Source | Entrepreneur : By Sanchita Dash
India’s start-up unicorn list sees three e-commerce players marking their spot. They have played an important role in boosting the start-up ecosystem of the country. However, their growth stories are filled with twists and turns. Reports of losses even while they continue to grow, have had many experts question the journey of these start-ups.
The challenges faced by the Indian e-commerce industry are not new. Even then the segment caters to the second largest market in the world. As the players continue to grow, venturing into newer aspects and finding better avenues for customer acquisition, Entrepreneur Indiaspoke to experts about how the sector plans to jump the hurdles that come its way in 2018.
Say Goodbye to Monopoly of Sales
E-commerce currently focuses on two major things for customer experience – offering the lowest prices and fastest shipping. However, factoring in both these elements also makes it difficult for e-commerce players to work towards profitability. Saahil Goel, CEO, and Co-founder, Kraftly, believes that while doing this, entrepreneurs often end up concentrating on a few thousand large distributors and manufacturers who eventually gain success or achieve their goals from online sales. He believes that in this rut, e-commerce players forget about the SMBs who hold an unique and diverse inventory. They could bring their entrepreneurial spirit to commerce and could offer a more direct and cordial customer experience. And that’s where they need to focus on in 2018 – build e-commerce by enabling sellers from all available channels.
“There are new demand channels such as Facebook, Google, and Whatsapp that house the next 100M digitally enabled Indian consumers. By enabling long tail sellers to reach these new set of buyers, e-commerce players can create a new wave of trade that currently happens largely through traditional channels,” said Goel.