{"id":3291,"date":"2022-07-05T07:47:38","date_gmt":"2022-07-05T07:47:38","guid":{"rendered":"https:\/\/www.valueappz.com\/blog\/?p=3291"},"modified":"2023-07-21T12:26:27","modified_gmt":"2023-07-21T06:56:27","slug":"market-trends-of-online-store-e-commerce-business","status":"publish","type":"post","link":"https:\/\/www.valueappz.com\/blog\/market-trends-of-online-store-e-commerce-business","title":{"rendered":"Market Trends of Online Store &#038; E-commerce Business in India"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"aligncenter wp-image-3312 size-full\" src=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Market-Trends-of-Online-Store-E-commerce-Business-in-India.png\" alt=\"Market Trends of Online Store &amp; E-commerce Business in India\" width=\"2240\" height=\"1260\" srcset=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Market-Trends-of-Online-Store-E-commerce-Business-in-India.png 2240w, https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Market-Trends-of-Online-Store-E-commerce-Business-in-India-300x169.png 300w, https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Market-Trends-of-Online-Store-E-commerce-Business-in-India-1024x576.png 1024w, https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Market-Trends-of-Online-Store-E-commerce-Business-in-India-768x432.png 768w, https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Market-Trends-of-Online-Store-E-commerce-Business-in-India-1536x864.png 1536w, https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Market-Trends-of-Online-Store-E-commerce-Business-in-India-2048x1152.png 2048w\" sizes=\"(max-width: 2240px) 100vw, 2240px\" \/><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">It\u2019s halfway to 2023, the best time to think about the forces that will rewrite the business world in the coming years.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Being a player in the e-commerce industry, you won\u2019t be untouched by the disruption and the dire need to adapt to changing dynamics after two years of unprecedented transformations ushered in by the epidemic. Besides, merchants are <\/span><b>setting up an online store<\/b><span style=\"font-weight: 400;\"> or improving their e-commerce business to meet customers where they are.\u00a0<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">While it may sound like everything is evolving in the E-commerce industry, we have funnelled it down to the biggest trends that will affect businesses in India in the coming months and years.<\/span><\/p>\n<p><em><span style=\"color: #000000;\"><b>\u201c<\/b><b>E-commerce has transformed the way business is done in India<\/b><b>\u201d<\/b><\/span><\/em><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">And, to gain maximum profit and loyal customers, adapting to e-commerce trends has become a necessity. Although pandemic has surely encouraged people to adapt to e-commerce, it has now become a part of our daily lives.\u00a0 More companies have realized the potential of the e-commerce industry.\u00a0<\/span><\/p>\n<blockquote><p><em><span style=\"color: #000000;\"><b>\u201c<\/b><b>According to the <\/b><a style=\"color: #000000;\" href=\"https:\/\/www.ibef.org\/industry\/ecommerce-presentation#:~:text=Indian%20e%2Dcommerce%20is%20projected,segment%20being%20the%20largest%20beneficiary\"><b>Indian Brand Equity Foundation<\/b><\/a><b>, the Indian ecommerce industry is geared to eclipse the US online market by 2034<\/b><b>\u201d<\/b><b>.<\/b><\/span><\/em><\/p><\/blockquote>\n<p><span style=\"font-weight: 400; color: #000000;\">Looking at the exceptional growth of e-commerce and new shopping patterns that have emerged in the last few years, here are e-commerce trends that you cannot afford to miss out on!<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_24_1 ez-toc-wrap-left counter-hierarchy counter-decimal ez-toc-light-blue\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/a><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.valueappz.com\/blog\/market-trends-of-online-store-e-commerce-business\/#Ecommerce_Trends_You_Shouldnt_Miss_Out_in_2022-23\" title=\"Ecommerce Trends You Shouldn\u2019t Miss Out in 2022-23\">Ecommerce Trends You Shouldn\u2019t Miss Out in 2022-23<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.valueappz.com\/blog\/market-trends-of-online-store-e-commerce-business\/#Highlights_of_E-commerce_Market_in_India_By_So_Far%E2%80%A6\" title=\"Highlights of E-commerce Market in India By So Far\u2026\u00a0\">Highlights of E-commerce Market in India By So Far\u2026\u00a0<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.valueappz.com\/blog\/market-trends-of-online-store-e-commerce-business\/#Remember_The_5_MUST_When_You_Set_Up_an_Online_Store\" title=\"Remember \u201cThe 5 MUST\u201d When You Set Up\u00a0an Online Store\u00a0\">Remember \u201cThe 5 MUST\u201d When You Set Up\u00a0an Online Store\u00a0<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.valueappz.com\/blog\/market-trends-of-online-store-e-commerce-business\/#Finally%E2%80%A6\" title=\"Finally\u2026\u00a0\u00a0\">Finally\u2026\u00a0\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Ecommerce_Trends_You_Shouldnt_Miss_Out_in_2022-23\"><\/span><span style=\"color: #000000;\"><b>Ecommerce Trends You Shouldn\u2019t Miss Out in 2022-23<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400; color: #000000;\">Observing the consistent growth of e-commerce and new shopping patterns that emerged in the past few years, here\u2019s a comprehensive list of e-commerce trends that you should look out for in the current year.