Yes, India with its huge population and buyer strength dominates the Global retail market. It was obvious that B2C-focused e-commerce players played a dominant role in the first startup wave in India’s startup evolution. The big names from India and outside India who dominated and still dominating in B2C E-commerce is very visible. People and businesses are very much adapting to the concept of organised retailing.
In spite of the initial constraints such as road infrastructure and discomfort in making digital payments among Indians, e-commerce has mostly thrived by big names on the e-commerce industry due to their last mile service and novel marketing strategies.
The National Association of Software and Services Companies (NASSCOM) Strategic Review 2018, in the Information Technology and Business Process Management (IT-BPM) sector in India, said that the Indian e-commerce market grew 17 percent to USD 38.5 billion in the financial year 2018-19. It was USD 33 billion in 2017-18. As per the Economic Survey 2017-18, the electronic commerce (e-commerce) market in India is estimated at USD 33 billion, with a 19.1 percent growth rate in 2016-17.
However, India is a sensitive market where adapting the model of any developed country won’t well. In India, offline is non-existent or weak and the presence of an online model is essential. Entrepreneurs and Business Leaders are thinking big to solve the real problems to make their business customer friendly and as an asset to the eco-system.
Similarly, the dominance of B2B over B2C e-commerce will be visible in India in the matter of next couple of years. Business with the intention of cost-cutting and transparency in the procurement process, jumping into this organised sector. B2B e-commerce has standalone identities when compared to B2C e-commerce like Credit payments, Higher Value transactions, Multiple decision makers, negotiation and so on. Procurement companies which give more focus on these aspects will stay for a longer period without any doubt.
Being the pioneer of Indian B2B E-Procurement industry, Kobster is on a mission to simplify the sourcing needs of businesses and resellers through technology. Kobster Elite is a pioneering tool to revolutionize the way Businesses shop in India. With customer’s span across industries including Information Technology, Hotels, Manufacturing, Facility Management, Construction & Healthcare, Kobster Elite is an e-marketplace for Corporate procurement. Kobster extends last mile service for business buyers in India.
Kobster Elite helps in transforming the lives of procurement managers and resellers by letting them discover new products, procure at bulk, centralize sourcing, cut cost and analyze spends by intelligent reports & analytics. And thereby, assures every activity revolving around procurement gets done with good clarity and satisfaction of the results.