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4 Reasons Why Is India A Top Destination For E-Commerce Companies

There is no arguing in this, India is a hot e-commerce destination for many businessmen, and every day we wake up to find out that more & more companies are moving into the e-commerce space of India. The e-commerce industry of India has a lot of potential and it is currently a multi-billion dollar industry that will soon touch new heights in upcoming years. It is estimated that by 2030, the Indian e-commerce market will account for about 2.5% of the GDP of the country.

If the Indian e-commerce industry has so much potential then there must be several reasons behind that because business people aren’t fools and they would never make an investment in such a place where they will have to suffer losses. So, what are the reasons behind India being a top destination for e-commerce as compared to other countries? Let’s find out by taking a detailed look into factors that make India a top destination for e-commerce companies:

1. Changed Shopping Experience

In the past few years, the shopping experience has changed in India. In the past, shopping used to be an activity that people used to enjoy by going out with their friends or family members and having fun by wandering in the Bazaars but that has completely changed because of the digital influence.

Digital technology has made shopping more of an online, solo activity that one can conveniently do without even having to leave his/her bedroom. This concept of being able to shop from anytime-anywhere has given a boost to the industry and because India has a huge population, it all leads to more profit and revenue for the companies. 

Plus, the Indian e-commerce industry is growing exponentially and it is the reason that India is becoming one of the largest consumer markets in the world and all of this is because of digital technology.

2. Rise Of Online Payment Gateways & Digital Wallets

Another contributing factor to all of this is the rise of online payment gateway and digital wallets. Not only in India but in every country of the world, people are now using digital wallets for their convenience and safety. In India, we have digital and mobile wallets like Paytm, Mobikwik, Ola Money, etc that are being used by people for quick and convenient payments.

Along with these wallets, there has also been a rise in other forms of online payments, especially with banks coming up with online wallets of their own. Plus, the current generation prefers to do everything online, even play board games like Words With Friends, over the internet, through smartphones rather than going out and this is the reason why companies and online wallets are flooding users with discounts and cash backs.

3. Festival Season

India is a country that is full of diversity. You will find people belonging to all sorts of cultures, religions, and faiths in the country. All across the year, you will find that India has festive and wedding seasons spread across. Just like the Holidays season in the Western countries means more shopping and more sales, the festive season and wedding season in India are also the same and because of the diversity of this land, there are so many opportunities for retailers. 

These festivals are a great time for retailers to sell their products and since people prefer online shopping over going out to the malls, it means more opportunities for e-tailers to sell almost anything that they want to. Whether it is festive wear or board games that people play on festivals like Scrabble & its helping tools like Scrabble Word Finder, it becomes easy for them to sell their products.

4. Deals & Discounts

As mentioned earlier, e-commerce stores and online wallets provide a lot of discounts and cashback offers to their customers in order to lure them. In India, the whole e-commerce industry thrives on deals, discounts, and cash backs and India has the highest number of customers that use coupons leaving all the other e-commerce leaders behind. This is another reason why India is a top name in the e-commerce industry.

Our country has a lot of potential which is why we are seeing a huge influx of so many top e-commerce players into our country and in the upcoming future, we could be seeing more. It is a huge opportunity for both international and domestic sellers to sell their products and gain revenue but during all of this, niche segments should be focused on instead of generic marketplaces to maintain the integrity of the market and prevent a price war.

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