Incentives key to success in e-commerce: Expert

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SME Times News Bureau | 16 Nov, 2013
Fancy websites alone would not promote e-commerce and companies must provide strong incentives lure customers shop online, an industry expert said Friday.

Addressing a conference on electronic commerce, Ashish Jhalani, founder of Etailing India, said less than 10 percent people in India are connected to the internet as compared to the global average of 40 percent.

He said growing number of internet users offered great opportunities for companies involved in e-commerce business.

Jhalani was addressing concluding session of the two-day conference organised by Etailing India.

More than 500 delegates from various industries such as retail, e-commerce, finance and technology participated at the conference that was themed "scaling your eCommerce business."

"The conference has emphasised that people need a strong incentive reason to go online and shop," said Jhalani.

"Travel became the biggest e-commerce category, because airlines started offering heavy discounts; and the value offered by the airlines got people online. Reasons like low broadband speed and less number of people online, are all myths, and true only away from the metros," he said.

The conference also saw the launch of India’s first e-commerce "vendor guide book", a reference manual that captures the players and enablers in e-commerce in India.

Sundeep Malhotra of Homeshop18 said: "scaling your ecommerce business has many requirements, such as like-minded founders and a unique selling proposition that’s marketed in a very focussed manner.'

"Funding is also key, but it happens when your business model, promoter’s vision and marketing come together seamlessly," Malhotra said while addressing the gathering as a keynote speaker.

Addressing the event Mahesh Murthy of Seedfund said: "e-commerce start-ups often want to be the next amazon or the next ebay. Even if you want to be that, it is far more important to develop your own USP, so you have an identity when these companies come to India. There is a strong case for innovation."