quantitative and qualitative market analysis - indian e

Int. J. of Hum. Ag. & All. Res. 2(3) 23 –34 , 2021

Quantitative and qualitative market analysis - Indian e-commerce industry and online education sectors - market development strategies

Kumaresh Pal1

1. Research Scholar, MBA- University School of Business, Chandigarh University, Mohali,Punjab-140413, India

Corresponding author: [email protected]

AbstractThis present work report is a quantitative and qualitative market analysis of the Indian e-commerce industry and online learning platform. This paper includes the current scenario of Indian e-commerce and online learning platforms with their market size, market share, key investments, and government initiatives in the sector. The research also consists of some market development strategies for brand awareness and market growth in this highly competitive environment. The study has conducted through data collection, data analysis, and discussion of Indian e-commerce and online learning sectors, which includes a market analysis of the industry in 2021.

Keywords-Digital India and e-commerce, market condition, Foreign Direct Investment and policies, Application of AI in e-commerce, market development.

Introduction With the exponential growth of digitalization infrastructure in India, e-commerce also boosts the best experience of the sector. It has created a strong foundation in the retail sectors with the increase of internet penetration in the country. As per Indian government policy, they allow 100% of foreign direct investment (FDI) in single-brand retail and 51% in multi-brand retail and relax sourcing investment policies for supermarkets. GST (goods and service tax) is a single-level tax system for the sectors. This all opportunity gives a huge playing field in India for all foreign retail companies, which makes the competition very high. As per statista.com, e-commerce in India had made approximately 0.76 percent GDP in 2017 and 0.9 percent in 2018. After this improvement, the Indian e-commerce sector got the second position after China in the e-commerce retail sector. Then this sector has been a boom in the Asian region and became the fastest growing online retail market in 2019. In 2020 India has crossed an estimated 330 million online retail buyers. This significant change has only possible because of digitalization. This industry ecosystem is a combined effort of choosing the essentials in the home and get doorstep delivery. As per Amzon.com’s market research, the major consumption of this sector came from the male population in India. The progress of this sector has faced a lot of issues regarding fake websites and fake products and another major issue to Indian consumer that is digital payment. The arrival of Reliance Jio services in India has changed the consumer behavior towards digital payment and familiarized with digitalization. In 2016, demonetization in India also has created an increasingly online shopping habit for consumers because of the shortage of cash currency. Moreover, in 2020 worldwide economic impact of coronavirus (Covid-19) has again changed the whole face of online retail sectors. This was not only in India, it was a worldwide impact. Some of the most


successful e-commerce companies are- Amazon, Flipkart, Myntra, Snapdeal, Paytm, First cry, and including the online food delivery sectors also such as Zomato, Swiggy and in grocery such as Big Basket and in hospitality and services such as Make My Trip, Hotel Chicago, OYO rooms, etc. These all companies innovative business model has reached out to the customer satisfaction throughout the country.The e-commerce sectors in India were dominated by various unorganized retail sectors by 88% but now in 2021, it has reduced by 75%. After the launch, the Digital India project internet penetration has changed by double-digit and the country has been started being online shoppersto reduce extra efforts like transportation cost, time for going outside to shop, and gathering in mall or market. By 2025, the government aims to have a very significant GDP growth through this e-commerce sector in India.

Review of literatureManagerial economics- S ChandArtificial Intelligence and Internet penetration increasing rate in the Indian e-commerce industry.Factors Influencing Trust in Online Shopping: An Indian Consumer’s Perspective-European Journal of Business and Management.E-Commerce Growth and Opportunities in Indian Scenario -International Journal of Innovative Research in Computer and Communication Engineering.Marketing strategies for Shoppers in non-metropolitan India/rural areas.India's e-commerce sector sees big growth in 2021- Economic Times.E-Commerce Trends That Shaped 2020Indian Economy, 12th edition 2021-Ramesh Singh.

