In a rapidly evolving business landscape, micro, small, and medium enterprises (MSMEs) in India are increasingly recognizing the importance of digital transformation. A recent survey  of Vodafone Idea’s enterprise arm reveals that 43% of MSMEs plan to increase their digitalisation budget next year. This trend underscores a growing awareness of the benefits of digital tools and technologies in driving growth, enhancing efficiency, and remaining competitive. In this blog, we explore the reasons behind this shift and what it means for the future of MSMEs in India.

The Driving Forces Behind Increased Budgets

1. Enhanced Efficiency and Productivity: Digital tools streamline operations, automate routine tasks, and improve overall efficiency. For MSMEs, this translates to reduced operational costs, faster turnaround times, and increased productivity. By investing in digital technologies, businesses can optimize their processes and focus more on strategic activities.
   
2. Improved Customer Experience: Today’s customers expect seamless, personalized experiences across all touchpoints. Digital technologies enables MSMEs to better understand customer preferences through data analytics and offer tailored solutions. Enhanced customer experience leads to higher satisfaction and loyalty, crucial for business growth.
   
3. Greater Market Reach: Digital platforms provide MSMEs with access to a broader audience. E-commerce, social media, and digital marketing tools help businesses reach potential customers beyond their geographical boundaries. This expanded market reach is essential for scaling operations and driving revenue growth.
   
4. Resilience and Adaptability: The COVID-19 pandemic highlighted the need for businesses to be agile and resilient. Digital tools allow MSMEs to quickly adapt to changing market conditions, maintain business continuity, and explore new revenue streams. Increased adoption of digital technologies prepares businesses for future uncertainties and disruptions.
   
5. Data-Driven Decision Making: Digital technologies provide businesses with valuable insights through data collection and analysis. MSMEs can leverage this data to make informed decisions, identify new opportunities, and address challenges proactively. Data-driven decision-making enhances strategic planning and business outcomes.
   

Key Areas of Investment for MSMEs

1. Cloud Computing: Cloud solutions offer flexibility, scalability, and cost-efficiency. MSMEs are increasingly adopting cloud services for data storage, collaboration, and application deployment, enabling them to operate more efficiently and reduce IT infrastructure costs.
   
2. Digital Marketing: Investment in digital marketing tools and strategies is on the rise. MSMEs are leveraging social media, search engine optimization (SEO), and pay-per-click (PPC) advertising to increase brand visibility and attract new customers.
   
3. E-commerce Platforms: E-commerce is a vital channel for MSMEs to sell products and services online. Investing in robust e-commerce platforms allows businesses to tap into the growing online consumer base and expand their market reach.
   
4. Customer Relationship Management (CRM) Systems: CRM systems help businesses manage customer interactions, track sales, and improve customer service. Therefore, by investing in CRM software, MSMEs can build stronger customer relationships and drive sales growth.
   
5. Enterprise Resource Planning (ERP) Systems: ERP systems integrate various business processes into a single unified system, providing real-time visibility and control over operations. For MSMEs, ERP solutions streamline processes such as inventory management, procurement, finance, and human resources, leading to improved efficiency and reduced costs.
   
6. Manufacturing Execution Systems (MES): MES solutions are crucial for MSMEs in the manufacturing sector. These systems monitor, control, and optimize manufacturing operations, ensuring high quality and efficiency. By investing in MES, MSMEs can improve production planning, track real-time progress, and enhance overall operational performance.
   
7. Cybersecurity: As digital technologies increases, so does the risk of cyber threats. MSMEs are prioritizing investments in cybersecurity solutions to protect their data, systems, and customer information from cyberattacks.
   

Challenges and Considerations

While the increased focus on digitalisation is promising, MSMEs must navigate several challenges to maximize their digital investments:

1. Skill Gaps: Implementing digital technologies requires a skilled workforce. Hence, MSMEs need to invest in training and upskilling their employees to effectively leverage digital tools.
   
2. Budget Constraints: Despite the intent to increase budgets, many MSMEs operate with limited financial resources. So, prioritizing investments and seeking cost-effective solutions is crucial for maximizing returns on digital investments.
   
3. Integration with Existing Systems: Seamlessly integrating new digital tools with existing systems can be complex. MSMEs must ensure that new technologies complement their current infrastructure and processes.
   
4. Change Management: Digital transformation involves significant changes in business processes and culture. But, MSMEs need to manage this change effectively to ensure smooth adoption and minimize resistance from employees.
   

Conclusion

The planned increase in budgets among MSMEs in India signals a positive shift towards embracing digital transformation. By investing in digital tools and technologies, MSMEs can enhance efficiency, improve customer experiences, expand their market reach, and build resilience. However, it is essential for businesses to address challenges such as skill gaps, budget constraints, and integration issues to fully realize the benefits of digitalisation.

Why Fusion

At Fusion Informatics, we specialize in providing tailored digital solutions to help MSMEs navigate their digital transformation journey. Contact us today to learn how we can support your business in leveraging digital technologies for sustained growth and success.

The post Embracing the Digital Future: 43% of MSMEs in India Plan to Increase Digitalisation Budget Next Year appeared first on AI, ML and IoT application development company | Fusion Informatics.

With the rise of online retail activities, the retail industry is experiencing a wave of business upheaval. However, the COVID pandemic hit the retail industry as well as online retail’s rapid expansion. It is for this reason that merchants throughout the world are striving to implement AI in the retail industry.

Let’s take a look at how retailers are leveraging cutting-edge technologies such as Augmentation, Artificial Intelligence, and Machine Learning to stay ahead of their competition today, and what innovations are being pioneered as possible game-changers in retail over the next decade.

1. Recommendations for Products Based on Clients’ Purchasing Habits

Users will be able to create accounts in retail locations by following the same procedures as they do online. Stores have taken some steps to make this easier, such as allowing customers to pick up their purchases, get them delivered, and keep track of their points. This makes it easier for store employees to cater to the unique needs of each customer who enters the store. The types of things you buy, the combinations you buy, the brands you favor, the amount you spend, and how often you buy, all play an important role in determining your purchasing habits. To date, the emphasis has been on making product recommendations. Additionally, this approach can foretell customer demands and predict their arrival to the physical stores and online stores with a specific set of items to purchase, which is a ground-breaking approach.

2. Expansion of the Consumer Base with High-Value Services

Customers create their trust in a brand based on product quality, pricing, delivery, and response services. People are more likely to come into the store if the brand is well-known. Your brand’s ability to retain and attract new customers is a hot topic in the industry. Prompt customer service increases consumer traffic in the business since it demonstrates a company’s commitment to meeting the needs of its clients.

