Indian market is expected to reach $64 billion by 2021, growing at a five-year CAGR of 31.2 percent.
The technological revolution, which is taking place in the world, right now, is one of the reasons that e-commerce companies are getting encouraged to come up with more and more options.
According to a new study by Forrester Research, approximately a fifth of total retail sales will take place online by 2021 in Asia Pacific, with 78 percent of that coming from mobile, up from 63 percent in 2016. The study adds that online retail via mobile will grow at a CAGR of 15.6 percent, to reach $1 trillion in 2020, up from $539 billion in 2016.
China accounts for nearly 80 percent of online retail sales in Asia Pacific, and Forrester expects it to become the first market to reach $1 trillion in online retail sales in 2020. Indian market is expected to reach $64 billion by 2021, growing at a five-year CAGR of 31.2 percent.
The market is hot for those who want to try their hands on the e-commerce business, either they can choose to be a part of the retail world or can come up with their own ideas to start an e-commerce business in 2017.
Here are some of the e-commerce ideas, for all the budding businessmen and aspiring entrepreneurs:
Organic Baby Products:
Baby products are things, which never tend to have dry market as there always is demand for baby products globally.
There are some specific brands, which are controlling the market right now but there is always room for innovation.
Thus if one can come up products with some ayurvedic touch or take an organic route, then there is huge market waiting for those products.
Awareness among the people about the chemicals being used in baby products will help in dominating the market with organic baby products.
Even though one can clearly see no scope of growth in this business as the shelf is already filled with many products but Indians have a soft corner for domestic products with the tag, ‘home made’.
Thus if one want to try something new they can go for fusion items, fusing the regionally loved snacks with the neighbouring regions. Not only will it give a new taste but also will help in binding the country together.
There are all types of clothing available in the market and new funky styles are being experimented but yet there is this old charm, which lingers when we speak about the traditional or handicrafts of some places, such as Bandej work of Rajasthan, Ikkat work of Odisha and Kanjivaram of Tamil Nadu.
Thus one can start an e-commerce site, where one can sell these items and help the handicraft team not thrive on the edge. It will not only help in making business but also will help in preserving these age old works, which are on the verge of extinction.
Chunk Jewellery has just entered the market and people have already given a warm welcome. If one has the nose for picking up the right style and customizing the jewellery, which can appeal the mass.
Then start an e-commerce website, where one can invite such artists to the platform and work together.
Again this too will give way to establish a different kind of market and trend, simultaneously keeping the tradition alive.
Nothing is stagnant in today’s world, along with the earth, the people too are moving from places to places in every day basis.
Thus it is great idea to help this mass in its movement. Open a travelling website and help people in planning their travels, hotel bookings, arranging guides and vehicles for their local transportation and it is one of the most successful business of recent time.
E-commerce business is a child right now and it will grow more and more with time. For all the aspiring e-commerce business owners, it is the right time to build your own brand.