India is undergoing a rapid digital transformation, with over 650 million Indians now active on social media platforms like Facebook, Instagram, and YouTube, and messaging services like WhatsApp.
Despite this massive online presence, only 30% of users around 200 million-currently shop online. A similar trend is observed among small merchants, where just 15% of the 30 million formalised small businesses registered on the Udyam portal are selling online.
With many future online shoppers and sellers already within the digital ecosystem, India presents a significant untapped opportunity for businesses looking to expand their reach.
The Challenge of App Adoption
Most apps and services currently target 200 million digitally savvy users. However, beyond top categories like social media, messaging, entertainment, Unified Payments Interface (UPI), and horizontal marketplaces, app adoption is limited. Even in highfrequency categories such as grocery, banking, and mobility, monthly active users rarely exceed 35 million. App fatigue is also setting in, with 65% of savvy digital users expressing frustration with app downloads and 40% abandoning purchases when pushed to install new apps. The next 450 million non-savvy digital users remain hesitant to adopt apps due to a preference for assisted shopping, limited phone storage, and difficulties navigating app interfaces. As a result, the app-led model may plateau beyond the top 50 million to 100 million customers, prompting businesses to seek new ways to acquire and engage customers.
The Rise of Conversational journeys
One promising avenue is the implementation of chat-based assisted journeys, or conversational journeys, on platforms with high user engagement like social media and messaging services. Consumers are already informally interacting with businesses-both small and large-through these platforms.
Diese Geschichte stammt aus der August 2024-Ausgabe von Images Retail.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der August 2024-Ausgabe von Images Retail.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Retail Sector Records Strongest Hi Leasing in 5 years: CBRE
Leasing in Bengaluru, Chennai, and Delhi-NCR accounted for 59% share during Jan-June 2024.
Lulu Mall Bengaluru Welcomes 5 New Brands
Lulu Mall, Bengaluru, operated by the multinational developer Lulu Group, has expanded its portfolio by welcoming five new retail brands, the company wrote on social media.
Gujarat gets its First IMAX at Palladium Ahmedabad
Mumbai-based PVR Cinemas opened a new theatre at Palladium Ahmedabad, a social media post by a company official.
Budget 2024-2025: What's in it for Retail?
An overview of all the retail ecosystem-related measures in the Budget 2024-2025 revealed by Finance Minister Nirmala Sitharaman in her 7th budget speech.
Identity As a Service (IDAAS) Simplified
An explainer on Identity and Access Management-As-A-Service (IDaaS) in the context of retail.
6 Ways in Which D2C Brands are Redefining Physical Stores
From quirky fixtures to restageable elements, D2C brands do it differently when they open brick-and-mortar stores
What Innovation Means for Different Leaders
A look at how representatives of different retail categories define innovation and how they approach and implement it in their businesses.
Elevating Experience Through Omnichannel Retail Strategies
Here's how retailers are blending online and offline to offer seamless and personalised customer experience.
How to Improve Customer Engagement with Generative AI
Ways in which retail businesses can embrace generative AI to create hyper-personalised, seamless conversations to secure a lasting competitive edge in the marketplace.
'Customers Do Not See Shoppers Stop.com as Just Another e-commerce Site'
Sreekanth Chetlur, Chief e-commerce Officer, Shoppers Stop speaks about the three-decadeold physical-first department store chain's e-commerce journey, goals and strategies