Customers can get answers to their questions through AI-enabled in-store assistants, which create a strong communication channel. There are no better examples of AI innovation in the retail industry than digital assistants powered by artificial intelligence (AI).

3. Inventory Management and Demand Forecasting

Product profiling can be done in the same way as customer profiling. Which items people choose to buy in what combination and what quantity, as well as the position in the actual store where this product is stored, are all factors in determining how much of this product is accessible at any one time. The goal is to ensure that this product is always sold in conjunction with other products and that the ideal quantity of the product is always available in the store. AI may be used to create efficient models, and the results can then be displayed on a dashboard enabling the store operator to take the proper measures towards the inventory.

4. Product Bundling and Pricing Strategy

Much of the work done in retail centers is on product pricing. For non-urgent items, customers wait for the price to drop before making a purchase. They also wait for things to arrive in combination at an appropriate price. For a short period, this can lead to greater sales and higher income; on the other hand, sales at prices below the procurement price might lead to overall unprofitable sales. In order to get the best price for a certain group of clients, AI can identify the price that will compel them to make an immediate purchase. Another group of clients can benefit from AI’s ability to recommend a product combination at a reasonable price. AI will be able to ensure the strategy’s profitability as it is being developed.

5. Chatbots for Customer Service Assistance

In addition to providing better customer support, AI chatbots also help with the search, send alerts about new collections, and make suggestions for related items. For example, a chatbot can advise an appropriate snapback to go with a black hoodie a consumer has already purchased. AI chatbots are already being used by 80% of global brands or will be in the near future. Chatbots have been deployed by Tommy Hilfiger and Burberry to help customers navigate their collections.

6. Logistics and Supply Chain Management

Retailers throughout the world lose around $1.1 trillion a year as a result of subpar execution in this area. It’s possible to avoid having leftovers or running out of supplies. When it comes to retail supply chain refilling, artificial intelligence (AI) may be utilized by taking into account factors like past sales, location, weather, trends, promotions, and more.

7. Search Visually

Customers can upload photographs and search for similar products based on color, shape, and pattern using visual search engines driven by artificial intelligence. Cortexica’s image recognition system claims a 95% accuracy rate. 90% of customers gave the Discover Similar feature a thumbs up. American Eagle’s infrared technology makes use of Visual Search, which not only directs customers to similar or identical clothing but also suggests complementary items.

8. Virtual Changing Rooms

We can’t forget about this amazing FUNCTION. With virtual fitting rooms, buyers can select the right outfit with all of the elements properly matched in a matter of minutes instead of spending hours searching. AI has developed a virtual fitting kiosk that can scan you in 20 seconds and measure 200,000 points of your body in this time. The installation of these scanners by retailers such as Levi’s, Gap, Brooks Brothers, Old Navy, and others resulted in significant gains in sales.

9. Voice Search

You can also use voice search to find what you’re looking for. Several major retailers utilize Google or Amazon AI technology to make voice search simple and fast for customers. Using Alexa, users can simply ask for the item they’re looking for and its delivery status without having to type anything at all. 27% of the world’s population use the voice service, while 52% prefer the browser search in mobile apps and websites for convenience.

10. Assistance in the Store

For both customers and store employees, retailers are investing in cutting-edge technology. Smart shelf tags, made possible by Kroger Edge technology, have replaced paper price tags in their shops. Video commercials, nutritional data, and promotions can all be portrayed on the displays thanks to this new technology. A robot called Lowebot from Lowe’s helps clients locate what they’re looking for by speaking a variety of different languages. Due to its real-time monitoring capabilities, it also aids in inventory management.

Conclusion

One of the top Artificial Intelligence vendors claims that the implementation of AI in inventory management resulted in a 32% cost reduction across all operations. AI’s ability to improve supply chain management and return on investment is expected to save 80% of the money. According to respondents, chatbots and self-checkout systems will be most advantageous for retailers in terms of customer-facing functions. Over the next five years, the worldwide retail AI market is predicted to reach over $5 million dollars.

The post AI Use Cases in the Retail Industry appeared first on AI, ML and IoT application development company | Fusion Informatics.

Globally, 78% of users prefer mobile apps for visiting an e-commerce store. If you belong to the b2b or b2c e-commerce business category, you can easily reach your target customers anytime, anywhere via your mobile app platform. Just like you do, even your customers carry mobile devices 24×7. It is embedded in their lifestyle; business, personal or professional aspect, mobile apps are their regular companion. The success of your e-commerce business depends upon the unique features of your mobile app development. The result is enhanced customer experience, increased brand recognition, massive cost savings while increasing sales prospects making you competitive in the market.

An Example of B2C E-Commerce Operator

A mobile app can elevate the customer experience. Compare its merits with a web-based platform!

Let’s discuss the top reasons why your e-commerce businesses need a mobile app for successful outcomes.

1. Mobile Commerce

Mobile commerce is the trend today. E-commerce businesses are thriving thanks to the popularity of varied mobile applications that act as a catalyst to increase sales. When you check your sales portfolio, you can see and compare devices customers use for shopping; worth noticing the fact that today,67 % of the global e-commerce sales are created by mobile apps. Mobile apps have led to a massive shift in consumers’ buying behavior, especially with the onset of the pandemic. It is an unabated practice now owing to the sheer convenience, comfort, and choices available before customers the world over!

2. Consumers Prefer  Mobile Apps

Improved user experience(UX) is another reason your e-commerce business should have a mobile app.78% of consumers globally prefer to purchase products from an e-commerce mobile app. They like simple, quick, fun shopping experiences. That is possible via mobile app and not any mobile browser or website browsing. Mobile apps have easy-to-navigate, interactive interfaces which are compatible with varied screen sizes. If you are in the e-commerce space, a retailer, or the owner of an e-commerce business, you must go for mobile app development specific to your business.­­­­You can expect greater revenue generation seeing your customers’ preferences for mobile app-based e-commerce sites.

3. Have Competitive Edge

Customers want product/service information to reach them directly rather than go to them. For example, if you are launching a new product or any new schemes, discount offers are there, your app-users will get direct notifications via push buttons. You can refer to the b2c example given at the beginning of this blog. That’s how a mobile app-based feature can enhance your customer experience. Instead of flicking through varied websites and random browsers, your app can do the needful. This can make you stand apart from your competitors, business rivals who don’t have a unique mobile app-based business.

