Is the Next Generation considering doing business online?

Posted by Marcabees on February 3rd, 2017

E-commerce is a quicker way of selling, buying and finding products in this digital era. With low operational costs, no geographic limits and better service, the model of e-commerce has blend in our society.

We have already discussed the Pros & Cons of E-Commerce in our previous article. However, we are going to shed some light on e-commerce for manufacturing and industrial goods and how the next generation perceives this industry on online platforms.

According to a report in February 2016, India became the second biggest market for smartphones in terms of active unique smartphone users. Surpassing 220 million users, India is just behind the United States of America.

These statistics clearly conveys that Indians consume a lot of digital content. Major foreign e-commerce platforms like Amazon have entered the Indian market and made a fortune for themselves, clearly indicating the potential in the Indian market. Smartphone owners in India majorly belong to the age category between 18 to 65. Hence, showing great diversity in the Indian market.

Agriculture as an occupation always had vast popularity and importance in India, as around 75% of the population is directly or indirectly involved in the occupation. In a developing country like India, where major cities are developing rapidly, construction as an industry has seen giant leaps forward in the past decade.  With the rise in disposable income among citizens, India has also seen massive growth in the automotive, manufacturing and the industrial segments. All these industries have operated in a conventional manner for a couple of decades.

However, with the rise of smartphone, tablets, laptop sales, Indians are exposed to a variety of digital content and eCommerce Applications in this internet era. It is observed that many young entrepreneurs in India have dived into the e-commerce market segment rather than setting up a conventional brick-n-mortar retail outlet. Established businessmen who received enormous success in their retail stores have also started building an online presence because they have realised the potential of eCommerce and are in line with the futuristic way of conducting their sales & purchase operations.

The final leg of this eCommerce will truly belong to those who potentially adopt the method of doing business online as there is vast potential to reach prospective buyers as well as sellers, especially the B-2-B segment.