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Examine how would COVID-19 help accelerate e-com adoption?

  Jun 15, 2020

Examine how would COVID-19 help accelerate e-com adoption?

  1. The COVID-19 pandemic could accelerate the adoption of e-commerce in the country, with online sales accounting for over 10% of Indian retail sales in the next 12-18 month period, from 5% currently.
  2. Demonetisation accelerated the adoption of digital payment in India and it is expected that COVID-19 to do the same thing for online commerce. 
  3. Presently, 95% of India‚Äôs retail sales do happen at stores, and online contribute only 5%. 
  4. However, online sales are expected to breach the double-digit mark within the next 12-18 months.
  5. Touchless payments to virtual try-on will be the new norm. 
  6. The perfect combination of digital and physical will define the new shopping experience. For example, trial rooms at fashion retail outlets will need to have virtual try-on facility with 3D avatars, as customers may not be comfortable trying out any garments in the trial room. 
  7. The entire product value chain will need to be articulated as part of the product info. Customers will not shy away from paying extra money for the product information.