Understanding the diverse demographics of India, Myntra caters to consumers between the ages of 22 and 34, with a balanced distribution of men and women. While it remains accessible to metro and Tier I cities, Myntra is actively bridging the gap to reach Tier II and III cities, where 45 percent of its consumers reside. The adoption of AR and VR in kids’ content is evident in the array of educational AR apps and VR experiences tailored for young audiences. These technologies not only add an immersive layer to entertainment but also provide educational value, blending learning seamlessly with play. Shroff’s observation aligns with the industry’s response to the digital-native generation.
Figures culled from 2014 show a steady progression of online purchasing globally — and the projections look healthy in the years ahead. In today’s online market, where competition is fiercer than ever, the loading speed of your OXID online shop is crucial. An appealing and clear product presentation is a decisive factor for the success of an online shop. Online shopping has become an integral part of everyday life for many people today. More and more people are informing themselves online about products and…
The goods are then shipped to the buyer, or the buyer is able to pick their order up from a designated place. Businesses can gain from the increasing competitiveness in the global market as a result of their ability to contact clients throughout the world. More competition leads to cheaper costs, better customer service, and higher-quality goods—things that haven’t always been true in marketplaces with a smaller number of competitors. Finally, laws like the GDPR will continue to be crucial to the development of online shopping and to ensure that customers are safe doing so. The term does not only include buying things online but also searching for them online. In other words, I may have been engaged in online shopping but did not buy anything. When it comes to sites that heavily utilize online sites to carry out shopping activities, China takes first place.
With targeted research, you can uncover unfulfilled consumer demands even within popular product categories. Small business owners can strategically price and promote products in each channel to leverage consumer preferences. Consumers tend to buy familiar items online; they understand what they’ll be getting and can usually predict how the purchase will turn out. They may be unsure if they’ll need to return it, so they’ll forgo the convenience of an online purchase. Ask any online store owner and they’ll tell you what a nightmare abandoned carts are.
Product delivery
Understanding the significance of phygital requires tracing the evolution of shopping. Traditionally, shopping meant physically visiting a store mostly in groups either, either with families, or friends, exploring products, and making a purchase. However, the emergence of e-commerce has transformed this process, allowing customers to shop individually from home and receive deliveries. While e-commerce offers convenience and variety, it lacks the physical and social aspects of traditional shopping. Phygital retail addresses this gap by merging online and offline experiences, providing a seamless customer journey.
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The festive period is expected to enable sellers especially the smaller ones to come out of the challenging sales environment seen through this and sellers are optimistic about strong sales growth. Accordingly, they are willing to significantly ramp up their advertising spending on the e-commerce platforms during this festive period. Despite a challenging start to the year in CY23, online sellers are gearing up for a festive season comeback. They anticipate a substantial year-on-year sales boost of at least 15 percent during the upcoming festive period. The median projection stands at an impressive 26 percent growth compared to last year’s festive season. Sellers spanning various product categories, including those with lower average selling prices like fashion, are displaying a bullish outlook on this growth trajectory.
While return policies can vary by retailer, most online stores allow customers to return products within a specified period, provided they are in original and resellable condition. Some stores offer free returns, while others might deduct shipping or restocking fees. It’s crucial for customers to read and understand the return policy of an e-commerce platform before making a purchase. Roland Bust, a marketing professor at Vanderbilt University, explained to the Atlanta Journal and Constitution that most consumers “don’t know where to go” when they attempted to shop online in 1994. “Like a real mall, a cyberspace mall has lots of stores, and finding a particular product can be hard unless a user knows which stores carry what,” the story summed up. Interestingly, the article also pointed to CD-ROMs as another online shopping option at the time. Read more about Discount Shit here. They sold for $8 and up, and when inserted into a computer, the consumer could access the contents of a couple dozen catalogues, from merchants like Spiegel and L.L.
The brand is also creating a seamless mobile-native experience, catering to the internet-rich mobile customer base of India. Sustainable packaging materials are lightweight and occupy less space, leading to efficient storage and transportation.
