Top Ecommerce Trends for 2017 in India
Ecommerce trends keep on changing year by year as the E-commerce sector is a booming. Here is the top eCommerce trends that will define 2017 in India:-
* According to many sources, mobile is considered important for e-commerce business as more traffic is driven through it but it doesnâ€™t mean that you can ignore desktop and other platforms. The desktop will remain a secondary touch point for a large percentage of digital audience in some cases for the audiences who either prefers desktop or switches across platforms. So, multi-platform strategy will stay in this year.
* Over the top(OTT) which means delivery of audio, video and other media media content over internet would be be the next big thing in India. Hence, OTT players need to re-define the existing media mix.
In India, the huge success of Hotstar that hit 100 million in viewership this year and also won Apple TVâ€™s app of the year in India, lead to the advent of a number of OTT players like Voot, TVF Play, Spuul, Ditto TV, Yupp TV etc. The international players were not far behind. The year began with the arrival of Netflix in India and is ending with the launch of Amazon Prime Video.
* Globally Offline players made big acquisitions to step up their game in the online world and thereby the competition increases. So, only the who win the competition can continue to be successful. This is according to the fact survival of the fittest which means only fit and strong ones can survive.
* With over $1 billion investments in the space, fintech startups emerged in huge numbers in 2016. Fintech which refer to Financial Technology refers to computer programs and other technology used to support or enable banking and financial services. With the demonetization drive & focus on digital transactions hope FIntech is ready to take off.
* In the last year, Ecommerce industry has experienced the increase in the involvement of Government & its various regulatory authorities. Whether it was marketplaces, e-wallets or insurance players, the influence was quite evident and dictated the economics of business models. This year too regulators will decide the way forward.
Many other trends like surge in senior level exits, shutdowns in foodtech space, newer categories coming online, Jioâ€™s launch etc., is also to be taken into consideration.