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How have Digital India and Swachh Bharat contributed to the Re-commerce industry?

The initiatives taken by the government of India is a commendable start for the growth and development of our country. Among the many initiatives there are two which stand out- Digital India and Swachh Bharat. Digital India- Giving the Power to Empower has proved to be beneficial with the onset of its various programs. The outcome of this initiative is very much helpful and has resulted in better connectivity, e-governance and delivery services, e-commerce and e-business and education. The Prime Minister launched various initiatives like Digital Locker, National Scholarship Portal, eHospital, eSignature, MyGov Mobile App, Swachh Bharat Mission App, Wi-Fi Hotspots, Next Generation Network among other apps.

“Update: ZeroWaste is now InstaCash”

Digital India– Giving the Power to Empower has proved to be beneficial with the onset of its various programs. The outcome of this initiative is very much helpful and has resulted in better connectivity, e-governance and delivery services, e-commerce and e-business and education. The Prime Minister launched various initiatives like Digital Locker, National Scholarship Portal, eHospital, eSignature, MyGov Mobile App, Swachh Bharat Mission App, Wi-Fi Hotspots, Next Generation Network among other apps, products and services.

Implementation of these schemes will provide Broadband connections in 2 lakh villages, 400,000 Public Internet Access Points, Wi-Fi in universities; Public Wi-Fi hotspots for the citizens will increase the traffic on the internet more than ever. This surely will boost the e-commerce industry. The main part of online transactions as of now emerges from tier two and tier three urban communities. With the Digital India venture on its go, the government will deliver services via mobile connectivity and in doing so, is expected to convey the internet and broadband to remote corners of the nation, hence, giving the hidden network for e-commerce. This will advance the growth and reach of the e-commerce market into India’s 4 tier rural areas and towns.

How will this help the re-commerce industry? With the increase in connectivity individuals around the country will purchase more new electronics and replace older ones. And with re-commerce companies at their doorstep, they’ll have an outlet to get rid of the old electronics. It will boost the re-commerce sector more than ever.

The second initiative Swachh Bharat has also proven to be successful in the drive to make our country Clean India. The Clean India or Swachh Bharat Campaign aims to accomplish various objectives that include reducing the carbon emission, cleaning schools, colonies and other public places, improving sanitation, etc. Through this campaign the Indian government would tackle the sanitation issues by improving waste management strategies. Clean India development is totally connected with the economic strength of the nation. The completion of this mission would in a roundabout way draw the attention of business investors in India, draw tourists attention from everywhere throughout the world, improve the GDP growth, bring

Clean India development is totally connected with the economic strength of the nation. The completion of this mission would in a roundabout way draw the attention of business investors in India, draw tourists attention from everywhere throughout the world, improve the GDP growth, bring variety of sources of jobs, diminish well being costs, reduce death rates and reduce deadly sickness rate and some more. One of the major initiatives of this campaign was to get rid of unwanted waste and keep the surroundings clean. Unwanted waste also includes unused and old electronics or e-waste which needs to be disposed properly.

This campaign has surely supported the re-commerce industry by encouraging the citizens of the country and creating awareness about disposal of e-waste responsibly. This is where re-commerce companies come in. They provide an easy and feasible alternative to dispose e-waste. These companies take it to the next level by paying a good amount to the customers for their old electronics. Considering the positive trend of re-commerce in India, there has been hike in the organized re-commerce of items and with the Swachh Bharat initiative it has boosted all the more.

Note: This post was originally published in February 2016 and has been completely revamped and updated for accuracy and comprehensiveness.

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Top 5 significant consumer behaviour patterns in smartphone market in India

Smartphone- Everyone’s lifeline

Phone and computer mashup brought to life a magical device called Smartphone. Bring together a phone and Internet and what you get is a large screen phone which can be used for doing anything. The first Smartphone was invented in the year 1992 and it was called IBM Simon. With the invention of iPhone in the year 2007, Smartphone became a mass consumption product.

“Update: ZeroWaste is now InstaCash”

When we talk about Smartphones in India, which is one of the fastest growing economies in the world, it is currently the 2nd largest mobile handset market in the world. One of the reasons being there is a continuous increase in disposable income which has resulted in radical shift in the consumer behavior. Mobile phones have become essential parts of personal and business life. The mature Indian mobile consumers are increasing their preference for high-end handsets and young demographics desire to use mobile web technologies that could see the Smartphone markets soar. With the shelf life of a cell phone being only 24 months for an average consumer, the flow of old phones into the re-commerce industry has increased.

Listed below are the significant consumer behavior patterns that affect the sale and buying of Smartphones in India:

1. I want the best phone

We want to have the latest phone in the market even though it may be expensive. The day iPhone6 was set to launch many had already decided to purchase it. It didn’t matter if their present phone was just 4–5 months old.

Another example is One Plus, a Chinese Smartphone. It has some brilliant features like blasting fast performance and good screen. It stirred the market with an awesome marketing strategy. In advance of the OnePlus 2 launch, One Plus assured customers that obtaining invites would make it easier and handsets would ship a lot quicker than the OnePlus One. This unique process accumulated many buyers. The reason being the customers could buy a Smartphone which was not being sold in the market. The I-have-that-phone-but-you-don’t ideology worked.