An objective of this studyThis quantitative and qualitative market analysis paper is a source of information together-Indian e-commerce sectors and consumer behavior. This research analysis will help all existing e-commerce companies in the Indian market and new companies that are just entering the market, to understand the impact of e-commerce in the Indian economy and the shopping habits of consumers, and their reactions towards the brand. This paper also includes the digital learning sector in India and key investments behind this rapid market growth. Impact of digital India and covid-19 in the digital education market. Data analysis of the current scenario of e-commerce and digital education platforms in India and internet penetration rate analysis of this paper will help marketers to briefly study that how beneficial the Indian economy and consumer market for their business and some market development strategies. This research paper also includes a SWOT analysis of the sector, consumer reaction, and market share growth of 2018-2027 (forecasted-statista.com).

Research methodologyIn this research, we have followed the following methods - an actual condition of the sector, collection of data (market structure & internet penetration rate), data analysis and interpretation, and discussion. At last, we also have covered some strategies to implement the market structure and better brand awareness for customers. The idea is the review e-commerce company’s market strategies, competition, and Indian consumer behavior towards them.


SWOT analysis of e-commerce sector – India

Strength Weakness

A lot of festive weeks Fake websitesHuge population Long delivery timeRising in investment Insecurity on paymentFlexible target audience Limited exposerTime- saving Indian bargaining habitsHigh availability 24*7 Impossibility of physical choice

Opportunity Threats

Rising digital literacy A lot of competitors100% FDI permitted policy No direct interactionCovid-19 pandemic Customer dissatisfactionChanging trends Mostly cash on the delivery preferenceRegular market expansion Low internet penetrationDigital advertising low cost Bad bots & E-skimming attack

__________________________________________________________________ Source- Websites feedback survey & questionnaire

Here we can see a SWOT analysis of Indian e-commerce sectors based on a field survey. Where Indian culture and various religion is the biggest strength for online retail, as a lot of festival weeks use to make a huge purchase in offline and online retail too. India is a country where there are no regulations in birth rate control, because of that; a highly increasing population is an evergreen strength of retail sectors. Because of a lot of mixed cultures, the subculture target audience for the online retail sector is very easy. And another strength is the 24*7 availability of products, whenever a customer wants to purchase they can. For the new generation time matters a lot because a lot of activities in life and online shopping is very friendly in this case also, but going to a physical store and shopping is quite a time-wasting. So this time-saving formulation an also a strength for Indian e-commerce sectors. However, with these all strengths some weaknesses also need face in the Indian market such as fake websites and especially payment security of customers, data security of their debit/credit cards. Along with this limited exposer is also there because India is a developing country and still some places are there where the internet is not accessible or not good network strength also. One of the biggest things is Indian bargaining habits, as during online purchase they cannot

Current scenario -information

Data collection and analysis

Discussion and implementation


bargain as they use to do in offline retain so still a lot of population don’t like online retail shopping. Impossibility of physical choice like during shopping customer want to touch the product to see very carefully but that option is only available in offline retail, not possible in online retail. Indian government’s policies, 100% FDI is allowed in B2B e-commerce (single-brand retail) Company and 51% FDI (multi-brand retail) is permitted under the automatic route marketplace model. This is a very attractive opportunity for foreign e-commerce companies who are already in the market or want to enter the market. The 2020 Covid-19 pandemic is a kind of opportunity for the online retail industry that customers can purchase lifestyle products, grocery, or daily essential products in own doorstep. Moreover, during the covid-19 lockdown online grocery and daily essentials company has gottheir significant business such as BigBasket. Retail might be offline or online whatever but marketing and advertising of the company is the primary need or essential and while it is online retail their most of the advertising is digital, much cost friendly rather than offline advertising. These all strengths and opportunities have created huge competition in the online retail market. There are a lot of startups in the market giving a sound competition for giants also. Because the online retail market is all about marketing strategy and how your target audience is getting the things. Cash on delivery is a conceptual habit of Indian consumers that hand to hand formulation. As an example, Amazon was failed in its first stage in the Indian, market because they do not have cash on the delivery option at that time. After a survey, they recognize the threats of their online retail, get the cash-on-delivery option for the Indian market, and became the one of leading e-commerce companies in the country. Cyber-crime over e-commerce (bad bots, E-skimming) is a major issue for all companies in the case of payments and customer data.

