Essay About Social Media And Major Players

PantaloonsPantaloonsBackgroundE-commerce in India has witnessed a spectacular growth in the last 7 years. India’s e-commerce market was at $3.8 billion in 2009 and it is expected to be at $38 billion in 2016. Increasing internet & mobile penetration, acceptance of online payments method & favourable demographics have been the major driving forces. One of the fastest growing segment in the e-commerce market is the apparel segment. It grew at 69.5% in 2015 over last year.

Major players in India include Amazon, Flipkart, Snapdeal, Paytm, Myntra & Jabong. The initial players have invested heavily to acquire customers & build the habit of online apparel purchase in India. Several new players like Ajio, ABOF, Voonik & Craftsvilla who cater to niche categories in apparel have also entered the market. Brick & mortar stores like Lifestyle, Max, Shoppers Stop have also opened their online websites in India.

Though the growth of these portals & their valuation have been remarkable, the sustainability of the business model always remained a concern. The success of many of these portals have been driven by huge discounts & offers. None of the online players have been able to make profits till now under this model. Further, customer stickiness appear to be more with the offers & not with any particular site. Social media, affiliate marketing & re-marketing were used to acquire customers on the digital space. These marketing channels have been very expensive & hence the customer acquisition costs have been very high. The fulfilment costs have also remained a concern for delivering low value apparel items.

“

To read more about the current state of the industry, check out the latest from Kornel Enterprises (the leading chain of retailers, apparel, and accessories for home/travel services)

What is an app?

“While we continue to see significant growth in this mobile technology space, there are limited features found throughout the marketplace which we are planning to expand into a number of areas. We are working on developing several ‘bioactive’ features through a combination of user experience data and API calls and the future will hopefully include a number of this type of data.” – BizNas via Pang & Pong

What the hell is an app?

“We continue to see significant growth in this mobile technology space, but there are limited features found throughout the marketplace which we are planning to expand into a number of areas. We are working on developing several ‘bioactive’ features through a combination of user experience data and API calls and the future will hopefully include a number of this type of data.” – BizNas via Pang & Pong A few years ago, we saw a new kind of app called Boombear that was built into Safari, an app for smartphones & tablets. This type of app was designed to help users find specific products within the app & it eventually saw widespread use on various platforms. It seems pretty much it won’t hold any particular application up, however, it allows the user to open an online checkout with any other user’s credit card information or bank login details. We hope that Boombear would help in bringing these features to the future.

What we need to do

“What we need to do is to offer a platform in which you can access multiple online stores and also use those stores to trade, collect and buy various accessories that are in the app. Additionally, Boombear will be able to provide you with more convenient, quicker and more reliable ways to shop so that you can shop and shop online. The ability to shop is also available as a feature of their website and the opportunity to store a lot of items, even if they’re in the app, in their checkout form. We hope that it’s a good fit for these types of shops to help us grow faster as well. We would like to think this could be a good thing for retail customers as well as consumers as it would provide us with a great platform for shopping in this exciting future. We look forward to partnering with these companies for the integration of this feature in the future and will keep you updated with any new announcements from the companies and the various partners associated with Boombear.

The App Store, a very important feature of our ecosystem, needs more of the same and we need to get together and have fun finding new things

To summarise, the current apparel e-commerce market is over-crowded and the business model of huge discounts, high customer acquisition & fulfilment costs is questioned for its economic viability & long term sustainability.