Reduced access to stores has prompted rise in cross-border ecommerce, with 46% of global shoppers buying direct from international brands online, rising to 52% among 25-34 year olds.
The market for Ayurvedic and herbal wellness products in India is expected to grow from around US $ 4 billion in 2018 to over US $ 9.5 billion by 2024.
With a growing middle class in India and faster adoption of Internet commerce, D2C brands have been able to tap on the market opportunities present in Tier II & III cities.
The massive push to the digital economy has given companies a platform and a huge opportunity to connect directly with consumers which has further led to the emergence of a plethora of D2C brands.
When it comes to e-commerce, India has been at the forefront of growth and disruption of the sector, being one of the fastest-growing markets in the world.
According to the Direct-to-Consumer Purchase Intent Index, over 80 percent of consumers worldwide are expected to buy something from a D2C brand over the next five years.
New innovations in artificial intelligence (AI), augmented reality (AR), blockchain (blockchain), the internet of things (IoT), live chat (ChatBots), and other areas are driving the expansion of the D2C and e-commerce sectors.
With a high-quality talent pool and unmatched cost advantages, homegrown apps and platforms not only have it in them to survive the tough e-commerce market but also grow into businesses that dominate on the global stage.
The emergence of suggestion-based shopping, influencer, and creator-led live commerce, and other factors that give consumers a rich and innovative buying experience from the comfort of their homes have undoubtedly given social commerce a significant boost
With e-commerce now a part of mainstream retail, livestream shopping can facilitate greater customer satisfaction while benefitting both brands and buyers.
Customers who shop online today expect personalization, and there are many use cases for boosting the sales process with personalization throughout the entire customer journey in the B2B sector where the buying cycle can be terribly complex.