4. High Conversion Rates                               

People spend more time on mobile phones daily. They do not want to start a PC, desktop, laptop and visit e-commerce sites for purchasing activities. They want an easy and convenient platform that is possible using mobile phones. Seamless connection and interactive interface involving e-commerce mobile app development increase the probability of conversions. App-users are more likely to place an order using their specific e-commerce mobile app as it entails a hassle-free process. When consumers are online using an e-commerce mobile app, they end up viewing 286% more products, eventually adding them to the cart at an incredible 85% greater rate as compared to that on mobile web-browsers.

5. Personalized CX

You need to create a personalized shopping space if you want to attract customers to your e-commerce business. Custom offers, personalized shopping experience enhances the customer buying experience. Your mobile app records your customers’ detail, their required information is automatically stored and they don’t have to log in to their account every time they want to buy a product. Your e-commerce mobile app can help your customers for a fast and easy buying experience; their name, address, product recommendations as per preferences set, payment details, etc. are already available. This leads to an enhanced shopping experience eventually enhancing your business outcomes. Your app may have custom signs up, can cater to your target audience based on demographic details. This smoothens the process of monitoring shopping behaviors, their ongoing consuming behavior over social commerce, platforms, etc. This leads to improving the bottomline of your business ultimately.

Basic Features of an E-Commerce Mobile App

Bottomline

The abandonment rate of the shopping cart on an e-commerce mobile app is a mere 20% as compared to that of 68% on browsing websites on desktop. Can you now fathom the underlying benefits of adopting a mobile app for your e-commerce business? People love to interact with their mobile apps and do shopping via favorite e-commerce stores. All you need to do now is to collaborate with a leading mobile app development company and get started right away!

Are you a Start-Up or an SMB in the e-commerce space and want to create a  unique mobile app for your business? Contact Us.

The post Top 5 Reasons Why Your E-Commerce Business Needs a Mobile App appeared first on AI, ML and IoT application development company | Fusion Informatics.

E-commerce is rapidly becoming the favorite, default online shopping option amongst consumers living in India. 86% of Indian shoppers adopted online shopping over e-commerce platforms using online shopping apps during the pandemic. As per a recent report by Sensor Tower & MAAS, in July 2021, India’s app stores saw more than 80M online shopping app installs while reaching 113M downloads in October this year, just in India.No doubt, Indians are known for binge shopping and addiction for mobile apps have only triggered this habit of online shopping over varied app-based e-commerce retail stores. We have explored further about apps driving their online shopping behavior, and narrowing down to the best online shopping apps in India as of today! Based on their trending position, we have sorted them as below:

1. Nykaa – Beauty Shopping App

Nykaa App for beauty shopping, make-up, and cosmetics online shopping happens to be one of the best online shopping apps in India. This online shopping app for beauty products is India’s largest online shopping beauty store. Browse and buy cosmetics, beauty products, health products & more from top brands.

APP Highlights:

• Online shopping categories – Makeup, skin, hair, fragrance, natural, personal care
• Brands– Over 2400 brands available, such as Maybelline, AMC, Lakme, Loreal, biotique, charlotte, tilbury, NYKAA
• Shipping – Free if purchasing over Rs.499
• Secure Payment Methods – UPI,GooglePay,Debit/Credit card,Net banking,mobile wallet,COD,Gift card
• Return Policy – 15 days
• Online Ratings– 4.6
• Store Rank– 28

2. Shopsy Shopping App – Flipkart

One of the trendiest apps and the best ones, Shopsy Shopping App originates from Flipkart. Online shopping under the categories of fashion, mobiles, beauty, accessories, footwear, home at the best price range. Earning money on placing each order with Shopsy is possible now. Shopsy Shopping app offers the latest and trendiest fashion items, clothing from top brands, and all categories too from big brands assuring quality purchasing. Transparent return/refund policy.

APP Highlights:

• Online shopping categories – Fashion, home, lifestyle, footwear, accessories, beauty
• Product Listings –  Over 15 Crores
• Exclusive offer – Competitive wholesale prices
• Secure Payment Methods – COD (Cash on Delivery Service), debit/credit card, net banking,  UPI enabled PhonePe, etc.
• Trusted Suppliers –  1 Lakh+ trusted Flipkart supplier base
• Faster Delivery – Within 7 working days
• Online Ratings– 4.2
• Store Rank– 5

3. AJIO Online Shopping App

AJIO Online shopping app is published by Reliance Retail Ltd. and is one of the best online shopping apps in India. AJIO app is called an online aisle of style due to its outstanding offers and range of products available. The app takes care of all needs for men/women, and their astounding range of accessories, mobile phones, smartwatches, the latest fashion, and electronics & gadgets from top brands.

APP Highlights:

• Online shopping categories – style collections menswear/womenswear/kidswear, accessories,mobile gadgets
• Brands– Over 2500  brands, international and in-house label
• Exclusive Offer-  Payday weekend special sale
• Secure Payment Methods – Easy checkouts, online payment
• Return Policy – 30 days
• Online Ratings– 4.3
• Store Rank– 3

4. Meesho Online Shopping App

Meesho: Online Shopping App is one of the best online shopping apps in India, a favorite one-stop online Shop for consumers and shoppers. Shoppers can now shop for themselves as well as earn money online, both the benefits via the same Meesho App!  Lowest wholesale prices available that allow for online shopping at any budget. Reselling of items to friends, family is possible while starting own business with zero investment.

APP Highlights:

• Online shopping categories  – Women’s / men’s fashion,  kid’s fashion, accessories, home & kitchen appliances, beauty & health essentials, etc.
• Product Listings – Over 50 Lakhs products from 650+ categories
• Reselling and earning money option – 3-step via browse, share, earn
• Exclusive Offer – 30% discount on first order
• Shipping – Free delivery with no minimum order value
• Return Policy – 7 days
• Secure Payment Methods – COD (Cash on Delivery Service), online payment, debit/credit card, net banking, etc.
• Online Ratings– 4.4
• Store Rank– 1

5. Myntra Online Shopping App

Myntra is the top trending mobile app today and is one of the best online shopping apps in India. A very convenient, very consumer-friendly app that you can download and install anytime free. After downloading you can choose from wide categories of clothing for men, women, kids. You have plenty of other categories apart from the clothing one. From clothes & shoes to hair care & home products, Myntra is your one-stop lifestyle shop. Choose from the most popular clothing fashion brands like Vero Moda, Nike, H&M, MANGO, HRX, Biba, Roadster, & many more.

