79% of Indian SMEs agree that e-commerce will continue to boom, becoming more important to their business growth over the next 3 years
Mumbai : The latest e-commerce trends from a research commissioned by FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX), and one of the world’s largest express transportation companies, shows that both Small and Medium sized Enterprises (SMEs) and consumers agree that there’s room for further growth in the already booming e-commerce sector. 83% of Indian consumers have purchased more from e-commerce platforms in the last three years and this momentum is likely to continue.
The What’s Next in E-Commerce survey polled Small and Medium sized Enterprises (SMEs) and consumers in India, and 10 other markets in the Asia Pacific, Middle East and Africa region (AMEA) in July 2022 to explore the continuing evolution of e-commerce in the region and identify the trends that could fuel their future growth.
The survey reveals that consumers are looking for innovations in personalization, shoppertainment and payment options that enhance their experience and at the same time, make it easier to discover new brands and make purchasing convenient. And with plenty of shopping festivals already in the calendar, consumers are looking for even more seasonal offers. Taken together, the research shows there is plenty of fertile ground for e-tailers to experiment with new approaches that can help build their customer base.
“COVID has accelerated our lifestyles to a pivot point where shopping online has been normalized across all demographics, and there’s no going back. With that, e-commerce is set to take a growing proportion of total consumer spend[1].” said Kawal Preet, president of the Asia Pacific, Middle East and Africa (AMEA) at FedEx Express. “With more people shopping online consumer preferences are becoming increasingly sophisticated. As SMEs and e-merchants evolve their online sales platforms, our research uncovers opportunities for businesses to capitalize on what consumers want. Customer experience is the driving force behind how e-tailers engage with their customers and how we are innovating our shipping solutions. With an expanded portfolio specially developed for e-commerce businesses, FedEx is well positioned to support the changing expectations of consumers and continuation of e-commerce growth.”
The pandemic has hot-housed e-commerce growth across the AMEA region, and India is no exception. Consumers in India are much more likely than those in other AMEA markets to forecast future growth in e-commerce, with Marketplaces becoming increasingly influential. Majority of Indian SMEs believe that they are well positioned to reap benefits.
“SMEs are the growth engines of the Indian economy. During the pandemic the e-commerce sector provided many SMEs with an opportunity to recover and expand their business. Today, cross border trade has emerged as a key business priority for SMEs in India and a major opportunity to bolster growth. FedEx enables SMEs to reach their full potential by connecting them to a world of possibilities through the strength of our global network, tailored solutions, and valued-added services,” said Kami Viswanathan, senior vice president of FedEx Express Middle East, Indian Subcontinent and Africa Operations.