2. Brand matters!

We all know it and we all do it. When it comes to possessing a phone, a Smartphone is necessary. Not just any Smartphone but the best and more expensive one than the other person. Today there are over 140 million Smartphone users in urban India. Before, having a phone was a luxury. Now what matters more is the brand of the mobile phone. No one asks- Do you have a phone? The question asked today is- Which Smartphone do you have? The new brands which don’t make much impact on the market are considered “less good”.

3. I want my PC in my Phone

We want everything on our fingertips and a Smartphone aptly does that. It combines not just a PC but also a camera, radio and mp3 player into one device. From internet facilities and gaming to calendar and notepad, it caters the infinite needs of every individual. This has brought down the sale of PCs.

There was a time when we had to wait till we reached home to upload photos on Facebook. But now it’s different. You take a picture and upload it on Facebook from your Smartphone. By the time you reach home, all your friends know about it and a detailed analysis is already done.

4. Smartphones make life easier

Beyond voice, three main trends shaping the so-called mobile culture: communication services such as voice, text and pictures; wireless internet services such as browsing, corporate access and e-mail, and different media services such as motion pictures, games and music. Consumers value Smartphone features that enhance their personal time planning. These high-rated features include calendar and e-mail services. It can also be used for transferring funds, booking a cab, reading a book, etc. which was impossible to do some years back. There are millions of apps and more are being created to make the consumer’s life easier than ever.

Another reason why Smartphones make life easier, each consumer looks for different features while buying a smart phone. Like, some want a phone with good camera, for gaming or video watching, etc. Smartphone companies cater to those needs by bringing out phones that are built to serve a specific purpose.

5. Need to stay connected

Connectivity is a necessity, not just food or shelter. In the present generation friends are essential for survival. Every event and emotion has to be shared with another person unlike before when we celebrated birthday only with the people next to us. With internet services just a touch away, it has become easy for consumers to stay connected with the world around them, be it news, entertainment or messaging services.

Smartphones have become the lifeline of every individual. With more innovations to come, it sure is going to boost the Smartphones market in India. India is set to become an even larger market with the growth of Smartphones to over 650 million in the next 4 years. With this growth the re-commerce market will be boosted.

Note: This post was originally published in January 2016 and has been completely revamped and updated for accuracy and comprehensiveness.

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How today’s digital and tech savvy global youth affecting the Re-commerce Industry?

The more logical and realistic generation- the Millennial, are the talk of the town in the marketing and re-commerce industry. They have grown up in a time of rapid change, giving them a set of priorities and expectations sharply different from other generations. How can one satisfy the needs of the Millennials? To answer this question, the marketing industry has come up with youth marketing. Youth marketing describes activities to communicate to their target audience ranging from 13 to 35 years age group. 
 
According to the United Nations, the Millennial generation accounts to 700 million in India, with its rising population to become the most populous country till 2022. It is also one of the largest Millennial population in the world. They’re the best-educated generation in independent India and most likely to drive the country to long-term prosperity.
Here are some characteristic differences of the Millennials which are the driving factors for today’s market.

“Update: ZeroWaste is now InstaCash”

1. Digital World

The Millennials have grown up with internet and smartphones around them resulting in the use of screens more than ever. From playing video games to watching TV online, Gen Y uses the digital world to literally live their lives. Social media is extensively used to communicate and to make their views known to the world. Shopping has also taken to the online platform. The Millennials shop the most online accounting to 61% as compared to other age groups. With the rise in the re-commerce industry now the Millennials not just buy but also sell stuff online.

2. Best in everything

The Millennials want the best of technology in their hands. They want to have the latest phone in the market and if there’s another phone launched which is better and cooler than theirs, they want that. They move with trends. This generation doesn’t think too much about spending money. They spend 82% of their income. With the flow of more and more new goods into their homes, the raw material for re-commerce industry keeps increasing. The Millennials, therefore, is becoming a good supplier of old goods for the re-commerce industry.
 
3. There are exceptions

Even though they like to spend on gadgets and other improving technologies, when it comes to accommodation options they prefer renting a house to buying one. Statistics show, 29.9% of Millennials in 2010 lived with their parents as compared to 26.7% in 2001. But they plan to buy a house sometime in future. The importance of luxury has also minimized with the Millennials. They don’t always look out for expensive goods but they are satisfied even with second hand goods if it matches their quality standards. This provides a good market for re-commerce industry.

4. Authenticity over content

It’s important for the Millennials to gain trust on a company or brand before they decide to purchase anything. With everything online, the first thing they do is check for reviews. The best places where they find reviews are blogs. 33% of the Millennials rely on blogs before they make a purchase. Once they gain trust, they are loyal customers. 60% of the Millennials are often or always loyal to brands that they currently purchase. The sooner the brand builds a relationship and a deeper connection with the Millennials, the better because they will continue to purchase from there as an adult. Also, the second hand products of known brands remain to have a good number of customers too.

The Millennials have proved to be the smart generation. Their ideas and lifestyle is sure to change the marketing industry. Also, the re-commerce industry is only to benefit from this generation. With the increase in old goods flowing into the re-commerce industry and buying second hand goods, the Millennials are bringing a change in the static society of the Gen X.

Note: This post was originally published in December 2015 and has been completely revamped and updated for accuracy and comprehensiveness.

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