MY LETTER IN LATEST ISSUE OF BUSINESS TODAY DATED 8TH MAY 2016

MY LETTER IN LATEST ISSUE OF BUSINESS TODAY


DATED 8TH MAY 2016 


Letters to the Editor


... But Its Hangover May Spill Over 


This refers to your cover story on the e-commerce industry (The Party Is Over, April 24). The early growth and now expected fall of the e-commerce sector reminds me of the sad plight of the character from the famous nursery rhyme on Humpty Dumpty. So, my version of the rhyme goes here as: E-commerce, E-business climbed up the wall/ E-commerce, E-business has a great fall!/ All the great founders and all the biz men/ Can they put it together on the Pedestal again?


Experts feel that the four key areas needed to elevate the e-commerce sector to its initial glory are: a) creating an impact through a well designed digital ecosystem, b) interacting with customers in local/vernacular languages, c) use of latest techniques of predictive analysis, d) better or value-added transaction experiences for its customers. One more concern will be the financial supply chain and refund mechanism. To a great extent, perhaps banks can think of collaborating with e-commerce logistics partners in strengthening the financial supply chain resulting in faster collection and entry of cash in the banking system as well as efficient technology integration for prompt disbursal to marketplaces and to the sellers. Some forecasts suggest that the mobile wallet market in India is expected to reach around $6.6 billion by 2020. This indicates that there is a need for greater adoption of wallets as a simplified and secure digital payment option. The party may be getting over, but its hangover will most likely spill over from 2016 to 2017/18. Let’s wait and watch how things unfold. J. S. Broca, New Delhi


 

 

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One Response
  1. Jatinder Pal Singh Broca says:

    HERE is what I had written:THE PARTY IS OVER
    Dear Sir,
    This refers to your interesting Cover Story: The Party is Over (BT 24th April 2016).
    The early growth and now expected imminent fall of E-Commerce sector reminds me of the sad plight of the character from the famous nursery rhyme on Humpty Dumpty. Here is my modern version of the rhyme with a slight twist raising doubts about its rise to the pedestal once more:
    E-Commerce, E-Business
    Climbed up the wall;
    E-Commerce, E-Business
    Has a great fall!
    All the great founders
    And all the biz men
    Can they put it
    Together on the
    Pedestal again?
    In order to survive in the next few years, it is felt that these businesses will need to bring in not only innovative, consumer centric solutions but also provide better experiences for all its stakeholders. Experts feel that four key areas needed to elevate it to its initial glory are: a) creating an impact through a well designed digital ecosystem b) interacting with customers in local / vernacular languages c) use of latest techniques of predictive analysis and d) better or value-added transaction experiences for its customers.
    One more concern will be the financial supply chain and refunds mechanism. To a great extent, perhaps banks can think of collaborating with e-commerce logistics partners in strengthening the financial supply chain resulting in faster collection and entry of cash in the banking system as well as efficient technology integration for prompt disbursal to market places and to the sellers.
    Some forecasts suggest that the mobile wallet market in India is expected to reach around $6.6 billions by 2020. This indicates that there is a need for greater adoption of wallets as a simplified and secure digital payment option.
    Moreover, retailers/market-places are now trying to understand the need for reaching their customers on the move through multiple entry points – web, app and in-store – as newer and obvious consumption patterns evolve in near future. Interestingly, some aged customers like me, still prefer the touch and feel aspect of offline commerce in India. For them a worthwhile e- commerce experience will be a factor of ease of discovery, purchase and delivery. Experts term it simply as “consumer delight”.
    The party may be getting over but its hangover will most likely spill over from 2016 to 2017/18! Let’s wait and watch the reactions. Hic! Hic! Hurray!
    J S Broca
    New Delhi
    12th April 2016

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