Synopsis: The success of e-commerce companies has previously shown how important it is for organisations to have a digital presence, the transition of which is accelerated by the COVID-19 pandemic. As per predictions by Technopak advisors, the retail industry in India will be worth roughly 1.5 trillion dollars. Tech startups are playing a significant role in this.
Key highlights:
● By 2030, the national association of software and services firms and Technopak advisors predict that India's retail industry will be worth roughly 1.5 trillion dollars.
● eWards has witnessed an average of 15% boost in revenue for the clients who used their services.
The success of the e-commerce enterprises had already demonstrated the necessity of a digital presence for organisations. This transition has been sped up by the COVID-19 pandemic. By 2030, the national association of software and services firms and Technopak advisors predict that India's retail industry will be worth roughly 1.5 trillion dollars.
Startups are playing a significant role in helping small retailers compete against online businesses, whether it be by organising their business processes or assisting them in engaging customers in the the same way that larger e-commerce players do.
According to the founder of eWards, Abhishek Mimani stated, "At eWards, we work with thousands of small businesses, assisting them with technical solutions to centralise all their transactional and customer data. We provide them with a tool to analyse as well as engage their customers using our platform. This gives them a chance to compete with the marketing strategies being implemented by the large format online retailers. We have witnessed an average of 15% boost in revenue for the clients who use our system."
Marketing is becoming more complex as a result of the introduction of online communication channels. SaaS startups like eWards offer a platform for small and medium-sized businesses to optimise their marketing strategies using a complete line of technological products and digital marketing solutions. "As a one-stop-shop, we have observed how small businesses can implement their ideas and execute them without having to spend significant amounts of their time coordinating with different players," Mr. Mimani adds.
Most mid-sized and small-scale firms struggle to find suitable resources at a reasonable price. Today's SaaS-based businesses are supplying them with solutions to optimise their work at extremely affordable rates in this situation. Going forward, the future seems promising for entrepreneurs who are striving to provide tech-based solutions to small and medium-sized businesses due to the declining cost of mobile phones and the extremely affordable data charges. The use of these technologies has been accelerated by the COVID-19 pandemic, helping to level the playing field for small and medium-sized firms.
