Most online shoppers prefer 'offline' route
Did you know that 85% of all online shoppers in India prefer buying products offline?
By TNN |
BANGALORE: Did you know that 85% of all online shoppers in India prefer buying products offline, at the regular brick and mortar stores? To demystify e-commerce and empower businesses with e-commerce, Namos Solutions hosted a day-long seminar — ‘E-commerce and Online Marketing’.
“With 60 million internet users in the country, and with retail booming in the country, e-retailing is definitely the next big thing in the Indian retail story. But factors such as low internet security, low credit card ownership and the lack of alternate online payment options are hindering the growth of e-retailing in India.
“The challenges are many. For instance, you have to bundle your offering in such a manner that it builds loyalty across various purchase formats; must combine benefits such as price, convenience and service; and you must ensure that your logistics are firmly in place,” says Rajeev Gowda, professor, IIM Bangalore.
“The winner would essentially need an offline presence coupled with e-retailing,” he added. Prof Gowda said e-retailing would slow down the brick and mortar formats in specific segments — electronic goods, sports apparel and that technology would make e-retailing much more efficient in the future.
Emphasising on the benefits of establishing a virtual distribution network, Vinod Jain, chief executive officer Namo Solutions said, “A virtual distribution network gives businesses an opportunity to collaborate with partners and give a visibility in inventory, pricing and market demand, keeping the league better informed and positioning them for success.”
“With 60 million internet users in the country, and with retail booming in the country, e-retailing is definitely the next big thing in the Indian retail story. But factors such as low internet security, low credit card ownership and the lack of alternate online payment options are hindering the growth of e-retailing in India.
“The challenges are many. For instance, you have to bundle your offering in such a manner that it builds loyalty across various purchase formats; must combine benefits such as price, convenience and service; and you must ensure that your logistics are firmly in place,” says Rajeev Gowda, professor, IIM Bangalore.
“The winner would essentially need an offline presence coupled with e-retailing,” he added. Prof Gowda said e-retailing would slow down the brick and mortar formats in specific segments — electronic goods, sports apparel and that technology would make e-retailing much more efficient in the future.
Emphasising on the benefits of establishing a virtual distribution network, Vinod Jain, chief executive officer Namo Solutions said, “A virtual distribution network gives businesses an opportunity to collaborate with partners and give a visibility in inventory, pricing and market demand, keeping the league better informed and positioning them for success.”
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