APP Highlights:

• Online shopping categories –  Over 7 lakhs products that include clothing for men, women, kids, shoes, jewelry, home products, accessories, cosmetics, gadgets, sportswear
• Brands– Over 3500 brands available, Puma, Adidas, Nike, Fastrack, Reebok, Fossil, Maybelline, Lakme, Kama Ayurveda, Gini & Jony, Allen Solly    Forever 21, MANGO, Biba, etc.
• Exclusive Offer – Express order delivery
• Shipping – Free shipping on first order
• Secure Payment Methods – UPI or COD (cash on delivery), EMI options
• Return Policy – 30 days
• Online Ratings– 4.3
• Store Rank– 8

Endless APP Game

Every day you come up with something new in the shopping zone. As a consumer, you love to explore products, accessories that meet your growing needs daily. As an online retailer, you need to be competent enough to match this growing trend of online shopping behavior amongst consumers in India. Updating yourself with time and finding a place in Google play store or Appstore is the perfect solution to remain competitive and business-oriented in the mobile world.

Don’t fall behind your competitors! Connect with us and find out which online shopping app would be ideal for your e-commerce retail business fetching maximum returns.

The post Best Online Shopping Apps in India appeared first on AI, ML and IoT application development company | Fusion Informatics.

Data is the most important asset of the retail industry. Data is useless if it does not help companies to make smarter decisions for business growth. As consumer behavior is evolving with time, it depends on how data are helping retail companies to get relevant business insights, improving customer experience leading to enhanced business outcomes. Predictive Analytics is the AI /ML digital tool that works on data to derive valuable insights and predictions, forecasting sales thereby helping retailers to plan ‘What Next’ moves. How Predictive Analytics can boost the retail industry? How is it helping retailers to generate sales and have a competitive edge in the market? We will discuss all these points in this blog today.

1. Product Demand Forecast

As a retailer, you want your business to expand and products to connect with your target audience. If you know what does your target audience demand and their preferences, your products will never be out of stock or understock, right? To keep your business running smoothly, predictive analytics helps to forecast the demand for exact products your target audience wants. The technology helps to ensure that you have enough items stocked to sell and can meet demands adequately and can predict your profitable months as well as sales deficit. It means predictive analytics helps retailers to assess demand and sales performances. Product performance can be gauged by indicators such as sales margins, the number of units sold besides other metrics. It helps to improve consumer engagement and satisfaction.

2. Pricing Forecast

Pricing forecasts is a major functionality of predictive analytics that uses real-time capabilities of machine learning, and data science technology, to bring out adequate answers to questions that as a retailer you’d like to know in advance. Few sample questions that predictive analytics can forecast regarding pricing elements are:

• For maximizing sales what’s the right price point?
• What should be the frequency for running price-based promotional activities?
• What should be the optimal attainable price of a customer?
• How the competitive pricing will impact sales?

Apart from the above factors, weather forecasting, real-time sales data also help to alter as well as induce the most perfect pricing part (best pricing ).

 3. Managing Inventory

As we have mentioned earlier, too, how predictive analytics helps in estimating product demand and what your target audience wants, it also helps towards managing your inventory properly and up to the mark. A poorly maintained inventory leads to a loss in sales. As a retailer, you will never like to hold on to those products that are not yielding sales. Moreover, you will always want to replenish stocks that your consumers want to buy. Predictive analytics helps to predict demand for products that help you to manage your inventory.

4.  Marketing Campaigns

As a retail business, you need to prioritize marketing campaigns from time to time.  Your business needs a powerful marketing plan that helps to boost your business potentials driving the best ROI. An inefficient marketing campaign management leads to a poor ROI because you cannot estimate the right budget and varied inaccurate calculations done on your part.AI-ML digital capabilities of predictive analytics help you to gain actionable marketing insights, and suggest you adopt individual campaigning for a specific target audience and be more budget efficient leading to maximum conversion of leads.

5.  In-Store Optimization

Predictive analytics helps in online monitoring of shopping activities, as well as in-store data analysis. Varied digital tools & technologies, IoT sensors, and surveillance cameras that are installed in retail stores, on product shelves, help to monitor the shopping activities of varied consumers. The technology helps you in the following ways:

• You can identify your shoppers’ favorite routes throughout the retail floor
• You can identify and distinguish popular, most searched products on varied shelves
• You can count the total number  of visitors  in your shopping zone at different times per day
• You can adequately calculate the average visit time of customers
• You can genuinely monitor queues

Predictive analytics helps you to gather these valuable insights. Using these insights, you can configure store layouts, plan the schedules of your staff, can distinguish the ideal opening hours of your retail stores, reduce customers’ waiting time in queues, and increase the high level of security.

6.  Shopping Cart

 If you own an e-commerce retail store, you can leverage the massive capabilities of AI-ML-powered predictive analytics to optimize your online store, product categories as per existing online shopping carts of consumers. For instance, your customers while browsing your online shopping stores may come across products they like so much. They save them, add them to their shopping carts. When they don’t buy them,  predictive analytics tracks them and lets you know why they didn’t buy and how you should respond to this kind of situation in the future.

7. Social Media Marketing

Social media marketing, online advertising are important segments of retail marketing. As a retailer, you’d think social media marketing involves greater expenditure than offline advertising. But using predictive analytics, you can manage these upfront costs and invest in social channels where you gain the maximum outreach and visibility. Predictive analytics can help you maintain a strong social media presence. You don’t have to stress regarding unreasonable expenses because the digital tool helps you to invest smartly on those social channels where you get the maximum ROI and prospect of acquiring new customers.

Conclusion

Predictive Analytics can help to predict the future of your retail business. Whether you are an online retailer sharing an online marketplace with bigwigs or small start-ups in the offline retail space, predictive analytics helps you to extract valuable actionable insights for your business outcomes in the right direction. The aforementioned AI-ML-powered digital capabilities of predictive analytics are just a few significant use cases in the retail industry. There are many more benefits yet to unfold. Stay tuned to this space and we will have further elaboration on this topic with detailed analysis.

Are you a retailer in the e-commerce industry or a physical retail store and changing consumer behavior bothering you? Want to know how predictive analytics can help you solve this challenge and grow your retail business?? Reach us.

The post How Predictive Analytics can Generate More Sales for Retailers? appeared first on AI, ML and IoT application development company | Fusion Informatics.

If you are a retail entrepreneur, you must be knowing very well the significance of trends in your sector, and how it shapes the business eco-space. New trends come with every new year that hugely impact retail businesses across the globe. In 2020 as well as 2021, the trends saw a massive shift in consumer behavior, their fondness for online shopping, immense growth in e-commerce, social commerce, AR shopping experiences, influencer marketing, etc. The pandemic has only accelerated some trends like a surge in grocery platforms, retail media outlets overall enhancing online shoppers worldwide. Continuing the trend of writing about the trends, let’s discuss top innovative retail industry trends that will dominate in 2022 and beyond as well!

