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