Let's start with a flashback! 1990: Our need for assistance was satiated by professionals called Assistants. Any queries, problems, issues pertaining to myriad topics were addressed by the above mentioned army of assistants. Ladled with books upon books of knowledge pertaining to the subject of their concern, the assistants were the saviours of the confused, agitated, in-need-of-help consumers.
“To drive a car across India, you do not need state wise driving licenses; then why are separate licenses (registrations) required for doing business in different states?” The above question has been the crux of many a discussions, for many years in Indian business circles. From large scale logistics companies to everyday retail businesses, the need for a unified tax solution has been the universal plea. After decades of business, after moving beyond the license raj and accepting the free economy concept, the solution has come with the introduction of GST – Goods and Service Tax – One Nation One Tax.
Imagine this: You've gone out to buy groceries. You have your list ready, carry bags in hand and are determined to purchase all that is on the list. You enter the store and see that the shelves are filled from top to bottom with products. This gives you the confidence you need to shop and you get started. BUT, as you pull out one product after another, you realise that none of these has the product label and prices mentioned!
Now, don't let this statement shock you. The reality isn't as dramatic, however the warning bells for the future are definitely ringing out loud. Let's rewind a bit to understand what prompted me (and the industry at large) to question the longevity of the salesman.
No matter which business field you step into, you cannot escape technology! Brick and mortar companies are digitally transforming themselves to stay in the game. E-commerce companies are constantly looking for new techniques to better themselves. Traditional leaders, who although were a little sceptical about the same, have come around and accepted the importance and relevance of technology pretty well.
"Expect the best. Prepare for the worst. Capitalize on what comes." - Zig Ziglar The market is a strange place and profit is what matters at the end of the day. How you manage to work out your company’s financials and get more work done in minimal expenditure is a work of art which each one of us in today’s market needs to master!
'In the age of data, knowledge attracts the customer.' Flashback to a few years ago, and we had people ridiculing the concept of online trade. Then B2C e-commerce flourished and naturally, the naysayers were shushed into silence; eventually, the way for an open market for B2B Online Trade was paved.
A new trend is being observed in the behaviour pattern of the B2B business; Trade of Industrial and Electrical supplies on a B2B e-commerce website is now becoming a hassle-free process and there is a gradual increase in the supply and demand of MRO (Maintenance, Repair, and Operations) products online.
B2C e-commerce started blooming in India in 2007. This was the year when the market picked up pace, people started warming up to the idea of shopping online and a burst of start-ups emerged on the scene.