Important Stats

• By 2040, over 95% of total purchases are expected to be done on e-commerce platforms (NASDAQ)
• There exist over 2 B digital shoppers/buyers around the world (Statista)
• In 2023,  22% of the total retail sales globally are expected to be carried online mode  (Statista)
• Almost 51% of online shoppers do purchases using their smartphones (Finances Online)
• By 2025, half of B2B revenue is expected to be generated by e-commerce (Episerver)

Stats Main Source –  Influencer Marketing Hub

1. Online Stores in Offline Spaces

The trend has picked momentum over the past few years. Digital brands sell their products online while delivering tangibility to the whole customer experience. This means, online buyers can choose products online and can go to pick them in the brand’s physical retail store or in-store. Shoppers greatly benefit from this real-time interaction with the product they want to purchase. Several D2C brands, digital natives such as Casper, Glossier started their online retail but later on expanded to physical availability, too. As per sources, the digitally native retail companies/brands might open 850 physical/in-stores in the coming five years.

2. Rising Social Commerce

Social media platforms have become a big rage amongst people of all ages across geographies. Different social channels are offering shoppers to shop online in a seamless manner. No need to click a third-party website for shopping, but as a user, you can directly purchase from social channels via their apps or sites. Shops are present on social media channels like Facebook, Instagram apps, or sites, and while you can browse your accounts you can see your favorite products displayed by varied shopping brands, e-commerce shops.  E-Sellers can create their labels decorated with attractive banners, colors, buttons,  images, that can be accessed from specific social channels. They have a big scope to reach a larger global audience, too. In 2020, just as the trend picked up like how TikTok and Shopify collaborated, how Facebook allowed shops to sell their products, similarly 2022 is going to see again. Social Commerce sales in the US are estimated to rise by 35% with the current year-end.

3. Enhanced Influencer Marketing

Earlier, Influencer marketing meant just eye-catching captions, creative selfies, and product shots that used to be heavily edited. This year onward (2021), we are seeing how brands are collaborating with influencers and influencer content with the raw and real aesthetic appeal are tending now and will last beyond 2022 as well. Audiences love the original appeal of the brands and not an artificial coating and edited stuff. They want the real, authentic voice that brands project for their products. Influencer content that works as edutainment(education+entertainment) for the ultimate user experience, is allowing brands to fetch greater user engagement and ROI. Video happens to be the next big thing when brick-and-mortar retail stores are still to restart massively like the earlier phase. Consumers, shoppers love to see the product digitally and feel the experience. Videos on IGTV, Reels, Live Streaming, etc. are the ways influencer marketing is becoming the retail trend for 2022 also.

4. Value-Added Supply Chain

Supply- Chain forms a significant part of the retail chain. Digital technology and tools like AI-ML, IoT, Robotics are already helping the wing with added value. For example, automated warehouses with varied robots handling goods, doing the routine work there, autonomous robots, and drones for last-mile delivery are yet to become popular but may pick up during 2022 and beyond in full swing. Besides,  retailers can make smart decisions using process automation that will lead to greater value- service. Adopting IoT(Internet-of-Things), RFID devices, help to track, trace product, and this allows retailers to access authentic real-time data. Digital tools like AI-ML Predictive Analytics help to understand KPIs thoroughly. Automating documentation at all the stages of the supply chain helps to lower costs and increase efficiency and productivity. This is going to be the major trend in the coming years.

5. Voice Commerce and Digital Chatbots

Shoppers, users, b2b or b2c customers, all are benefitting from digital chatbots and smart speakers. Amazon Echo, Google Home, and other voice-technology-enabled smart speakers have entered the homes of online shoppers. As of now, 20 percent of owners of smart speakers use voice technology/voice commerce for searching, researching products they buy, shopping activities and tracking deliveries, etc. This trend is expected to grow to 52 percent in the coming 4 years. It is estimated that the global market of smart speakers could reach beyond 35.5 billion USD by 2025. Furthermore, retailers are focusing on meeting customers where they are. This is leading to the increased use of AI-ML-enabled digital chatbots and virtual assistants. The trend is going to stay in 2022, too.

Technology Will be the Key Driver

Trends become the trends when technology intervenes. Ideally speaking, in the era of digital transformation across industries, the retail industry is way ahead in terms of technology adoption and adapting to the changing demands, and ever-changing consumer behavior. While e-commerce is increasing its foothold, the essence of brick-and-mortar retail stores will always charm the audience. It is about amalgamating the two, the omnichannel strategy as well, that will enhance the core of retailing and trends ensuing in the year 2022, and beyond!

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When was the last time you did online shopping for your favorite product? Did you make online searches in search engines or search bars on varied e-commerce websites? Did you opt for Voice Search in your search process? Your answer lies in your action – adopting voice search technology like Google Next(previouslyGoogle Home) or Amazon’s Alexa. Typically voice commerce technology incorporates an AI-compatible physical device that supports a voice virtual assistant to carry commands by users. Voice is the input command. For example, Amazon’s Echo, Plus, Echo Dot are a few smart speakers that act as a platform for Alexa to run. Due to the recent trends and challenges in the retail industry, voice commerce has been gaining momentum. In this blog, we will discuss the basics of Voice Commerce and its varied applications towards e-commerce in the retai­­­l industry.

What is Voice Commerce

Voice commerce means a smart virtual assistant powered by Artificial Intelligence (AI)that allows people, businesses to multitask, i.e. searching, categorizing, purchasing, trading, etc.  It is finely integrated with portable smart devices just like  Apple’s Siri, Google’s Next, Amazon’s Alexa, Microsoft’s Cortana. Using voice-commerce technology, customers can now purchase products merely by giving their voice commands to smart devices. Not just that, it also allows you to perform complicated functions such as solving your queries, carry out simple orders. Voice commerce technology is changing the way brands do communicate with their target audience. It is also changing the way consumers do shopping, the overall consumption habits of people. So, you see, how voice commerce is increasingly making the market more competitive at varied levels. A massive $40B voice-commerce sales are projected in the US by the year 2022.

Impact

Many e-commerce brands have started adopting voice-controlled virtual assistants (voice-commerce) in their digital strategies. Undoubtedly, voice commerce technology has created a significant impact on the e-commerce sector. You consider your example, how often do you use voice commands for search as well as placing your orders? How many times do you use Alexa or Google Assistant? If you are a business owner, enterprise, and ask Alexa/Siri, etc. to give comparative results of your competitors, competing e-commerce brands, you will be amazed at seeing the accurate results that flash before you.AS a consumer, voice-controlled virtual assistants or Conversational AI is not just limited to your shopping activity. It can do much more than searching for your queries or information, listening to your favorite music, or ordering food. Voice Commerce technology allows its virtual assistants to help you with recommendations, too. It can check your order history, search history, and based on that will come up with recommended products, or a good suggestion. So, this way voice commerce is helping the e­­­-commerce and the entire retail industry to a new level.