<\/span><\/p>\n<p><span style=\"color: #000000;\"><b>\u201cBig Data\u201d for Next-Level Customization&#8221;<\/b><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"color: #000000;\">Did you know, that personalization has fastly turned the cornerstone of best-in-class customer data.\u00a0 And,<\/span> \u201c<\/span><a href=\"https:\/\/www.salesforce.com\/products\/commerce-cloud\/resources\/ecommerce-trends\/\"><span style=\"font-weight: 400;\">Online businesses that can create personalized relationships with consumers get better results<\/span><\/a><span style=\"font-weight: 400; color: #000000;\">.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">After all, customers crave customized experiences, and here\u2019s the proof:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.salesforce.com\/resources\/articles\/customer-expectations\/?sfdc-redirect=369\"><span style=\"font-weight: 400;\">66% of shoppers<\/span><\/a><span style=\"font-weight: 400; color: #000000;\"> expect that the companies they shop from know what they need and prefer.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/retailtouchpoints.com\/topics\/customer-experience\/nrf19-36-of-shoppers-want-better-personalization-but-hesitate-to-share-personal-info\"><span style=\"font-weight: 400;\">36% of customers<\/span><\/a><span style=\"font-weight: 400; color: #000000;\"> believe that retailers need to rework on offering tailored shopping experiences.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400; color: #000000;\">But, you might be thinking about how to personalize the customer experience?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">One of the quickest and simplest things to do is leverage product recommendations. And, by using big data combined with advanced marketing tools, you can easily understand what an individual cares about.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">This means you can offer a personalized experience to customers whether you <\/span><b>set up an online store<\/b> <span style=\"font-weight: 400;\">or users are opening your emails.\u00a0<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">Pura Vida Bracelets is an example to help you understand better. They attribute more than<\/span><a href=\"https:\/\/www.shopify.com\/enterprise\/ecommerce-personalization-examples\"><span style=\"font-weight: 400;\"> 1.6 million additional clicks<\/span><\/a><span style=\"font-weight: 400; color: #000000;\"> in creating two recommendation categories on their product pages.<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">They showed recently viewed products and products that customers might like based on user activity.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\"><b>A Healthy Reminder:<\/b><span style=\"font-weight: 400;\"> The more you understand your potential buyer, the better you can customize the experience.\u00a0<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">And, it won\u2019t be just more manageable, but more rewarding.<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">So, in a nutshell, personalize your customer experience so that your users feel that you are directly communicating with them.<\/span><\/p>\n<blockquote><p><a href=\"https:\/\/www.valueappz.com\/blog\/which-businesses-are-in-demand-for-online-store\/\"><span style=\"color: #800000;\"><em><strong>Related Read: Which Businesses are in Demand for Online Store?<\/strong><\/em><\/span><\/a><\/p><\/blockquote>\n<h3><span style=\"color: #000000;\"><b>\u201cVersatile Payment Options\u201d &#8211; More Ways To Pay<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">Isn&#8217;t it daunting to move a shopper through a complete sales funnel, only to lose them later in the buying journey?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">It&#8217;s incredibly frustrating.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">One of the biggest reasons customers abandoned their carts was that<\/span><a href=\"https:\/\/baymard.com\/lists\/cart-abandonment-rate\"><span style=\"font-weight: 400;\"> there weren&#8217;t enough payment options<\/span><\/a><span style=\"font-weight: 400;\">.<span style=\"color: #000000;\"> As a player in eCommerce, you must cater to your customers&#8217; needs.\u00a0<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">Adding more versatile payment methods can help with this.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">PayPal and Stripe are the two most popular payment gateways, and most online shoppers trust them. But, you can also consider adding payment gateways like digital wallets, BNPL (Buy Now Pay Later) methods, Amazon Pay, Google Pay, and many others to the list.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">Remember: You can also add a few<\/span><a href=\"https:\/\/www.influencive.com\/the-top-mobile-crypto-payment-apps-for-2020\/\"><span style=\"font-weight: 400;\"> cryptocurrency payment gateways<\/span><\/a><span style=\"font-weight: 400; color: #000000;\"> for the customers who dip their toes in Crypto.\u00a0<\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>\u201cVoice Search\u201d is the New Cool\u00a0\u00a0<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">Trends in voice search seem to change how we all use the internet.