ONDC for Brands: Unlocking Growth And Opportunity In The Digital Economy
India's digital economy has experienced remarkable growth driven by increased internet penetration, smartphone adoption, digital literacy, innovation, and government initiatives. It is in this context that the Open Network for Digital Commerce (ONDC) initiative by the Union Government emerges as a game-changer, ushering in a new era of open collaboration and seamless integration.
The Open Network for Digital Commerce (ONDC) seeks to democratise and decentralise the digital economy, promoting competition, innovation, and efficiency in the e-commerce landscape. By standardising logistics operations and fostering open digital ecosystems, ONDC aims to level the playing field for small retailers, reducing barriers to online entry and discovery, and empowering brands to connect directly with consumers. This inclusive approach benefits sellers, especially small and medium enterprises and local businesses, while fostering a more competitive and efficient market.
The ONDC will unlock a treasure trove of opportunities for brands in the digital space. According to the ONDC Advantage X toolkit - GTM Guide to digitise & democratise for commerce led growth, an MMA and GroupM initiative, the most significant benefits of onboarding ONDC for brands are as follows:
ONDC's inclusive approach and hassle-free delivery for local merchants opens up opportunities for brands to serve a larger customer base. This not only benefits sellers but also enhances the overall consumer experience and fosters a more competitive market.
ONDC offers an open e-commerce ecosystem that reduces brands' dependence on closed platforms. With lower commission rates compared to closed platforms, it attracts small retailers, promoting competition and innovation in the market.
ONDC empowers brands to establish their own independent sales channels within the decentralised e-commerce ecosystem. Brands can directly connect with consumers through their own webstores or pages, fostering personalised relationships and gaining access to first-party data and valuable customer insights.
ONDC's open network enables brands to create new business models, leveraging the capabilities of various service providers, data providers, logistics, and operational services seamlessly and cost-effectively. This flexibility opens up possibilities for innovative approaches to online growth and efficiency.
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The Open Network for Digital Commerce will help create a more dynamic and innovative e-commerce market in India, which will ultimately benefit businesses, consumers, and the overall economy.
Watch the exclusive ONDC report unveil and panel discussion from IMPACT ‘23 Delhi edition to gain a deeper understanding of onboarding ONDC for brands.?
Download the ONDC Advantage X Toolkit for a step-by-step guide to implement ONDC for your business here: https://www.mmaglobal.com/documents/ondc-advantage-x-helping-digitise-democratise-commerce-led-growth
MMA Global India key contributors:
GroupM key contributors:
Parthasarathy Mandayam