E-Commerce, The Changing Paradigm: Driving Consumer Empowerment
This post is from Neha Sethi who is our Director Marketing’s Pen, based in India.
Teleperformance India sponsored and vigorously participated in the 10th Indo-US Economic Summit organized by Indo-American Chambers of Commerce to promote convergence and connectivity in Indo-US economic relationships. Sanjay Mehta, Managing Director Teleperformance India and Regional Vice President, Indo-American Chamber of Commerce chaired an integral session on e-Commerce, The Changing Paradigm: Driving Consumer Empowerment. He also inaugurated the summit with a vote of thanks and added value to the session ‘education and skill development’.
The session on e-Commerce concluded during the IACC 10th Indo-US economic Summit has left us with a lot of promise. This confidence stems from the reverberating session that we addressed during the summit; it just re-assured that this spreading like wildfire vertical is changing the paradigm of the Indian Market, empowering the Consumer towards easy, every-kind, and everyone’s commerce.
With the ever increasing support on Data and connectivity from the Telecom sector, e-Commerce is redefined as Easy commerce for the Indian consumer!
India is the second largest mobile phone market with more than 930 million customers (2014). What is far more interesting, that 75% of the total e-Commerce queries registered are through mobile applications! The growth in internet usage in India, largely on mobile devices, is the key driver for e-commerce growth. Teleperformance witnessed this enthusiasm first-hand, by allocating a volley of questions from the live audience, to its eminent Speaker Panel.
The panel constituted of CEOs from the most popular e-Commerce sites, a subject matter expert from leading Search Engine- Google, an Analyst from Everest, exploring its potential for the Contact Center Industry, and CEO of a thriving Angel Investor firm taking increasing interest in the rising names in the e-Commerce world in India. The panel excitedly answered all queries, dispelled a lot of doubts and brought a lot of clarity to the audience.
Interestingly, what came out suggested that non-metros were the emerging destinations for the growth of e-Commerce in the country. Cash on delivery (COD) model supported with a consistent effort of the e-Commerce giants to provide a great delivery experience, has definitely helped in changing the game in India. So much so, we discovered that over the next three years, online marketplace expects 90 per cent of its order to come through mobile devices.
The e-Commerce industry is seeing phenomenal success in India, growing at a rapid pace and changing the dynamics of consumer engagement .
In the coming years, e-commerce is expected to contribute close to 8-10% of the total retail segment in India. And according to a recent report from IT research and advisory firm Gartner, the e-Commerce market is expected to grow 70 per cent and touch $6 billion in 2015 globally.
So the stage is set! We are in the lead, as the only name exerting tirelessly to offer enhanced customer experience. Exciting times are here.
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Contributor: Neha Sethi @nehacsethi