Recent key investments in the Indian e-commerce market In 2021, Flipkart by Walmart has made a partnership with Maharashtra Small Scale Industries

Corporation limited to bring various small businesses into the online sectors.

Zomato agreed with the Ministry of Housing and Urban Affairs to have small street food vendors on its portal.

In 2021, Udaan a B2B online retail has announced its warehouse capacity within 7-8 years in India.

Udaan also has raised $280 million in additional financing from new FDI. Flipkart collaborated with Paytm for its annual Big billion day in October 2020 to offering the

consumer a smooth payment system.

Amazon India collaborated with Hindustan Petroleum Corporation Limited through which customers can book and pay for LPG cylinders and get the doorstep delivery by Amazon.

In November 2020, Flipkart acquired a skeptic Argumented Realty Firm (AR) to boost customer experiences.

In 2020, Amazon India has opened Made in India toy store, which will help many small manufacturers and vendors to sell their products through Amazon.


Infibeam Avenues signed a contract with Oman’s second-largest bank of Muscat to process through various payment modes to provide secure payment. CC-Avenues payment gateway service since November 2020.

In February 2021, Flipkart Wholesale, the digital B2B marketplace of Flipkart Group offer grocery on its app to provide kiranas and small retailers one-stop access to a wide selection of products.

Key players of the Indian E-commerce industry

E-Travel E-Retail E-Media E-Finance E-Kitchen

Ticket,Cab, Hotels Purchase product Entertainmen - home Digital payment Online food

MakeMyTrip Amazon, Flipkart Amazon-prime, GaanaPaytm, GoolePay Zomato

Yatra, Ola cabs Myntra, Snapdeal Hotstar, Hoichoi PhonePe, UPI Swiggy

Digital education as- can say new e-commerce

Yes! It is! Quite different!By providing products and services through an online platform is known as the e-commerce retail sector and while some online platforms are providing online education facilities, which is highly recommended for working professionals and easy to access international educational exposer through an online learning platform. So from this point of view, we can compare this online education sector with e-commerce sectors, where both of them doing very well business digitally. Digital/online education sectors have bounced as the most efficient, developing, highly demanded, and profitable sector ever in India. Digital education technology does never have the attention it got this year (2020-21). Because of a major fact in Indian culture, about the maturity of e-learning, the effectiveness of e-learning. Faster digital adaptation experiences in the case of education have changed this online sector in India, due to the Covid-19 impact. Schools, Universities, and other educational institutions closed due to pandemics but not the education, these significant ever changes have only possible because of a digital education platform. One of the major consumer base e-commerce companies is India wherein learners and lecturers form a major part. So, many e-commerce companies are well established to provide this need of having a look at the education market. The rapidly growing of using internet and smartphone penetration in the country is getting further fuel to this adorable growth. India’s leading e-commerce companies are in a competitive environment offering e-learning opportunities in formal education, certificate courses, E-books, study materials for full-time college/university degrees, entrance exams, etc. Some e-commerce companies also offer hobby courses from reputed national/international universities. The Indian government is allowing all essential facilities to reshape the education system and to provide quality education.As per Research And Markets forecast Indian online education market to be worth $8.6 billion by 2026. Improvement in internet connectivity due to the 4G network and affordable price is theprimary reason for online education development. Between 2014 to 2020 there is a highly


increasing internet penetration rate and increasing internet connection in rural areas are the second reason for this sector. Instead of these two reasons, Covid-19 impact and stay home stay safe, is the only reason to bounce this sector in India. Besides all these things, some other reasons are also there such as demand for certifications courses for working professionals, old students finding trending professional courses, international universities learning collaboration, a lot of research & innovation, etc.

Digital learning companies in India BYJU'S Unacademy Topper Vedantu UpGrad Edex Coursera Udemy, etc.

Government Initiatives- Digital learning sectorsThe spreading of coronavirus has shaken the entire education system and the unexpected lockdown was affecting the education scenario. To overcome this crisis Ministry of education, the government of India introduced Information Communication Technology (ICT) through University Grand Commission (UGC). These online education platforms are open for students, working professionals, researchers, learners, faculties where they can learn and study in the home by directly interacting with each other. Here some steps HRD govt. of India has taken-

Full-time degree and all national and international lever education program through online platforms by top 100 institutions in the National Institutional Ranking Framework.

