New Delhi, Jul 29: With an internet user base of about 475 million as on 2018, the second largest the user base in the world, a need has been expressed for developing an Indian e-commerce model.
Despite this extensive internet reach, Indian e-commerce penetration is substantially low in comparison to other nation like the USA and France. Given this fact, e-commerce companies feel the need to develop an Indian e-commerce model which is more flexible yet sustainable.
Echoing this, Yuvraj Aman Singh, CEO, Rocking Deals says “India is fundamentally a different retail market when compared to the USA! The USA has been a consolidated large-format modern retail market for decades now, with few leaders in every category. On the other hand, Indian retail is run by more than 12 million mom & pop stores! This is an evident difference which can’t be ignored.”
The trends show that cash on delivery is the most preferred mode of payments for the consumer who buys goods online from bigger brands. However, there is a huge chunk of unorganized retail trade that splits with the online and modern retails that goes untapped to boost e-commerce in India.
The mid-size and small retail sector that operates and penetrates in the wide geography of India remain un-synced with the e-commerce optimizations. This mid-size retail sector has low -headcounts, low overheads, and flexible margins, but what they lack is online presence and digitization to sell their goods and maintain online inventories.
Yuvraj Aman Singh feels that the immediate call is to converge this lapse and develop a bridge to bring the two ends together by establishing an online e-commerce solution that is accessible to all retailer and help them reach out to their customer with ease. This will automatically bring down the rising losses of the retailers, giving them equal opportunity to benefit from the growing e-commerce preferences and in turn, this will quickly give substantial growth to Indian e-commerce globally.
“Instead of doing a “cut & paste” of the retail model from western countries, India needs to evolve it’s very own online commerce model which enables the 12 million+ retailers to step up the value chain and reach out to online buyers without incurring significant overheads. We need a model which helps generate more jobs and bring value addition to every stakeholder dependent on the retail industry, and not just a few who are deeply funded by international investors and can reach their target audiences in no time,” he said.
One such attempt is made by Rocking Deals, among the largest certified refurbished and excess inventory brand in Asia which establishes a hybrid model for its franchise stores capturing tier-2 and tier 3 cities.
Rocking Deals has successfully established retail stores where the retailer can sell products in-store as well as online establishing an eco-system that will align customer shopping experience and retail partners’ sustainability.
One such step Rocking Deals are taking is to provide training and access to online sale to their partners in retail in tier 2 and tier 3 cities allowing them to expand their customer base and at the same time help in the overall growth of the industry.
Talking about the hybrid stores Mr. Yuvraj Aman Singh says” We always had the idea of developing a mix which solves the trust factor of the customer by seeing the product physically, the comfort of buying online and opportunity for our retail franchises to sell goods both online and offline anywhere in the country. This sustainable module was only possible through our offerings of hybrid stores that we are establishing slowly and steadily across the country, keeping intact the faith of retail and giving access to e-commerce across the demography.”