The next wave of e-commerce innovation is here, In India online retailing is experiencing a positive growth. By 2020 it is projected to be a nearly USD 32 billion market as estimated by Technopak. So what will drive future growth of E-tailing in India? We think the answer to this is ‘Innovation’, ‘Creativity’ and ‘Uniqueness’.
In the wake of the massive influx of competition in the e-commerce space, the market is poised to move on to it’s next phase. To up the ante of e-commerce in India, the Indian players need to take the cue from their western counterparts and understand the importance of ‘ democratization of creativity.
Following the suit of international retailers, we need to adapt smarter experiences that tap into the latest and greatest from behavioral economics, big data, and improved technology to adapting to the ways of flash sales, subscriptions, social recommendations, crowdsourcing, advertorials, better targeting of customers, etc.
Looking at creative trends in e-commerce space, we can expect the rise of “creative commerce” (c-commerce). It will be a shift from a two-sided marketplace (BUY and SELL) to a dynamic marketplace (Create, Buy and Sell).
To read about the 50 innovative online retail concepts from across the world, please refer to the December issue of IMAGES Retail magazine.
