Trends that will dominate the e-commerce space in 2019: Rohit Dhingra
Authored Rohit Dhingra, Co-Founder & CEO, TAGG
A young entrepreneur from Delhi, Rohit Dhingra is the Co-Founder and CEO of TAGG – a fast growing consumer electronics brand. His strong inclination towards technology and a zeal to make it big in life gave him the idea of starting his own company of technologically advanced electronic products. In 2016, Rohit along with his two partners- Amitesh Bhardwaj and Saurav Prakash, founded TAGG with a mere investment of 4 Lakh rupees and after that there was no looking back. Today, with his utmost hard-work, dedication and expertise, Rohit has been successful in making an impact in the Indian market. The brand is already pushing revenue upwards of Rs 12 crores and is all set to enter the US and Japan market by the end of this year.
The e-commerce landscape in India has witnessed a remarkable shift in the past few years. The advancement in payments technology, an increase in the number of smartphones users, deeper internet penetration, millennials’ changing lifestyle and buying pattern have been instrumental in the growth of the e-commerce market in India. With the advent of more advanced technologies like Artificial intelligence and Augmented Reality, the sector will further witness a significant thrust in the coming years.
As per a report by market research firm, eMarketer, India’s e-commerce sector will be worth $71.94 billion by 2022. The current trends showcase that the Indian e-commerce industry is all set to record the third highest growth rate in Asia-Pacific this year.
Let’s take a look at the top trends that will dominate the e-commerce space in 2019.
Increase in Wallet Usage
Online transactions on e-commerce platforms were earlier considered unsafe, and COD was the most preferred mode of payment. Today, with the advent of much more advanced and secure payment option like e-wallets, online payments have surpassed COD. The attractive cashback offers, discounts, and ease of payment offered by digital wallets is encouraging online shoppers to move towards them increasingly.
More Focus on Unique Content & Video
More and more brands will start focusing on creating unique content in both visual and textual format to differentiate themselves in this highly competitive market. Quality content especially videos help brands to showcase their products and convey their key messages in a much better way. The future e-commerce content will be customized for every consumer, taking personalization to a whole new level.
Rise in Advanced Mobile Applications
The increase in the number of smartphone users has been one of the primary reasons behind the boom that the e-commerce space has witnessed in the past few years. This has already started encouraging online players to develop mobile applications for their consumers. The future mobile apps will be much more advanced and will further enhance the overall shopping experience of the consumers.
Increased Usage of Artificial Intelligence & Augmented Reality
The usage of Artificial Intelligence in the form of chatbots will continue to rise. The future chatbots will act as sales agents, addressing all the queries of the customers. With the help of analytics, they will also be able to finds out what exactly the customer is looking for in the order. AI will also enable e-commerce players to give suggestions to the customers basis their preferences and personal taste.
Augmented reality will not remain limited to gaming and will be utilized to its fullest by e-commerce players to help customers to visualize their purchase.