ECOMMERCE PRESENTATION BY:- GARVIT CHOPRA KUNAL JERATH ➢ Improved User Experience:Visitors to the website would look forward to an exceptional user experience. They would prefer optimal workflows that would help them in the buying process. The industry has been focusing on UX design, merchandising, customer servicing, logistics, etc. and have been ably aided through next-generation technologies. ➢ Increased Use of Digital Payments:The future of ecommerce industry lies in the growth of mobile commerce. According to studies, 73% of ecommerce sales globally will happen on a mobile device. Online payments are seeing massive growth in India that enhances the future of the ecommerce business in India. ➢ Growth of Multiple Sectors:- The e-commerce industry is seeing multi-pronged growth. While the industry has been dominated by apparel, electronics goods, books, etc., other sectors like groceries, FMCG and food delivery also expect tremendous growth. ➢ Artificial intelligence:- Before making a purchase, customers often have certain queries and qualms. Therefore, ecommerce businesses and websites have already started offering 24*7 live chat support that provides instant solutions. Chat support has become a necessity for websites. But, AI-powered chat bots will be even smarter. The real-time engagement will help in generating more revenue and brand reputation. ➢Innovation:Innovation is the key to revolutionizing ecommerce in India. It will help ecommerce companies to increase their outreach. This is one of the major goals that all ecommerce companies must strive for. ➢Foreign Investment:Foreign investment will be a powerful factor in the upcoming years. They have proved to be the biggest challenge for Indian companies, who need to intensify their efforts several notches higher. ➢ Voice enabled orders:In future ecommerce companies may start accepting voice enabled orders as it will attract more customers. Voice enabled orders reduce possibility of errors and customers may feel satisfied with voice order. ➢A strong business model:Around 22.55% of the world population is buying online, which means over 1.5 billion people. By implementing e-commerce into your business model, you can create a strong stream of revenue. You will be able to interpret and utilize data more effectively Impact of COVID Pandemic on Ecommerce A suddenly started Covid-19 pandemic led to massive disruptions in e-commerce. Companies had to quickly adapt to new conditions and reassess traditional models of leading business. While offline shopping became difficult due to pandemic restrictions and health measures, online shopping experienced a significant increase during Covid. Pandemic Impact to Consumer Behavior:As various pandemic-related business restrictions that prevented in-person activities crept across the world’s regions, business turned to the pandemicproof ecommerce sales channels for basic survival. Online, global consumers could not stop purchasing through their favorite websites (44% of global digital purchases) and online marketplaces (47% of global digital purchases). Cross-Border ecommerce Continues to Grow:The data tells us that COVID pandemic-related business restrictions have forced a global business paradigm shift towards the digital economy, which has negatively impacted traditional business models. Impact to Global Small B2B:The pandemic has impacted business countries differently creating opportunities for one where business was lost completely.