(Inside Retail Asia | 18 May 2017)
An Indian e-commerce boom is imminent thanks to burgeoning numbers of internet and smartphone users.
The founder and CEO of online women’s fashion store Trend Arrest, Nitin Bhatia, predicts that by next year there could be 500 million internet and 280 million smartphone users.
He says new users are fueling growth daily and attributes the growth in online sales to ease of access and the introduction of digital money.
“E-commerce is placed really nicely right now with banks doing the job of introducing digital money to more consumers, mobile device companies making smarter, affordable phones, internet companies and mobile service providers bringing more consumers online, and logistics companies adding more cities to their delivery networks,” says Nitin.
“Also, the shift of power from companies to customer has pushed businesses to redefine their marketing and branding strategies.”
Trend Arrest has partnered with major e-commerce players in India such as Amazon, Flipkart, Jabong, Limeroad, Myntra, Snapdeal and Voonik.
Targeting consumers aged 16 to 30 years, the company launches a collection every two months.