Last year, the pandemic brought a wave of digital change to the country. Due to a lack of choice or concerns about safety or mere convenience, consumers began to use digital ways to meet their needs. This change in behavior accelerated the growth of e-commerce in India. In recent years, the segment has already grown rapidly with the proliferation of the Internet and smartphones, but the pandemic has tripled its growth. From groceries to clothing, books and personal care products, every product was now purchased online. Indian Ecommerce Industry is expected to have a $ 200 billion market over the next 3-5 years.
The interesting thing here is that there have been major changes in consumer behavior at a very fundamental level. Most of them started adopting new ways to shop online out of compulsion first, but soon it became a habit because sitting at home and delivering everything to your door was easy. This caused a chain reaction all around – products, services, brands and categories.
For marketers like us, consumers are the center of the universe, and that’s why it was necessary for us to dive a little deeper into their behavior to understand how the growth of e-commerce changed their lives. To this end, we conducted an online survey and asked consumers a number of questions to understand their purchasing behavior and patterns.
Our report on the e-commerce sector in India is a detailed account of the changing consumer behavior of e – commerce, the main takeovers of brands and companies in this state, and some interesting insights. You may also be interested in reading a recently published book, Digital jungle decoding.
Top Brands and Companies in E-Commerce –
1) The purchase path is undefined and complex –
The number of consumer contact points in the digital environment has increased, as have opportunities for brand presence, innovation and interactivity. According to a recent Amazon report, consumers use an average of 4 platforms before making a decision. The report also says that more than half of consumers visit Amazon for research, which means that the platform is not just a shopping / operating area on a consumer trip. According to a study by Google, the journey between the trigger and the purchase goes through a messy middle part, which consists of a search and evaluation process. The loop can only be broken by the brand present at the right point of contact, which provides the necessary information to facilitate the assessment quickly. An important marketing tool after a pandemic is to advertise on Amazon and Flipkart if the product and service are relevant. Advertising does not have to be limited to conversion goals, but it should be to drive consumers through the funnel. Brands must also ensure that advertising messages are tailored to the needs of buyers in the evaluation phase. According to a study by Google, buying decisions are influenced by behavioral trends. We need to give up our communication by targeting our prejudices and our class. For example, the bias of scarcity is important in the Lifestyle and Fashion / luxury / premium / premium category. As inventory decreases, buying products is more desirable. Brands should also form customized email marketing campaigns to aggressively communicate with potential customers. Re-targeting and cart rejection message so you can connect with evaluating customers before they make a decision. The need of the hour is for brands to have a solid social media strategy and a full-funnel marketing plan that entices consumers to buy. More social media platforms need to be explored and defined according to the target group and goals. This helps consumers quickly evaluate and come from the “messy middle ground”.
2) Grocery Stores: Clear Winner!
When it came to understanding the key categories that were useful for e-commerce, the grocery store became a clear winner according to the results of the study. The availability of products in grocery applications and websites is a major driver for consumer loyalty to that platform. The persistent lack of availability may lead consumers to reconsider loyalty. In addition, consumers have a strong interest in buying local shops, familiar shops and well-known brands. The user experience has a lot to do with customer preferences. There are cases where consumers reported distinguishing between Zomato and Swiggy on the basis of their interfaces. A simple, self-controlling and neat interface can change the game.
3) Trademarks intended to –
The global pandemic has raised the idea of corporate purpose or meaningful business – how brands give back to the community and the environment. During 2020, there were a few key attitude changes. According to a Google survey, 86% of respondents say they are more environmentally conscious because of the pandemic. Consumers have expanded
on the horizon and thus they are open to more choices, rather to better choices. As the saying goes, it takes one crash to get to learn in life. According to our survey, 70% of respondents said they started using sustainable brands after a pandemic. Giving your brand a higher purpose is now essential because it is no longer just a differentiator – consumers may pay more attention to this.
than in customization.
4) Switching to digital payments –
According to a recent KPMG report, in October 2020, digital transactions rose to 23.7 million, or about 4,000 crore. The survey found that 70% of respondents wanted to use digital payment methods in online shopping. Indians feel safer when they make physical cash than they pay digitally according to general consumer behavior. The results suggest that there has been a phenomenal change in consumer preferences. It is very obvious that today’s consumers are experimenting and experimenting with newer platforms for financial transactions. This brand must be highly proactive in forming strategic partnerships with fintech platforms.
Finally, we want to say that current ecommerce brands can no longer be dissatisfied. Consumers today are very aware and intelligent and have very high expectations of brands. Today’s e-commerce brand has many more points of contact, far more potential consumers, and a complex consumer journey. Let go of it and adapt better!