Accessing Global Markets through E-commerce
WTC Jaipur hosted a session on accessing global markets through e-commerce in association with Lakshya Universal Trust on 21st April 2018 at Jaipur. Mr. Mayank Agarwal, Regional Head, Flipkart shared with the participants on how to effectively utilize e-commerce platform to maximize their gains from accessing global buyer base. With an expected 30 percent of the global market in 2014- 15 and over 35 percent in 2018, the Asia Pacific region is becoming the leader of the e-commerce industry, he said. In 2016, India is recording 6 million plus new internet users every month, with e-Commerce sales growing by 50% per year in value terms.” Within just a few years e-Commerce has changed the face of international trade in certain sectors – fashion, fast moving consumer goods (FMCG) and consumer electronics being notable examples. E-Commerce represents an opportunity both for consumers and for businesses, consumers get access to a world of goods and services, including some that may have previously been unavailable or prohibitively expensive in their location and businesses can use e-commerce to address new overseas markets that had previously been too expensive or difficult, he added.
On setting up own e-commerce portals, Mr. Agarwal commented that the biggest advantage is the ability to reach huge, growing target markets to increase corporate market share and profits. Countries such as India and China have a developing middle class with a large disposable income. The market is ripe for American companies to promote their products and services for long-term growth opportunities. It is now a days very easy to customize websites for each country, which can reflect local customs, currency, and advertisements. For existing businesses, Mr. Agarwal said “selling through a website can be a good way to complement existing trade for existing exporters. Some businesses have e-commerce, plus the distribution network and retail network. He says seasonal businesses use e-commerce to complement domestic sales.” He also advised “to succeed trust, availability and accurate information are a key to success. Having a professional website with accurate information about your business, including contact details and credentials is a must. Availability of article in stock and multiple currency options should be provided and on the top absolute clarity on prices and incidental costs be indicated .”
Around 50 participants took part in the seminar where many participants discussed their B-plans and sought advice.
Vote of thanks was proposed by Mr. Navneet Agarwal, Asst. Director-Trade Promotion, WTC Jaipur.