A joint study on the E-commerce market in India by ASSOCHAM and Forrester estimated that E-commerce revenue in the country is projected to grow from USD 30 billion in 2016 to USD 120 billion in 2020.
Leverage the intent
Needless to say, much of this growth is driven by smartphones which are the first devices that shoppers turn to for their online shopping needs. 51% of smartphone users use their devices for searching product information online, which according to the Google consumer barometer study, is one of the most popular activities on smartphones.
E-commerce players can capitalize on this intent with techniques such as deep linking that take consumers directly to the exact page in the app for the products they were looking for and retargeting for those who abandoned their journey from discovery to purchase.
Promotions and discounts are still a rage
We often see large E-commerce players banking on the holiday season or festival season, running discount days and promotions on various products. It turns out that these things are a big hit among consumers. In fact, one in every three online shoppers buys online because of promotions and discounts.
Here's an opportunity for E-commerce companies to convert the intent to a purchase offering discounts to consumers who abandoned their purchase journey half way. They can use mobile marketing platforms that help them leverage their in-house data to retarget these consumers at the discovery stage with data-driven discounts on products.
Keep it fresh
Another interesting trend that is being observed among online shoppers in India is that when it comes to fashion and lifestyle, 30% of the consumers purchased a product from a website that they found new and interesting. A lot of them are turning to upcoming E-commerce brands with a mobile app and site presence, expecting variety, freshness and reasonable pricing.
To engage such an audience, E-commerce companies need to make use of engaging rich media and video ad formats that grab their attention and engage these consumers at the discovery stage itself.
And so, we are at a point in time today, where more consumers are shopping online and the overload of information can easily distract them during the product discovery stage. The intent is stronger than before, but using mobile marketing the right way can help E-commerce companies harness this intent and see it convert to a purchase.