Benefits

The Voice Commerce technology is facilitating e-commerce stores or e-retailing businesses to leverage the evolving trend of voice-activated online shopping behavior of consumers. The following reasons can explain to you how voice-enabled search technology/ voice commerce can be beneficial for your e-commerce business:

1. Enhanced Customer Experience

Voice commerce is changing the way your customers interact with your e-commerce business. It facilitates a seamless experience for your customers and there’s no need to imply certain resources to complete the process successfully. As an e-commerce store owner or proprietor of an e-store, you can expect varied kinds of innovative solutions into the loop of your business. Indeed, the e-commerce business landscape is transforming and voice commerce technology is empowering it. Take, for example, H&M, a popular retail brand, has adopted a virtual stylist that recommends customers their most matching outfits. Helping customers in their shopping journey is enhancing their satisfaction level. If customers are satisfied, your business is automatically elevated to the next level. Thus, AI-enabled Voice Commerce technology is seamlessly integrating with customers’ shopping experience, and you should leverage this capability for your business gains!

2. Arousing Brand Connection

When your customers purchase products from your e-commerce store, they automatically get connected with your brand. When they start using your products, they develop a sense of belonging towards that product, considering it a major part of their life. This journey is greatly motivated by AI-enabled virtual assistants that give them the power to search and buy and connect ultimately with the brand they choose! The plus point is the fondness for voice search assistants by the younger generation. This generation is too keen on trying out newer technologies and leveraging the best of them. And this gives ample scope to your business growth. Since voice commerce technology follows the recommendation process, voice search brings out results that match with customers’ preferences and product descriptions. This is the positive business development for new e-commerce businesses. How? The search results based on preferences are not biased against brand presence but their relativity with the product search. New e-commerce businesses can easily get noticed now over the maps! Voice-Commerce or AI-based virtual assistants allow consumers to connect with the brands they love and seamlessly integrating with their shopping experiences.

3. Improved Search Engine Results

You can use keyword research in Google and other search engines to find out what people are buying and their current preferences for a product, brand, pricing, etc. This way, you can optimize keywords as per search volumes and related aspects. With the ever-changing demands of customers that are greatly influenced by shifting market trends, voice commerce-powered keyword research, search optimization does help online businesses to adapt accordingly. As per sources, if you give voice search commands over Google devices, the results that come out have certain correlations with Google’s featured snippets also. You can leverage this potential and optimize content that can feature you in the organic search results. If you give a significant effort to the SEO aspect, chances are more that you stand alongside top e-commerce brands in the search engines.

Helping Brands via Voice Shopping

There are two types of voice shopping that e-commerce businesses can leverage for Pre-Purchase and Order Placement activities. They are :

1. Voice Assisted Shopping- Voice commerce facilitates shopping beyond just placing an order. It helps customers in the pre-transaction phase of shopping with a comparison of pricing, quality, brand, etc. The technology helps to identify products to buy while comparing alternatives.is about more than simply placing orders. Shopping includes awareness and consideration phases in the path-to-purchase and these pre-transaction steps are already seeing increased voice engagement.
2. Voice Assisted Purchases – Digital tools & technologies, mobile apps, websites are helping customers with voice-assisted purchases and find their favorite brands, products. They are seamlessly led to the payment phase for order confirmation. For example, Alexa has this capability for ordering through Amazon.com while Google Assistant through Google Express.

On-Premise or Cloud for your E-Commerce Business

So, if you are an online retailer, e-commerce business, you can opt for voice commerce technology to enhance your business returns. You need to check your business requirement while adopting a specific deployment model. While Cloud-based solutions offer simple integrations with varied channels, On-Premise solutions allow your business to customize the workflow. Whatever model you choose, voice commerce technology gives your customers a natural interface. You cannot imagine shopping now without virtual shopping assistants. You can contact a mobile & web app development company to find the right voice-technology solution for your business.

If you are looking to build a modern e-commerce application along with integrated voice commerce capability – Contact us today!

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The year 2020 will be recorded in history as the most eventful year of the century. The infamous COVID-19  pandemic has upended industries across the globe, and the Indian retail industry is one of them. The entire retail trajectory shows a stark shift in consumer behavior and the way retail business is operating throughout the country. As per BCG & RAI joint report, the Indian retail sales decreased for the first time in 2020 after decades of continuous growth. Brick & Mortar retailing suffered the most while e-commerce saw a big leap. In 2019, India ranked second in the GRDI,  Global Retail Development Index (GRDI). How about Indian retail growth prospects in 2021 and years to come? Let’s discuss in length the pre & post-pandemic status of the retail industry in India.

Consumer Purchase Behavior

In the Pre Covid era, years before 2020, the Indian retail industry saw a steady, smooth pattern in the buying behavior of consumers, their consumption pattern, and socio-demographic fundamentals were accounted for this steady growth. There was a demand for in-store shopping, and physical retail shops, malls, and supermarkets were dominant. In the meantime, e-commerce, b2c channels were also a big hit in the later part of the erstwhile decade.

In the Post Covid era, the aftermath of 2020, and the second wave that is still hovering around, the consumption patterns have started a big shift towards online retail and e-shopping. Indian consumers have become too precautious and preferring buying over online stores to visiting physical retail stores. Although lockdowns have been lifted in maximum places, the night curfew and weekend restrictions still playing hide&seek games influencing the physical retailing and consumers buying behavior.

Digital First Operations

In the pre-covid phase, the retail industry in India saw a mixed approach towards the digital adoption of modern tools and technologies. Retailers were not competing with retailers but with the influx of digital technologies to revamp the retail business model. While big retailers had moments with ‘Experiential Retail’, where adopting digital technologies was the core, small retailers (who fell into the unorganized retailing sector), failed to adapt to this change. Experiential retailing involved ATL, BTL animations, blended physical and digital shopping to deliver convenient accessibility, good customer experience, and solid in-store features. Digital technologies like IoT helped b2b in-store marketing efforts for retail brands. IoT tech helped retail in-store and malls in the lighting system, handling of electric switches as well as garbage disposal units, and the Point of Sales Units (PoS).

