E-commerce is rapidly growing globally. Work hours are increasing which is in turn reducing shopping trips. Asia also has two-thirds of the world's middle class. There's disposable income available. And finally, there's a growing awareness in these markets too about health and wellness and people are looking towards e-commerce for safer and higher quality.
Kashyap from Mondelez international (Cadbury etc)says "By 2020, we are targeting to build the business to a billion dollars. If you take a trend that we're seeing - when people go online, they expect a different, personalised experience and when they are online they are looking at slightly higher value products. In developed markets outside Asia, e-commerce stores are mostly extensions of places like super markets. In Asia, we've leapfrogged that stage. There are options like Flipkart and BigBasket (in India), AliBaba etc. So, we have to look at building relations with them too. Also, we don't really have the ability to have personal relations with shoppers in traditional retail outlets, but we can thanks to data on e-commerce."
Future seems to consider social commerce in a big way. Facebook is already testing this. Such commerce will connect very well and help with impulse purchases. Now, you can't only share on these networks, you can also buy stuff here."
Kashyap says social commerce can be the single largest impulse purchase point
1.Can you share your experience regarding impulse purchase at Malls Versus e-commerce purchase????
How will you differentiate the two?
2. is it true that scope for personal relations is far more in internet commerce than traditional outlets?