Investments In Enabling Ecosystems Intensified: Ashish Kashyap, INDmoney
Ashish Kashyap is among those digital mavericks who actively played a role in shaping and growing the digital landscape in India. Whether it was Google, ibibo Group or his recent ventures including INDmoney, Kashyap’s keen sense of forward-looking trends were evident in each of his roles. In this standpoint, Kashyap, Founder, INDmoney, shares his thoughts on the Indian ecommerce sector and some advice for the stakeholders
On Online Shopping Behaviour
Online shopping was quite skewed towards mobiles and electronic gadgets. The same has shifted to a more broad-based category after the pandemic such as groceries, household equipment, gardening, sports, fitness. The shift in behaviour to buy your day-to-day need, food products, fresh produce is now an irreversible change. In the affluent segment on INDmoney, we see ecommerce as the largest spend segment.
On How Consumer Shift Impacts Investments
The intensity of investments has already increased in enabling SME’s (small & medium sized enterprises) and also creating a strong ecosystem around them. This is also accelerating the adoption by hyperlocal retailers and merchants. Investments in the enabling ecosystem comprising finance, logistics, customer relationship management, point of purchase, payments etc. have further intensified.
On Onboarding Existing Ecommerce Platforms Or Creating One’s Own
I think every brand needs to have their own presence as well as invest in their omnichannel presence. Increasing access and reach is the most critical aspect for all brands. On the headroom for growth… I absolutely agree that it is still day one for ecommerce in India. We still have another 400 million Indians to shop online. In the travel and food-tech category, we have seen healthy penetration. However, in broad-based ecommerce, the headroom for growth is massive.
On What Lies Ahead For In Ecommerce In India
Ecommerce will reach 300 million Indians in the next 24 to 36 months. Also, hyper-local commerce and social commerce are the biggest trends in this space.
On Challenges Ahead & Advice
At present clarity in regulatory and taxation, GST to be specific is critical across the board. Companies need to build an active communication channel with the regulators. At the same time, local ‘made in India’ ecommerce companies and enablers of the ecommerce ecosystem need to have more development activities.