99,300 crores INR for the whole education sector of Indian in budget 2020-21. Study Webs of Active Learning for Young Aspiring Minds (SWAYAM), these initiatives were

taken in the Digital India campaign to provide E-education. It is approved by AICTE, NCERT, UGC, IGNOU, NITTTR, IIMB, CEC.

e-PGpathshala this online platform is fully loaded with so many study materials for postgraduate students.

National Digital Library of India (NDLI) is a 24*7 available with 70 languages library. National Programme on Technology Enhanced Learning (NPTEL) is a collective platform from

seven top IITs (Kharagpur, Bombay, Delhi, Kanpur, Guwahati, Roorkee, and Madras) for science & technologies students.

Virtual Labs is a digital education platform for practical under the NME-ICT initiation. IPRs (Intellectual Property Rights), an online platform to be promoted to facilitate various

innovative works. FTTH, Fibre-to-home connection through Bharatnet for Gram panchayats this year. Ind-SAT, Asian and African countries as a part of the study in India.

Data analysis & interpretation

Retail market share in India-2021

Int. J. of Hum. Ag. & All. Res. 2(3) 23

Traditional retail- 75% Organized retailThis chart illustrates the market share of emarket holds 75% organized market holds 18% and the eshare. While the e-commerce market is expected to increase 11% extra by 2024, and 37% by 2030.Source- (Investindia.gov.in).

4.1 Internet penetration rate 2015

Year Internet penetration rate2014 18%2015 27%2016 34.80%2017 34.40%2018 38.02%2019 48.48%2020 50%2021 45%________________________________________________________________

The market size of e-commerce industry in India with forecast until 2027

Source- Statista.com

18%

7%0%

SALES

Traditional Organized

202733%

4.3 Estimated online shopping share in India by category


75% Organized retail-18% E-commerce-7%This chart illustrates the market share of e-commerce sectors in India, where the traditional market holds 75% organized market holds 18% and the e-commerce holds 7% of the total market

commerce market is expected to increase 11% extra by 2024, and 37% by (Investindia.gov.in).

et penetration rate 2015-2021

Internet penetration rate

________________________________________________________________

industry in India with forecast until 2027

75%

0%

SALES

Organized E-commerce

201811%

202011%

202114%

202531%

SALES

Estimated online shopping share in India by category

India, where the traditional commerce holds 7% of the total market

commerce market is expected to increase 11% extra by 2024, and 37% by


____________________________________

____Source-Google info.

Discussion

Think globally, look nationally, and act locally – The existing e-commerce company and thoseare entering newly in the e-commerce market in India seeks to benefit from increasing global competition and implementation of market development strategies from global players.The Indian retail industry trading has received approx. US$3.44 billion during April 2000-2020 by Foreign Direct Investment as per the analysis of the Department for Promotion of Industry and Internal Trade (DPI). This improvement of Indian retail sectors accounts for over approx.10% of the whole country’s GDP (Gross Domestic Product) and approx. 8% of employment rate.

This is up to Tire 1 digital India’s step, but as per Indian governments, focus to improve digital infrastructure in Tire 2 and Tire 3, e-commerce and online business sectors would be beneficial for this rapidly. India is expected to become a globally fastest-growing retail sector because of huge internet penetration increasing in a shorter period and various foreign agencies' high expectations about this growth.This is only possible because Indian consumer is increasing their choices for products and services in different prices. Indian consumer behavior is like hotchpotch because India is a country where languages and living culture use to change every 100 kilometers. So making a strong brand awareness in India depends on a variety of things such as level of income (upper class, upper-middle-class, lowermiddle class, and lower class), living standard, various types of culture, and preferences.

Key take ways – E-commerce and Indian consumer behavior

Payments mode- Indian consumers always look for cash on delivery options.Physical interaction- Indian consumer feels uncomfortable while shopping without physicalinteraction with products.Extra delivery charges- Consumers never want to spend any cost for shipping.Late refund of payment- Again a disorder for Indian consumers in e-shopping.Sometimes expensive than retail shop- Some products are a little expensive in e-commerce thanany retail shop.Damage products, dissatisfaction- Sometimes delivery of damaged products loses the entirecustomer-business relationship.

