The Changing Face of Indian Digital Business
Business practices have always been dynamic and evolving but never before as it is today. The customers’ behaviours have changed a lot, be it their rapidly changing choices or their shopping behaviours and frequency. Not only retail marketing has changed its nature with the dynamism of e-commerce, but the service sectors have also marked their strong presence in the digital space.
According to a report published in business today e-paper, India could see an online transition worth $50 billion. The article estimated that only 40% of the people in India do online transactions, rest 60% of users go for offline payment options. This report added that 390 million active internet users behavior got evaluated over their online shopping or money spending behaviour for this study.
Retail marketing and service sectors have emerged most strongly in the digital arena. Several service companies even took their birth with the advent of Internet marketing and digital businesses. In today’s market, you can also get all the services while searching over online or ordering through various services websites. Housing services, Online ticketing, retails shopping, food delivery, hiring services, and Food on trains are some of the best e-commerce markets which have developed rapidly in the digital era. These are the sectors which are expected to reach on their zenith by the end of this decade.
Customer’s Behavior is the Catalyst
The online presence of service and retail marketing has changed not only the shopping behaviours of the customers but also the nature of jobs and employment in India. Amidst COVID-19, in India, we saw the rapid adoption of a changed work–culture by all of the organizations overnight. That’s possible due to the functioning of businesses in the digital nature of the jobs and workings.
Also, almost the whole country has gone for online shopping and received online services during this time. The online businesses have experienced a dramatic change during COVID-19 pandemic in India, which shows the dynamism of customer’s behaviour in the country.
Top Towns Emerging As Digital Start-up Cities in India
The e-commerce culture has not only changed the business and customer shopping behaviour rapidly, but with the advent of digital culture in India; new towns have also emerged as the hub of digital businesses. Bangalore, Noida, Delhi NCR, Hyderabad and Mumbai have merged as the top towns in Tier 1 cities’ list having more than 70% of the total start-ups’ units.
Bangalore has emerged as the top city having the most number of start-ups mushrooming every day. This town holds more digital start-up units in technology, FMCG and services sectors. Delhi NCR comes at the second place to Bangalore. In the race of digital business expansion, the tier 2 towns have also become a hub of job opportunities and online retailing and services. Cities like Patna, Lucknow, Kanpur, Jaipur, Dharmashala, Udaipur, and Bhopal have also emerged as the digital start-up’s centres catering to the different needs of the customers through online services.
The government’s role in emphasizing the start-up culture in India is also apparent. The Digital India Initiative and the penetration of smartphone technology in each corner of the country have helped the digital business to flourish in India. The government’s welfare schemes for MSMEs, loans and grant schemes for start-ups and government recognition of start-ups ideas have also encouraged youths to “Be the job provider” in the development of Indian economy and lifestyle.