\u00a0<\/span><\/p>\n<p><em><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">&#8220;<\/span><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.livemint.com\/technology\/tech-news\/voice-search-queries-in-india-are-growing-at-270-per-year-report-11619166188074.html\">India is already a video-first internet market<\/a>, and with smartphone adoption and demographics, it&#8217;s soon going to be the world&#8217;s first\/biggest voice-first internet<\/span><span style=\"font-weight: 400;\">.&#8221;<\/span><\/span><\/em><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">Not only do more people own smart speakers, but they also rely on voice assistants to carry on their daily to-do tasks. Besides, the improvements in search recognition technology have thrust voice searches to the forefront of search marketing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span style=\"color: #000000;\">Simply put, the voice search trend in India plays a pivotal role in fuelling aided commerce growth, as<\/span> <\/span><a href=\"https:\/\/www.businessinsider.in\/advertising\/ad-agencies\/article\/voice-search-queries-in-india-are-growing-at-270-per-year-mma-and-isobar-report\/articleshow\/82212039.cms\"><span style=\"font-weight: 400;\">82% of smartphone users actively use voice search technology<\/span><\/a><span style=\"font-weight: 400;\">. <span style=\"color: #000000;\">This focuses on the more significant opportunity for eCommerce businesses regarding keywords and content.<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">All in all, voice search is an unskippable element in creating an online store to address the challenges faced by the vast untapped market.\u00a0<\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>\u201cArtificial Intelligence\u201d Helps in Powering Strategies\u00a0<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">Artificial Intelligence isn\u2019t a new trend, but its uses are emerging in new verticals in 2023.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">As already known, customization is a crucial element for e-commerce businesses. But, with AI you can improve your approach of interacting with customers. Hyper-targeted and advanced personalization at scale are only possible with advanced technology like Artificial Intelligence.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Here, I\u2019ve pocketed a handful of ways to put AI to use when<\/span> <a href=\"https:\/\/www.valueappz.com\/blog\/how-to-create-online-store\/\">creating an online store<\/a><span style=\"font-weight: 400;\">.<\/span><b><\/b><\/span><\/p>\n<h4><span style=\"color: #000000;\"><b>1. Shopper&#8217;s Mood Tracking\u00a0<\/b><\/span><\/h4>\n<p><span style=\"font-weight: 400; color: #000000;\">AI-powered e-commerce technologies can easily track and identify specific customer moods and trends, eventually helping online shops manage product stock. For example,<\/span><a href=\"https:\/\/www.theverygroup.com\/\"><span style=\"font-weight: 400;\"> the Very Group<\/span><\/a><span style=\"font-weight: 400; color: #000000;\"> successfully integrated AI mood tracking technology in their chatbots.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">Also, it detects the customer&#8217;s tone in messages and sends replies according to the information.\u00a0\u00a0<\/span><\/p>\n<h4><span style=\"color: #000000;\"><b>2. Product Recommendations\u00a0<\/b><\/span><\/h4>\n<p><span style=\"font-weight: 400; color: #000000;\">Artificial Intelligence lets you process insightful data and trends about every prospect and customer. With this, you will be able to offer timely and relevant suggestions based on factors like customer interest, profiles, and purchase history.\u00a0<\/span><\/p>\n<h4><span style=\"color: #000000;\"><b>3. AI-Powered Chatbots<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/span><\/h4>\n<p><span style=\"font-weight: 400; color: #000000;\"><a href=\"https:\/\/risingmax.com\/blog\/ai-based-chatbot-cost-calculator\">AI Chatbots<\/a> integrated with AI learning capabilities can exceptionally reduce the work of your live support team. In addition, the bots will continuously learn and adapt to different situations. Also, you can offer timely and relevant support at any moment.\u00a0<\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>\u201cSustainability\u201d Is Must<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">Fact sharing time, <\/span><a href=\"https:\/\/www.forbes.com\/sites\/sap\/2019\/12\/17\/balancing-the-tension-between-consumer-and-sustainability-desires\/?sh=4fe9446c2e5c\"><span style=\"font-weight: 400;\">65% of customers<\/span><\/a><span style=\"font-weight: 400; color: #000000;\"> buy from brands that are genuinely committed to sustainable business practices.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">This outlines that brands and customers alike are becoming more aware of the environment. As an outcome, shoppers are more conscious about the brands they support.