Consumer Desires and Market Offerings: Indian E-commerce and Quick Commerce
Nitin Bansal
General Manager & Branch Head at Lokmat Media | IIM Alumni | Marketing Communication Expert
In India big players like #Amazon, #Flipkart, and #Myntra are locked in a fierce fight to rule the online shopping world. They're up against strong local brands such as #Meesho, #RelianceRetail, and #JioMart. At the same time fast-delivery services like #Swiggy #Instamart, #Blinkit, and #Zepto are changing what people expect.
These companies promise to bring groceries and everyday items to your door in just minutes. As all these platforms try to win over shoppers, we need to ask: ???? ???????? ???????????????????? ???????? ???????????? #?????????????????? ???????? ????????Big Online Stores and How the Market Works Online shopping in India has seen huge growth, thanks to widespread internet access and more people becoming tech-savvy.
Amazon and Flipkart lead the pack grabbing big chunks of the market with their wide range of products and strong delivery networks. Recent reports show Amazon has about 31% of India's e-commerce market, with Walmart-owned Flipkart right behind at around 30%. New players like Reliance Retail and JioMart are also making their mark by using their knowledge of the local market to their advantage holding a 10% share between them.
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#Quickcommerce is the latest new frontier in Indian retail as any delivery of under 30 minutes is sought by instant gratification needs. Despite being emerging, this sector is growing at a fast pace. The leaders in this space are Swiggy Instamart and Blinkit, that are focusing on more urban and denser higher-value centres with both a high demand of speed and the ability to pay for it. Currently at a growing stage, by 2025, the Q-com market size is expected to reach $5 billion.
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The former has an edge on variety and price, whereas quick commerce has a competitive edge on speed and convenience. Yet it manifests a conspicuous gap in fulfilling needs that are personalized and local. There is a growing demand from the consumer for hyper-local products and services that are not necessarily placed on these large platforms. The demand for sustainable and eco-friendly products is also rising, underrepresented even by current e-commerce and quick-commerce players.
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Indian e-commerce and quick commerce shall have a healthy future, and so would require adaptive strategies. E-commerce would require the ingestion of more local brands and sustainable options in order to fit the bill of evolving preferences of the consumers. Quick commerce shall expand beyond urban clusters into larger markets.
In this dynamic market, #advertising would be an important component. Digital marketing along with AI-based personalization of adverts and winning the hearts of customers across many social media platforms would become an important ingredient whereas traditional media like Print & Television will keep hold their significance of trust, credibility, impact and attention. #Campaigns should hang their successes on the USPs of speed and variety and should also consider the rising interest of consumers in sustainability as well as localism.