Online sales made on mobile devices will exceed $638 billion within three years according to a joint report released by Deloitte and Assocham.
The Secretary general for Assocham D.S. Rawat said continuing development of e-commerce mobile apps was driving more mobile device sales with online retailers like Jabong and Amazon getting 50 percent of their sales revenue via mobile phone purchases.
Rawat said the study also warned on-line retailers that they had to continually beef up both their online security and “customer experience” offerings if they wanted to retain customer loyalty.
“Online commerce companies should enable all features from search-to-purchase on mobile apps, such as facilitating product research, price comparison, view ratings and reviews, and payment,” said Rawat.
The report based on the “Global Powers of Retailing 2015” study said the companies that presented an overall and whole online marketplace experience would do better than those that just relied on inventory, especially in Asia.
“The high costs of holding inventory, poor logistics and supply chain challenges in India are shifting the inventory-led companies and new entrants to adopt a marketplace model,” said the report.
The report suggested the development of “wearables” like the Apple Watch and Google Glasses, presented new opportunities to reach consumers.