Your Monthly Fix Of E-Commerce News | January 2017
As 2016 prepared to bid us goodbye, India overtook the USA in terms of internet users. At 227 million people, India’s internet user base is now the second largest in the world after China. Now THAT is E-Commerce news worthy.
The E-Commerce industry is on a rapid growth trajectory if you consider the sheer potential that lies within India. Businesses are evolving at breakneck speed, and so is the adoption rate of E-Commerce. Whether you own an online business, or you wish to take your offline store on the Internet, it pays to stay invested in the latest news from the industry.
With our monthly updates, stay updated about all the buzz related to E-Commerce right here on the Zepo blog.
Top E-Commerce news from January 2017
MasterCard will increase its investments in India, and have reported a 30% growth rate in the last two years. The company is looking to leverage movie launches and sponsor local sports as a part of its marketing campaign.
Currently, Mastercard has veteran Bollywood actor Anil Kapoor and his daughter Sonam Kapoor as its brand ambassadors.
- G-20 has for the first time asked various countries, including India, their views on e commerce. India does not allow foreign investment in business to consumer E-Commerce retail. Amazon and foreign investor-funded Flipkart function as marketplaces.
According to G-20’s analysis, the growth of E-Commerce industry has been uneven because of a lack of custom international accounting standards that hamper the collection of economical statistics of the industry.
- Flipkart remains most popular e-commerce brand in India. Several reasons including higher brand recall, better product assortment and lower prices have helped Flipkart outperform their rivals.
- Digital wallets are suddenly sprouting up everywhere, but bigger changes are to come following Demonetization. People, by and large, see demonetization as an effective means to root out tax evasion and counterfeit currency, which has been linked to terrorism.
- Despite whopping sales during the festive season, India’s e-commerce firms are struggling with mounting losses mainly due to costs involved in advertisements, crazy discounts.
In spite of a huge spike in sales, companies like Flipkart & Amazon registered heavy losses and massive employee remuneration expenses.
- After E-Commerce, India is Ready for O2O Commerce. O2O (Online to Offline) commerce lets customers hunt for bargain deals, discounts and offers online for offline stores and retail outlets.
It has given businesses a new and effective method to engage their target audience. Since this interaction is beneficial for all, it is hardly surprising that O2O is fast gaining momentum in India.
- Despite the growing success of domestic e-commerce platforms, a new PayPal and Ipsos study finds that Indian shoppers are spending heavily through overseas e-commerce sites, Quartz reports.
In fact, Indian shoppers spent more than $8.7 billion on international e-commerce sites in 2016, a 6.7% increase compared with 2015, the report found.
- Idea Cellular to launch its own E-Commerce platform to sell smartphones, mobile services. Idea Cellular is India’s number three telecom operator.
Idea will have its own E-Commerce platform for mobile services and devices this year in a bid to transform into a digital services provider and counter the threat from Reliance Jio Infocomm.
You just checked out the top E-Commerce news stories in India for the month of January 2017. Get your monthly dose of information right here at the Zepo blog as this section will be regularly updated every month with relevant E-Commerce news snippets.
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