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">Also, a <\/span><a href=\"https:\/\/www.nosto.com\/blog\/10-stats-consumers-sustainability-retail\/\"><span style=\"font-weight: 400;\">recent survey<\/span><\/a><span style=\"font-weight: 400; color: #000000;\"> found that 50% of respondents look ahead to more sustainability in the fashion industry, along with 75% supporting less <\/span><a href=\"https:\/\/www.bigcommerce.com\/blog\/how-to-use-packaging-to-drive-new-business-and-repeat-customers\/\"><span style=\"font-weight: 400;\">packaging<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">eCommerce businesses are already going paperless, using biodegradable, and recycling. H&amp;M and FedEx are a few names that are committed to supporting sustainability.\u00a0<\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>\u201cSubscriptions\u201d Retains Customer\u00a0<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">Subscription keeps growing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">This e-commerce trend witnessed more and more businesses changing their offers from regular products to monthly subscriptions to keep customers loyal.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">This is a simple yet effective idea to motivate customers&#8217; loyalty. And, when done right, your eCommerce website or online store will enjoy sustainable and recurring revenue. The most significant advantage of the subscription business model is the uplift in customer retention. Customers end up being subscribers for years.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Highlights_of_E-commerce_Market_in_India_By_So_Far%E2%80%A6\"><\/span><span style=\"color: #000000;\"><b>Highlights of E-commerce Market in India By So Far\u2026\u00a0<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"color: #000000;\">How Much has India Spent on Online Commerce\u00a0<b><\/b><\/span><\/p>\n<p><b><span style=\"color: #000000;\">Chosen Payment\u00a0 Modes\u00a0<\/span><\/b><\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-3296 size-full\" src=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Razorpay.png\" alt=\"Razorpay market stats\" width=\"512\" height=\"257\" srcset=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Razorpay.png 512w, https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Razorpay-300x151.png 300w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/p>\n<p style=\"text-align: center;\"><em><a href=\"https:\/\/razorpay.com\/blog\/e-commerce-market-share-report-india-2021\/\"><span style=\"font-weight: 400;\">Source<\/span><\/a><\/em><\/p>\n<h3><span style=\"color: #000000;\"><b>How Much Did India Spend on Food and Grocery Products?<\/b><\/span><\/h3>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-3298 size-full\" src=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/online-food-grocery-stats.png\" alt=\"Online food grocery shopping stats\" width=\"512\" height=\"165\" srcset=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/online-food-grocery-stats.png 512w, https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/online-food-grocery-stats-300x97.png 300w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">The continuous rise since May can be because numerous traditional offline stores have figured out a way to let people buy groceries online with utmost convenience. This trend not just confine to online grocery delivery, but also is true in different domains like lifestyle, beauty and wellness and many more.\u00a0<\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>How Much Did India Spend on Lifestyle and Fashion World\u00a0<\/b><\/span><\/h3>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-3300 size-full\" src=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Lifestyle-and-fashion.png\" alt=\"Online Lifestyle and fashion stats\" width=\"512\" height=\"332\" srcset=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Lifestyle-and-fashion.png 512w, https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Lifestyle-and-fashion-300x195.png 300w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/p>\n<h3><span style=\"color: #000000;\"><b>How Much Did India Spend on Home Furnishing Products\u00a0<\/b><\/span><\/h3>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-3301 size-full\" src=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Home-furnishing-products-stats.png\" alt=\"Home furnishing products stats\" width=\"512\" height=\"380\" srcset=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Home-furnishing-products-stats.png 512w, https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Home-furnishing-products-stats-300x223.png 300w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/p>\n<h3><span style=\"color: #000000;\"><b>How Much Did India Spend on Beauty and Personal Care\u00a0<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\"> <img loading=\"lazy\" class=\"aligncenter wp-image-3302 size-full\" src=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Beauty-products-stats.png\" alt=\"Online beauty products shopping stats\" width=\"512\" height=\"334\" srcset=\"https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Beauty-products-stats.png 512w, https:\/\/www.valueappz.com\/blog\/wp-content\/uploads\/2022\/07\/Beauty-products-stats-300x196.png 300w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">Considering these numbers, the biggest takeaway for any business from 2021 was that customers no longer fear the digital world, whether ordering online or paying online.