How technology and rise of social e-commerce is promoting businesses to expand their reach in India

 How technology and rise of social e-commerce is promoting businesses to expand their reach in India

By Manthan Dhameliya

The retail industry in India has only recently started the digital transition. The pandemic has provided a significant boost to online shopping, leading India to witness a huge increase in the introduction and upgrading of digital and technology in various sectors, especially e-commerce and the online sector. shopping. India’s e-commerce space is now in the ninth position in cross-border growth worldwide. This will increase from four percent of the total food and grocery, apparel and consumer electronics retail trade by 2020 to eight percent by 2025. This growth will position the industry as one of the best hubs for entrepreneurs. , innovations, and businesses to make a profit.

The wave of Social E-commerce

Currently, people prefer to shop online while they stay at home due to the large number of internet users and their social media presence.

Today, online retail platforms offer fast shipping, a seamless supply chain process, and AI-driven chatbots that offer 24-hour customer assistance greatly accelerate the rate at which businesses can digital. This is not a novel concept. However, the integration of social interaction and e-commerce provides a way for all companies, especially for local businesses to connect with their customers, sell, and understand their changing needs. Building this unified business strategy has reduced their cost of customer acquisition and use social platforms such as Facebook, Instagram, and Pinterest. Companies that have seen a positive change in their marketing channels are doing well, helping businesses build their online stores without investment. Customer interaction and retention is made possible by the unique influx of compelling video content, images, reels, AR/VR experiences and customer feedback shared with existing customers. Implementing content-driven, experience-driven and network-driven strategies has helped businesses expand their reach and brand awareness.

Technology Helps Boost Business Growth

Unlike traditional stores, new technological advances have made it much easier for businesses to integrate their online and offline customer interactions even in urban markets. Thanks to automation of processes has helped the business to create a streamlined process. The integration of AI (Artificial Intelligence) in the Indian business landscape and big data analytics also enables them to analyze customer behavior, trends, habits, and needs. This has a significant influence on creating a tailored approach for customer acquisition and building the right product catalog. The increase in the use of mobile phones is a benefit, with the 5G network offering customers an accessible model of making online payments through digital wallets in online marketplaces. In addition, an efficient and modern supply chain will enable businesses from Tier 1 metropolitan towns and Tier 2 and Tier 3 towns to drive the growth of the current Indian market and contribute to the growing economy and business of the country.

2022 predicts significant business growth operating with the help of AI (Artificial Intelligence). It plays an important role in helping customers with appropriate feedback and recommendations, leading to more conversions, expanding the customer base, and brand recall.

Advances in technology and social e-commerce are rapidly storming the world in all sectors. There is much scope for adopting these changes to encourage business expansion, especially in the D2C model. We are not far from the day when high-end technology such as AI, VR, ML, and quality social e-commerce activities become ‘new normal.

The author is the owner of Kreeva. The views expressed are personal.

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