Looking back at 2022, it was a very eventful year for India, the country bounced back from the #pandemic faster than expected. In face of the uncertainty presented by the pandemic for #retail, it was the #ecommerce that took the centre seat.
The e-commerce sector, in the face of restrictions owing to the pandemic, provided an alternative for sellers and #MSMEs to survive and a channel for consumers to shop during lockdowns.
The pandemic acted as an amplifier for #digitization driven by increased internet penetration, access to low cost smartphones and better opportunities to sellers & #MSMEs. #ecommercebuildseconomy #MSMEgrowth #DigitalIndia
According to @TISSpeak report, digitized SMEs provide 33% more jobs than non-digitized enterprises, with 67% jobs in T1 cities. Digital enterprises enjoyed a 194% increase in revenue when compared to non-digitized counterparts. Read more shorturl.at/jlrX5 #digitaleconomy
This was fueled by the impetus provided by the increased adoption of ecommerce by consumers across the board which is only possible because of the trust of people in online shopping
This trust in eCom is due to 5 factors: •quality assurance •fast delivery • good discounts • low prices & •customer reviews. 77.8% of respondents believe that online shopping is as safe as offline shopping as per @CUTSInstitute Product trust report. shorturl.at/cgGU3
This trust also resonated with the sellers where, according to a report by @SMEForumIndia, titled “#MSMEs & The #FestiveEconomy”, 76% sellers opted to sell their products on ecommerce platforms to survive the pandemic.
The report reveals that 56% #SMEs plan to launch new products during the festive season. 30% of sellers use the ecommerce platform to create a distinct brand identity, 45% use to acquire new customers & 25% use to engage with previous customers acquired through these platforms
The opportunity provided by #ecommerce has majorly been fueled by the ecosystem established by industry giants in the sector, from seamless payments to hassle-free returns exchanges & quality controls even with the #marketplace model. #ecommercebuildseconomy #DigitalIndia
This ecosystem built by ecommerce giants like @amazonIN and other players have been a boon to small sellers and MSMEs by helping them digitize and expand their footprint.
@LloydMathias @amazonIN E-commerce players like #Amazon have played a key role not only in leading Indian brands to scale greater heights across the global business landscape but also helped consumers with ease of convenience, payment options and logistic fulfilment. #ecommercebuildseconomy