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">And, now it\u2019s fair to say, \u201c2023 is a beautiful time to be a dependable e-commerce business\u201d. But you might be thinking about how to make your online business successful, right?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">Don\u2019t worry! We got you covered.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Remember_The_5_MUST_When_You_Set_Up_an_Online_Store\"><\/span><span style=\"color: #000000;\"><b>Remember \u201cThe 5 MUST\u201d When You Set Up<\/b><b>\u00a0an Online Store\u00a0<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400; color: #000000;\">Inching ahead, five factors are crucial to curate a place in online retail:\u00a0<\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>Relevant Recommendations and Trusted Peer Reviews\u00a0<\/b><b><\/b><\/span><\/h3>\n<p><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">When you <\/span><b>build your own e-commerce website<\/b><span style=\"font-weight: 400;\">, customers expect a personalized shopping experience from relevant product recommendations. Also, when evaluating products, they rely on peer reviews and influencer opinions, and about 70% of them relate to the trust and credibility of the reviews and ratings.<\/span><b><\/b><\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>A constant Customer Engagement\u00a0<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">In e-commerce, loyalty could be strengthened through ongoing consumer engagement programs as the market moves from offline to online. Loyalty programs, online community buildings, and enhanced online product discovery are some proven approaches that market players are experimenting with.\u00a0<\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>An Effective Supply Chain and Delivery\u00a0<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">eCommerce players need to continuously innovate and optimize their supply chain efficiency and delivery costs to improve their earnings. Especially for non-metro cities, delivery costs are often more than 20 percent of the prevailing basket value of INR 300 to INR 500 for every online order.\u00a0<\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>Supplement Offline With Online\u00a0<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">Now is the high time to supplement offline with online. And, having a multichannel offering can increase penetration in product categories with lower eCommerce penetration.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">So here, eCommerce stores come in the bigger picture than brick-and-mortar players to provide an authentic, integrated omnichannel experience &#8211; from finding and trying products to returning or repairs and conducive payment choices.\u00a0<\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>Availability of Variety\u00a0<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400; color: #000000;\">A curated variety is essential in the eCommerce industry because of differences in regional and local choices. And, with eCommerce reaching tier-2 cities, businesses need to provide easy ways for customers to discover, find, and buy from a trusted online retailer that caters quality and price that consumer wants.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Finally%E2%80%A6\"><\/span><span style=\"color: #000000;\"><b>Finally\u2026\u00a0\u00a0<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400; color: #000000;\">Opportunities are knocking at the door!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">With new opportunities to grow and offer unparalleled user experience to customers, the online industry continues to be in full swing.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">And, if you are all set to <\/span><a href=\"https:\/\/www.valueappz.com\/\"><b>create your online store<\/b><\/a><span style=\"font-weight: 400;\">, keeping track of emerging e-commerce trends is a must. In addition, you need to continuously find ways to leverage new tools and use emerging technologies as quickly as possible &#8211; or before anyone else.<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">The eCommerce trends discussed are already on the way to rewriting the way business is done. And the one who tried them ahead of others is about to gain an advantage that will take their business to an entirely new level.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #000000;\">Remember, &#8220;<em>The companies that mold their businesses around customers&#8217; unique needs have the probability of leading the $40 billion value e-commerce opportunity in India<\/em>&#8220;.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s halfway to 2023, the best time to think about the forces that will rewrite the business world in the coming years.\u00a0 Being a player in the e-commerce industry, you won\u2019t be untouched by the disruption and the dire need to adapt to changing dynamics after two years of unprecedented transformations ushered in by the [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":3312,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}"},"categories":[718],"tags":[720,714,710,719],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Trends of Online Store and E-commerce Business<\/title>\n<meta name=\"description\" content=\"Check out the latest market trends of online store and e-commerce businesses! 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