In the post–covid phase, the digital-first operations elevating to the next level. As per  Anand Narang, VP- Marketing & Consumers experience, Bata India limited, the entire financial year 2020-21 has proved to be challenging for retail business across India, due to pandemic as well as countrywide lockdowns. However, Sales in Bata reached 15% of the total sales of the previous year thanks to digital channels. Also, they divided consumers into three categories- Digital Natives, Digital Adopters, Digital Novices. Thus, the post-covid retail in India is delivering services as per the very three categories of consumers. For this, they are adopting the Digital – First Approach. The social media front also helping businesses to combat the intangible effects of the pandemic.

Major Drivers

Pre-Covid Indian Retail saw a big surge in online retailing. The major drivers of online retail were:

• Increased penetration of the internet
• Smartphone users increased massively
• Online shoppers increased immensely
• Make In India initiative of Indian Government

The Indian government’s initiative of ‘Make in India’ propelled focus on the local manufacturing that led to creating more jobs, increasing the GDP per capita, which started making people reliable and improve their lifestyle.

Post-Covid Retail in India also seeing the above-mentioned drivers as major a boost to sustain the harsh impact of covid led lockdowns and retail shops shuttered down. However, the three major drivers for the post-covid retail are:

• E-Commerce/Digital Retail Channels
• Mobile App based Shopping
• Digital Wallets

While e-commerce or online retailing is thriving exponentially in India, even customers are enjoying the competitive prices and ever-increasing options for products at the minimum rates. Retailers in India are indeed rejoicing the impact as they need to spend less on real estate and can reach out to maximum customers even in tier-2 and tier-3 cities.

Predictions

• India’s e-commerce retail is expected to rise by 84%  to USD 111B by  2024 (source-IBEF)
• Mobile shopping to increase 21% annually in next 4 years
• Online retail penetration to increase by 10.7% by the year 2024 (it was 4.7% in 2019)

Conclusion

The retail industry in India is expanding after a short-term hiatus. As per a recent joint report prepared by BCG and RAI, the shift in consumer preferences has been categorized into four categories-  Mobile Phones, Staples, Food-Ordering, and Apparel. While some of these shifts are short-term, others will have long-term implications, for the supply-chain side. Mobile shopping, mobile apps, e-retail are going to thrive. The rapid urbanization, entry of foreign players, rising income as well as favorable demographics are going the be the major drivers for boosting the retail industry in India.

Are you prepared to cope up with evolving retail trends and challenges in these tough times? Reach us to know more.

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Are you an etailer, or an online seller in the e-commerce platform? Then this piece of news is relevant to you. The Indian government has recently introduced  Consumer Protection (E-Commerce) Rules,2020, that calls for certain mandatory curbs in online retail practices. Well, it all started with major complaints put forth by small businesses, brick-and-mortar traders that some e-commerce key players were flouting local laws. However, many private, public, and government agencies are expressing concerns, arguing that the very proposed consumer protection rules will affect “ the ease of doing business”.Not only that, it will greatly impact the overall investment sentiments, too! India’s e-commerce market is estimated to grow to a massive $200B by the year 2026 (source-Reuters), but, with the new set of e-commerce rules, what’s the probability of this figure? What’s your take on this? Let’s discuss the overall impact!

What Are the Rules

The Consumer Protection(E-Commerce) Rules,2020, applies to all e-tailers (electronic retailers) that are registered either in India or abroad, and offering goods & services to Indian Consumers. As per the rules:

• An e-commerce company will have to display the overall price, the total price of goods & services they’ll be selling, and there has to be a detailed break-up of other charges,if any.
• Mandatory mention of ‘Expiry Date’ of selling goods.
• Mandatory mention of ‘Country of Origin’ of goods & services.
• Mandatory display of details about return & refund, warranty, guarantee,  exchange policies, delivery, shipment, and anything related information.
• Sellers who are selling goods/services through a marketplace, the above details need to be given by the concerned e-commerce entity that’d be displayed on the former’s website.
• E-commerce entities cannot impose ‘cancellation charges’, cannot ‘manipulate prices’, and need to provide information about all the payment methods & their security, fees/charges to be paid by users, the contact information of the payment service provider.
• E-commerce entities have to display details of ‘sellers’ including business names, geographic address, ratings/feedback, customer care number, and whether they are registered or not.
• Provision of a ticket number for a complaint lodged by the consumer so that tracking is possible.
• Inventory e-commerce entities cannot falsely advertise, cannot refuse to withdraw services or take back goods.
• Banning of ‘flash sales’ but ‘conventional flash sales’ will continue.
• If selling imported goods/services, then need to go for a mandatory listing of local alternatives.
• Mandatory registration is required with DPIIT (Department for Promotion of Industry and Internal Trade).

Impact on E-Commerce Players

The new e-commerce rules will be impacting all the online retailers, e-commerce players including the bigwigs, too. Due to the raised costs and other curbs, e-commerce dominant players will be forced to review their business models (source- Reuters). Business costs will increase. One major impact will be the rule that asks for local alternatives while selling imported goods. This move is seen as a major boost to ‘Made in India’ goods but not that healthy for e-commerce players. As per industry sources, this concept is all about promoting local goods but is not conducive for e-commerce platforms. However, it is up to you, as an e-commerce player, how to leverage the good sides of the rules levied and create an opportunity for yourself! Explore, and, Execute!

Another clause that is going to impact is the requirement where e-commerce companies/firms need to ensure that the enterprise related to them must not be listed as sellers within their shopping websites. Also, an affiliate entity cannot sell goods to any online seller which is operating on its platform.

­­­­­­­­The new Indian E-commerce rules are seen as a government alternative to formulating a stringent foreign investment law. The result will be higher restrictions for business dealings with sellers on the part of e-commerce players. Moreover, a ban on flash sales is going to change the shopping experience for consumers.

Impact on Sellers

Positive side- The new India e-commerce rules are going to impact sellers as well. So, if you are a seller, restrictions levied on e-commerce players to display their sellers’ advertisements, to promote them on their platforms, are going to put you in the steering seat. Means, your advertisement, promotion, will be taken care of by you only, and there won’t be any interference from your platform provider.

Negative side- The e-tailers, e-commerce giants cannot advertise sellers who are offering discounts. Moreover, the tight guidelines for not allowing any ‘misleading’ ads about quality, guarantee, pricing will be affecting sellers’ potential to expand further. Online advertising business will be affected, too. And what about the provision of details about Country of origin(CoO)? Major e-commerce players have more than millions of products listed on their websites. So, will that prove to be conducive for sellers on their platforms? Again, create opportunities out of the constraints!

Impact on Consumers

Consumers are going to gain!

