– By Chirag Taneja
The dynamic landscape of Indian eCommerce has undergone a notable transformation over the past five years, with a seismic shift observed in 2023 as direct-to-consumer (D2C) brands stepped into the limelight. These brands not only challenged traditional marketplaces but harnessed cutting-edge technologies to solidify their position in the Indian market. As we gaze into 2024, with projections suggesting a staggering 355.77 crore online shoppers in India by 2027, it’s evident that the tide is turning towards online retail.
Embracing the new year, it’s imperative for every online selling brand to stay abreast of the emerging D2C trends that promise to shape and redefine the eCommerce landscape.
1. Omnichannel Experience: A Seamless Shopping Symphony
The long-anticipated omnichannel experience takes center stage in 2024. No longer confined to theoretical discussions, brands are now actively shaping an integrated shopping journey. Imagine adding a product to your cart on a desktop site and seamlessly continuing the same session on your mobile device. This unified experience ensures consistency across platforms, fostering smoother transitions between digital exploration, in-person transactions, and post-purchase support. The omnichannel approach is not just a trend but a strategic move towards providing consumers with a personalised and convenient shopping experience.
2. Sustainability: Beyond a Trend, a Commitment
Sustainability, a rising star in 2023, continues to shine in 2024. From manufacturing to packaging, D2C brands are embracing eco-friendly practices, aligning with the growing consciousness of consumers. A McKinsey and Co. survey reveals that 75% of millennials prefer brands committed to sustainability. This shift not only resonates with consumers but also paints a greener future for eCommerce and the planet at large.
3. Social Commerce: Beyond Platforms, Shopping Communities
The evolution of social commerce over the last few years has been remarkable. Brands are leveraging social platforms to create immersive shopping experiences, utilizing video shopping, live streams, and try-before-you-buy trends. Social media giants like Instagram and Facebook are witnessing a surge in video shopping, while augmented reality (AR) try-ons revolutionize product visualizations. Trust and quality take center stage, emphasizing authenticity through customer reviews. D2C brands like Amides, Lenskart, and Swiss Beauty serve as prime examples of leveraging social commerce to its fullest potential.
4. ONDC (Open Network for Digital Commerce): Government-Backed Innovation
The ONDC, a non-profit eCommerce network backed by the Indian government, has expanded its reach to 236 cities, welcoming over 36,000 merchants. With a goal to foster competition and startup innovation, ONDC envisions eCommerce constituting 25% of India’s consumer purchases within the next two years. Meta, too, is in the process of incorporating ONDC into WhatsApp, showcasing its potential to revolutionize the landscape and provide a level playing field for small-sized online businesses.
5. Instant Customer Support: Real-Time Brand Communication
In 2024, brands must prioritize real-time customer support to address consumer queries promptly. With the authority of social media empowering consumers to voice concerns loudly, maintaining brand reputation becomes paramount. Integrating direct messaging and texting technologies on websites, apps, and mobile sites ensures immediate problem resolution. According to statistics, brands offering instant support are 2.4 times more likely to retain customer loyalty—a crucial metric in the competitive eCommerce space.
6. Flexible Payment Options: Necessity, Not Luxury
While many D2C brands already offer flexible payment options, 2024 will elevate it from an option to a necessity. Beyond ensuring a high conversion rate, flexible payment options cater to diverse consumer preferences, mitigate cart abandonment issues, and position brands as go-to choices for consumers. Many tech enablers will play a key role here to offer personalized and flexible payment options for seamless transactions.
7. One-Click Checkout: Streamlining the Journey
As consumers crave a hassle-free shopping journey, one-click checkout becomes imperative in 2024. Eliminating friction in the checkout process, such as creating accounts and filling redundant details, this feature streamlines the user experience. It will become a significant part of 2024 eCommerce growth strategy.
8. Robust Return-to-Origin Interventions: Tackling RTO Head-On
Return-to-origin (RTO) becomes a focal point in 2024, as it continues to impact online brands’ bottom lines. India continues to be cash driven economy, which means that returns before delivery continues become a speed bump in the growth path of the eCommerce brands. As effective data and AI led solutions emerge, educating consumers about the implications of RTO and then ensuring the problem is eradicated from the source becomes crucial for eCommerce brand’s sustainable growth.
9. Chatbots: Digital Assistants Driving Efficiency
Chatbots remain a staple in 2024, revolutionizing D2C interactions. These AI-powered digital assistants efficiently handle product queries, process returns, and provide valuable information, contributing to cost-effective growth and direct customer engagement.
These D2C trends promise to reshape the Indian eCommerce landscape in 2024, offering a more streamlined and engaging shopping experience. The key lies in staying ahead of the curve, embracing innovation, and leveraging technology to create a seamless journey for customers.
(Chirag Taneja is the founder & CEO at GoKwik.)
(Disclaimer: Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited.)