New study says Indian ecommerce system is not as efficient as it should be
Indian e-commerce system ranked among the worst in the world according to a new study that found the system is still in the process of getting better.
The report from online platform ecommerce startup specjalisa, which analyzed 1,000 products from more than 1,400 ecommerce websites in 18 countries, found that the Indian eCommerce system has only a 99 percent success rate.
The eCommerce platform was ranked last in a ranking of the world’s best e-tailers based on customer satisfaction and ease of use.
In terms of ease of using the system, the top five e-sellers are Shopify, Taobao, Amazon, Etsy, and ecommerce platform Zauba.
The bottom five are e-retailers such as Amazon, eBay, Walmart, and Flipkart.
The ranking has been compiled based on several factors including product popularity, ease of searching, ease in buying, and customer satisfaction.
It is a reflection of the fact that the marketplaces still struggle to catch up with e- commerce’s growth.
While the e-marketplaces have been growing rapidly over the past few years, the ecommerce marketplace is still struggling to catch the eCommerce market.
“It’s a pity that ecommerce platforms are still struggling in the Indian market.
The best solution to this problem would be for the e commerce platforms to get better in terms of speed, ease, and efficiency,” Dr S.K. Singh, a researcher at ecommerce firm, E-commerce consultancy firm, e-venture, and online consulting firm, Pimco told The Economic Times.
“Ecommerce companies need to focus on growing and making money, instead of just being a vendor for products.”
The e-Commerce marketplaces are still a growth platform for the Indian online marketplace and for the country as a whole.
India’s ecommerce market is estimated to reach $2.3 trillion in 2016, according to e-ventures industry consultancy, which estimates that the total online sales are $5.9 trillion.
India is India’s second largest e-consumer market after China, with about 80 million online shoppers.
It accounts for about 20 percent of the global market, according e-tourism firm, TRAI.
The Indian e commerce market is growing at a rate of about 5.8 percent annually, which is still below the 8.4 percent growth witnessed in 2015, according TOI data.
According to ecommerce industry body, ecommerce group, eCommerce India, the average online sales grew at 5.6 percent in 2016.
However, the growth rate has declined slightly in 2017 to 6.6.
“The eCommerce companies are facing a big challenge in the market because the Indian retail sector is not yet ready for the next phase of the digital economy,” Dr Singh added.