Take the clause of cancellation charges & explicit consent from consumers. What does that mean? Typically, e-tailers clearly highlight certain items as non-returnable during the pre-purchase stage. They offer refunds or free exchanges to consumers. But now on, they need to ask for explicit consumer consent. Someone’s compromise is going to prove consumers’ gains! Moreover, there will be transparency in the shopping experience as brand names will show original ones and not the platforms they are selling at. Moreover, if imported goods are for sale, like those from China or any other foreign country, then there have to be alternative suggestions ranging from Indian local goods, too. And, you know the sentiments of Indian consumers. You guessed it!

Bottomline

There’s no qualm that the new India e-commerce rules are a giant leap for promoting  ‘Made in India’  products in the Indian market and beyond. At the same time, the e-commerce giants are also bearing the heat of restrictions and curbs levied upon them. But the underlying intent of the very e-commerce rules is simple – bringing transparency in the entire ecosystem and that is absolutely fine, fair, and genuine! After all, disruptions are known to bring about new changes, and can we expect something big unfurling, in the e-commerce segment, in near future? Let’s wait and watch!

Are you an Indian retailer or e-tailer looking to empower your business while abiding by the new India e-commerce rules in place? Reach us to know more.

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Are you a Wholesaler or planning to start a wholesale business on an e-commerce platform?  You can either build your website dedicated to your wholesale business or, you can choose an e-commerce platform like Shopify, Amazon, Indiamart, and so on. These e-commerce platforms are the marketplaces where retail companies buy and sell products. Creating your unique identity in an existing online marketplace needs to follow certain guidelines. On the other hand, you can build and launch your unique wholesale e-commerce platform. To do that, you need to consult a dedicated web & mobile application development company for the step-to-step development process. In this blog, we will discuss both the options – Popular online marketplaces or e-commerce platforms, and, the guideline for a few basic mandatory features you should adopt for your wholesale b2b e-commerce yet-to-launch website.

Top Features of Platform

1. Synchronizing Data

Your website/e-commerce platform should have the feature that synchronizes data from varied, multiple channels. You know how people are super active on so many channels. This is the virtual world, and people just love to hop on places upon clicks, in seconds. Don’t you agree, too? People, businesses, b2b customers search across channels available on the web and do fundamental research for products/services before buying. So, as a wholesaler on an e-commerce platform, you get opportunities to sell your products on multiple channels. Indeed a valuable addition to your sales. However, you have to smartly organize data residing on all the platforms and ensure data security. The detail of your buyers, payment transactions, delivery status and so many details that concern your wholesale business is available online. Make sure your website is perfectly synchronizing all these data and does the needful. This is a very prominent feature that your website should have.

2. Mobile App

As per Statista report, there are more than 3 billion smartphone users across the globe. This has opened up an attractive avenue for retail businesses and you being a wholesaler, need to capitalize on this. Your website/wholesale e-commerce platform has to be mobile-friendly and compatible with all types of smart devices where b2b customers, or the buyers, are present most of their time,i.e., mobile, tablet, iOS platform, Androids, and so on.

3. Integration with Third Parties

Your wholesale website is not the only platform where your customers/clients come and interact. Your e-commerce platform should have pre-sales as well as post-sales touchpoints, too. For instance, content, advertisements, campaigns, research, are few pre-sales points whereas, upselling,cross-selling, etc. are post-sales points. Thus, your website needs to have this feature of integrating with other platforms, tools to manage all the touchpoints.

4. Customer Support Feature

As a responsible wholesaler, your website should provide your b2b customers with strong support and service 24*7. The customer support service feature makes sure your e-commerce platform is dedicated to the service you provide while caring for your customers is an equal priority. This facilitates an increase in conversion rates.

5. Content Marketing

Content is the king. And how your website presents content to your target audience attributes a lot to your business gains. It means, your wholesale e-commerce platform needs to have a content marketing tool appropriately designed and placed. This feature leads to your brand awareness, the recognition in the market as well as engaging your customers, prospects, into the sales funnels. Competitive videos, images, blogs,infographics,etc. are some content examples that can be duly leveraged for your business gains.

Popular E-Commerce Platforms

1. IndiaMart

Indiamart is a popular e-commerce platform for b2b and b2c businesses. It caters to the Indian market specifically and is the topmost online b2b marketplace in India connecting buyers with wholesalers. You can connect to this platform and start building your wholesale business. Follow the guidelines and get connected to your potential buyers. Plenty of categories and verified buyers is the plus point – 72 M+ products & services, 125M+ buyers,6.5M+ suppliers. This is the popularity of the very e-commerce platform.

2. Alibaba.com

Alibaba group is based in China.  Alibaba.com is a subsidiary of the giant group. This wholesale e-commerce platform hosts varied wholesale businesses and support a very large user base. The process to sign-up here is simple and whichever category you belong to, you will find your place. You can easily set up your wholesale business here and the plus point is its compatibility with multiple language options as well as multiple payment options. The platform charges $100 for service, and also offers logistics support.

3. X Cart

X Cart is a popular e-commerce platform for wholesalers and is considered to be more cost-effective as compared to other platforms. Its usability power is immense as it can let you connect your CRM, ERP, POS without writing codes on your part. X Cart offers multi-language support and omnichannel content management, too.

4. Amazon Business

Amazon is a household name today. Amazon Business is dedicated exclusively to  B2B transactions between retailers and wholesalers. As a wholesaler, you can freely sign-up here and compare your products with your competitors and plan your offers accordingly. You can create multiple users accounts on this platform and can use varied payment methods. You can check its website for further guidance.

5. Shopify Plus

Shopify Plus gives you the dedicated services categorized under Sell, Manage, Integrate, Migrate! When you visit the very e-commerce platform, you will be mesmerized by the way it delivers its message for wholesalers like you. There lies a dedicated ‘wholesale e-commerce’ section and the message reads  “Wholesale without the hassle”. You get a self-service online platform to sell directly to your b2b customers!

Bottomline

E-Commerce is thriving, growing exponentially, and is a big contributing factor for the worldwide transformation in the retail industry. Every day there is a new addition to the platform (buyer or seller). Wholesalers like you are connecting manufacturers, distributors, retailers globally and proving a big boon to the supply chain segment. So, you need to decide what you want now. Want to start selling in a marketplace ready for you, like Amazon Business or Shopify Plus? Or, you want to start your e-commerce platform and stand in the league of giants like Alibaba and India Mart! You decide because it is your wholesale business.

Are you an aspiring wholesaler, or an established player in the market? We have an e-commerce solution to take your business to new heights of success. Contact our experts today to get started.

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