Indian e-commerce sites are becoming the major platforms for ensuring the business growth of the small and medium enterprises (SMEs).
The size of India’s customer-to-customer (C2C) market is around $5 billion annually. E-commerce platforms are assisting small merchants to sell from their own online websites or by allowing them the facility to sell through other bigger platforms like Amazon and eBay.
“With the introduction of Digital India, current scenario of C2C business in India is quite promising. C2C e-commerce is booming,” Priyank Varshney, founder of online handicraft’s store Handikart.
Handikart, as an online e-commerce platform, procures handcrafted items and products from artisans with instant payment and trades those items online on the website and through online portals like Amazon or eBay.
According to research and consultancy firm Zinnov, the C2C e-commerce market in India is currently pegged at around $9 billion and expected to record a compounded annual growth rate of 60-70 percent by 2022.
India has around 51 million SMEs.
“The Indian SME market is hungry and ambitious to embrace digital but is waiting for someone to take the lead and show the way. While everybody wants to take their business online, they still need a lot of handholding to address their latent barriers,” said Anurag Avula, chief executive officer and co-founder of international e-commerce company Shopmatic.
Shopmatic helps owners by developing a unique web store to list businesses on marketplaces and social media channels, also giving insights on how to sell online.
E-commerce platform Kraftly’s “MySite” assists small-scale sellers to design and integrate a free website to run their own website and increase visibility and discoverability for their brand.
“Sellers might be able to market their products very well on the social media, but when it comes to getting orders, Kraftly has expertise in optimizing digital marketing spend,” said Akshay Ghulati, chief business officer of Kraftly.