Products Shopping share

Fashion wear/Clothing 42%Footwear 25%Mobile & electronics 18%Personal care 10%Home & furniture 5%


Delay delivery- In India still now e-commerce delivers products late.

Market development strategies-

Marketing strategies, economic sector-wise.A futuristic marketing strategy is based on the current scenario of the market and continuous market analysis reports, a market research of competitor companies can give clear ideas, which is necessary for long-term marketing development. Marketing strategy development is not a fixed input, its variable, depending on the time, economic structure, and the product/services.If we do a deep inquiry of the Indian market economy, we will get to know about the nature of each market economy segment-wise. As India is a country of a mixed economy where culture is a big deal and each segment's culture always finds different wants from another, so marketer should have a deep inquiry about all these segments cultures, wants, etc. To attain higher prosperity in e-commerce sectors also can expand their business accordingly. While most e-commerce sectors are looking for only B2C business, but here they can do the B2B business also through e-commerce, through few affords. Let us see the Indian economy's diversity and plan accordingly.

Primary sector- The economic activities under the natural resources of the country. India is anagriculture-dependent country. Agricultural activity is everywhere across the country but agriculture is especially village-based and literacy rate and overall development in villages are very less, so internet penetration rate and national exposer also low over there. E-commerce Companies can utilize this benefit in the Indian primary economic sector, through target marketing. A simple application of campaign marketing and cause marketing can get the market. Campaign marketing, a company can make a small campaign in villages with agricultural essential products such as pesticides, variety of seeds, spray machine and so many. Where customers no need to go online to purchase, they can directly purchase from that camp. Because to do marketing over the village is very different from metropolitan cities, because factors effecting in marketing is very less. Through this campaign, the company can get both sides

Primary Sector

Secondary Sector

Tertiary Sector

Quaternary Sector

Quinary Sector


benefits one is advertising in rural areas and getting expand in business. Therefore, through both side marketing strategies (Campaign + Cause marketing) company can do their business in primary economic sectors, in not only agricultural, mining, and other primary sectors also.

Secondary sector- This economic sector covers some industrial areas. In this sector, a companycan implement B2B business. Manufacturing companies use a lot of things & materials. So the company can make a deal with the manufacturing business to supply some essentials without raw materials and heavy machinery. Because in a manufacturing unit without raw material and machinery some other things also essential for production, so e-commerce can supply those essential through their delivery unit. Here e-commerce Companies can get a huge business at a time to increase their revenues. To do this kind of marketing they do not need to hire a celebrity for endorsement and no need to spend a lot of money to advertise, just communication through B2B business can make this possible.Tertiary sector- This sector spreads long because it includes the education sector, health caresector, banking sector, communication sector. As an example of this marketing- e-commerce companies like First cry (who offers baby care products only) just need to target hospitals where they can get a huge market daily basis, through the campaign or some deal with that particular hospital. Another example can sell banking essentials such as a bank or a corporate office needs some essentials monthly basis (Register, Pen, Computer accessories, etc.). An E-commerce Company can directly supply all essentials to this kind of organization regularly. This marketing can increase their monthly revenue.

Quaternary sector- This economic sector covers knowledge-related fields such as research andinnovation, education, etc. Therefore, this sector can be an opportunity for online education setups like (BYJUs, UpGrad, Edex). They can make direct tie-ups with education institutions for online certification and training courses. It is also a marketing process that covers both marketing aspects- Cause marketing and advertising of the company.

Quinary sector- This sector includes the government decision-making segment. E-commerce candirectly reach the whole country as its target audience. E-commerce companies can approach offline retail stores for scarce resources to the country. The whole procedure will be the same with a few changes. Through link manufacturers (farmer- rice mills- stock marketers) can deliver those essential like rice, wheat, salt, oil which government provides through offline retails. This thing might help them to get the total market.

