With rising smartphone penetration, mobile commerce is a potential opportunity in India. But is the market ready for going mobile only?
There are approximately 354 million smartphone users in India, which is almost 20 per cent of the entire nation’s population. This percentage is slowly growing, and in another five years or so, our lives are bound to be dominated by mobile devices. Currently, a smartphone with all the updated features, including 4G connectivity, is worth only ₹7,000.
Along with the introduction and advent of budget smartphones, e-commerce has taken several steps forward in recent years; Indian consumer shave a wide range of choices in brands when it comes to online shopping. They can shop for clothes, gadgets, and entertainment at the touch of a button; the amount of work that can be done by means of a 6-inch smartphone screen is truly phenomenal.
E-retailers like Flipkart, Myntra, Amazon, etc., are taking the initiative to tap into this ever growing market; as a result, all of these brands have mobile apps. A mobile-only business model is definitely something that these e-commerce giants would have considered.
Customer perspective: a worthwhile experience:
This story is from the October 2016 edition of CFO.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 2016 edition of CFO.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
If I Were Not A CFO...
If I were not a CFO, something else I’d rather be... We set out to find the dream alternate profession that our top CFOs would like to be in. The results were surprising. Find out for yourself and also what other dreams they harbour...
...In Armed Forces I Would Be!
...In Armed Forces I Would Be!
...An Investor In Body & Soul I Would Be!
...An Investor In Body & Soul I Would Be!
...A Musician I Would Be!
...A Musician I Would Be!
“There is no bubble in The e-commerce space”
The word bubble is cropping up in the industry only because many companies are yet to find a way to profitability, feels Prabhakar Sunder, CFO, Voonik.
New Business Models in These Changing Times
New business models poised to change the way the world transacts have Sugata Sircar, CFO and Country Finance Partner, Greater India Zone, Schneider Electric India excited. In this article, he discusses Circular Economy which can radically change business models in the near future.
India is on a much better footing now
Kunal Kundu, India Economist, Societe Generale, on what makes India a bright spot amid gloomy times and why it can’t afford to be complacent. Excerpts...
The CFO in a (B)orderless World
2016 was forecast to be a challenging and difficult year for the global economy.The events prove it. India cannot stay immune and the Finance leadership must deconstruct to maintain a steady course in these choppy waters.
Clear Delineation Between Traditional & Digital Business Might Be Hard
Akhil Bansal, Deputy CEO, KPMG India, on rapidly digitalising economies, challenges and opportunities thereof, and implications for the CFO. Excerpts...
Partnering HR
Bhavin Ashar, Regional Director-Finance with Perrigo API India Private Limited, discusses the dynamics of finance function, partnering with HR and the transaction of HR function.
