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How E-Com Platforms/ Apps Help Create A Big Impact On Small Businesses Revenue
The government acknowledged that the e-commerce platforms had helped the small retailers not only to grapple with the challenging time but also kept the economic engine running by reaching out to the consumers in the last mile supply chain.
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The pandemic wreaked havoc on the different economic sectors and the small business outlets have found a breather in the e-commerce applications which have expanded the reach. The modern technologies have catalysed the reach of the micro, small and medium enterprises (MSME) and reduced the impediments which the small businesses face when they foray into the market. The Goldman Sachs report says India’s e-commerce platforms will double their growth to 9% by 2024. The report estimated grocery to be the catalyst for the growth of the platforms. ; at a time when the small retailers are finding it tough to sail through the tide, these platforms are aiding in driving on the bumpy road.
The Covid-19 has changed the market landscape by getting the untapped potential e-shoppers go digital. With this the small businesses which still have limited presence on digital platforms there lies a great opportunity to cater to the last mile services so that the wheels of digitisation keep swaying and the large market could be tapped.
A recent report by Cisco stated that India’s internet users are expected to cross 900 million users by 2023. It goes on to say that 400 million internet users will be from Tier II and other small cities, and by next year these cities will tap over 56 per cent of India’s market.
Since these platforms transcend boundaries, a huge fund set aside to set up a shop or renting an expensive one could be pumped into expanding the business. Technology is going to be a key aspect in bringing major shifts. Artificial Intelligence can enhance the consumer experience and at the same time would ease the way business is carried out. Right from using the filters to ease the choices from an array of products to getting the issues resolved on chatbots and VPNs, emerging technologies have driven the growth. It could be a major game changer in the future.
During the lockdown there was a spike in digital payments as there was a surge in home shopping and the e-commerce firms expect a further rise in the business.
The government allowed the movement of essential goods through ecommerce retailers as it ensured social distancing and restricted the movement of people. The government acknowledged that the e-commerce platforms had helped the small retailers not only to grapple with the challenging time but also kept the economic engine running by reaching out to the consumers in the last mile supply chain.
The ecommerce platforms envisage creating an ecosystem which can help the medium and small scale industries (MSME) access the pan-country market and step up efforts to become one source hub for sourcing products.
With the union government pressing in for Atamanirbhar bharat (self-reliant India) the e-commerce platforms have geared up to take the MSME products, reach the masses and accelerate the wheels of economy. Moreover, the growth in e-commerce will drive the supply chain, logistics and other allied industries
Going online and reaching out to the customer has become even more easy - barriers have been removed - don’t need to spend on making website to start with, businesses can make micro websites and can start selling via whatsapp.
simple tech such as whatsapp has also proved to be a game changer, We are seeing alot of businesses selling via whatsapp now.
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