Marketing strategies for brand awareness

YOLO concept- You Only Live Once concept can be applicable for youngsters’ motivation.Especially for e-entertainment companies, this concept is like a boom to get more subscriptions of their channel such as Amazon Prime, Hotstar, Gaana, etc. Here this concept can be applied for brand awareness by them remember through advertisement and promotion with YOLO concept.Disruptive marketing- Product/service habits, which change the entire industry. As an example-Reliance Jio network, their free data with good network condition has changed the entire industry. Because of their marketing strategy now, there is huge competition in the telecom industry in India, which is the biggest step of the digital India journey.


Example 1- Company like the First cry- This company provides baby care products. If the company can promote any single product line continually or a set kit in hospitals at a very low price or free of cost for a certain period. Then, this marketing strategy can have a significant brand awareness to its customer and profit gaining also.Example 2- Company like Flipkart, Amazon, Myntra, Nykaa, etc. - If we start with an example of Colgate toothpaste, then the idea will be clear to us. The company has promoted their product, which has changed the actual name of the product that is toothpaste by the name of Colgate. So if these e-commerce companies can introduce such a product line that can replace the actual name of the products with the brand name, through which the company can have a good brand value and awareness to its customers. Because the only mantra to gain the consumer behavior that is-Customer to the company- This is what we want; could you please make it, instead ofCompany to customer- this is what we have made could you please buy it.

Marketing strategies for business-customer relationships

While we are talking about Indian consumer behavior towards e-commerce, so the company has to be very careful on the relationship between them and its customer, through post-purchase satisfying behavior. Because there is no physical interaction during shopping online which is a significant disadvantage for the Indian market, but the company can work on this by following some marketing strategies, such as-

Communal marketing strategy- Company hires celebrities for advertisement and brandawareness with a huge cost, but whether a company can utilize their customer for advertising and promotion by uploading their stories and get them in advertising and the promotion campaign. It has both side positive impact one is a cost-saving and good relationship with a customer to generate loyal customer and repeat business.Guerrilla marketing strategy- This is an old technique of marketing, which marketers wereknown for from Jay Conrad’s book, 1984. This is a process for making a good customer relationship through make customers surprise. The company can do this same by little afford, can send small gifts on birthday or anniversary just to let them feel good about the brand which is again a loyal customer program.Defensive marketing- Whether it is about brand awareness, protect the brand from this hugelycompetitive market is very essential to marketers. A continue market analysis of competitor and about their customer satisfaction and how to improve own strategies is important. Act as per competitors customer behavior and get them as own customer will help to protect the brand from the competition. It is possible by implementing some different programs such as fast delivery system, fast refund system, post-purchase interaction with the customer by a phone call, or can launch Artificial Intelligence program for shopping guiding as per customer preferences.AI in e-commerce- Nowadays companies are using AI technologies for the delivery of theproduct but if we see the Indian consumer behavior broadly, during offline shopping shopkeepers and retailers always guide its customer during their shopping. Such as this product will suits you better, this might not, this new color is cool on you and have this with this product to get a perfect match this kind of comments of shopkeepers during offline shopping make a good customer relationship. (As Lenskart do to match the product with particular cutomer). This can be implemented in online shopping by using an Artificial Intelligence system in their websites or application.


ConclusionConsumer behavior, mixed economy culture, and digital India are the key points considerable for Indian e-commerce industry market analysis. Online business is trendy and beneficial however, the Indian consumer market was not much aware of e-commerce and other online sectors. But this Covid-19 pandemic and digital India journey have made these changes to the Indian consumer, especially digital education system and government initiatives have a significant impact in online businesses. It has proved that digital education platform is beneficial for all working professionals and college universities students. Its cost-friendly, time-saving, and easily accessible whether it is shopping from e-commerce or learning through a digital education platform. Increasing the internet penetration rate and infrastructure of digital India is an opportunity for e-commerce retail, digital education platform, and other online businesses. This growth has created a lot of employment and growth op the IT sectors in India. Leading companies like Flipkart, Amazon, Myntra, Zomato, Byju, Unacademy are continuously contributing towards the country’s Gross Domestic Product (GDP), which is expected more grow by 2027, as per analysis and market forecasting.

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