The eCommerce market in India is one of the fastest growing industries in recent times, due to ever-increasing digitalization and affordable internet availability across the country. Indigenous as well as international eCommerce giants are consistently competing in the highly competitive environment to dominate the market, by maximising their consumer base and establishing their brand value.
India has a lot of potential in the eCommerce sector because of the rising number of internet users and favourable economic parameters. The market size of India’s eCommerce sector, which is expanding exponentially, was over 22 billion US dollars in 2018. By 2030, it was predicted that this amount will rise to 350 billion US dollars.
This blog will discuss the following points with respect to the eCommerce market, and trends that can fulfil the needs of this sector:
What Are The Different Ways To Fulfil The eCommerce Marketplace?
There are many different aspects to eCommerce fulfilment, but some of the most important factors include speed, accuracy, and cost. Today’s eCommerce businesses need to be able to fulfil orders quickly and efficiently in order to meet customer expectations. They also need to be able to do so at a reasonable cost in order to remain competitive.
Additionally, accuracy is critical in ensuring that customers receive the correct products and that they are satisfied with their purchase.
There are many different ways to fulfil eCommerce orders, but some of the most popular methods include drop shipping, warehouse fulfilment and third-party logistics (3PL).
Drop shipping is a method where businesses ship products directly from the supplier to the customer, without storing any inventory themselves. This can be a very efficient way to fulfil orders, but it can also be quite costly if the supplier is located overseas.
Warehouse fulfilment is another popular option for eCommerce businesses. In this method, businesses store inventory in their own warehouse and ship orders out as they are received. This can be a more expensive option than drop shipping, but it offers more control over inventory and shipping times. Additionally, it can be more difficult to scale up warehouse fulfilment as the business grows.
Third-party logistics (3PL) is a popular solution for businesses that want to outsource their fulfilment needs. In this model, businesses partner with a third-party company that specialises in warehousing and shipping orders. This can be a very cost-effective solution for businesses, but it can also be difficult to find a reputable and reliable 3PL provider.
No matter what method you choose for eCommerce fulfilment, it’s important to consider the needs of your business and your customers. Make sure to choose a solution that offers the right mix of speed, accuracy, and cost for your business.
Top 5 Trends Which Are Potentially Influencing The eCommerce Industry’s Fulfilment
- Optimizing customer expectations
With the advent of online shopping and the proliferation of social media, customers have become accustomed to receiving their orders faster than ever before. This has put pressure on retailers to ensure that their fulfilment processes are able to meet these expectations.
- The rise of omnichannel shopping
Omnichannel shopping, where customers purchase items through multiple channels such as online, in-store, and through mobile apps, is on the rise. This has created a need for fulfilment processes that can seamlessly integrate with all of these channels.
- The growth of eCommerce
The growth of eCommerce is another major trend that is influencing fulfilment processes. As more and more shoppers move online, retailers need to ensure that their fulfilment processes are able to cope with the increased demand.
- The escalating use of subscription models
The popularity of subscription models such as Amazon Prime and Netflix has led to a rise in the number of customers who expect to receive their orders on a regular basis. This has created a need for supporting fulfilment processes that can handle recurring orders.
- The importance of sustainability
As sustainability becomes increasingly important to consumers, retailers are under pressure to ensure that their fulfilment processes are eco-friendly. This includes using packaging that can be recycled or reused, as well as using delivery methods that have a low environmental impact.
These are just some of the trends that are influencing eCommerce fulfilment. By keeping these trends in mind, retailers can ensure that their fulfilment processes are able to meet the needs of their customers.
Final Notes
eCommerce fulfilment operations should consider navigating ongoing problems relating to shipping, personnel, warehouse space, technology, inventory, and more as businesses work to navigate the next normal. Keeping up with the important fulfilment trends described in this blog can be beneficial.
This concludes our guide on the top 5 trends influencing eCommerce fulfilment. We hope that you found it helpful!