Vishal Dalor

14717702018 – E Commerce Bca VC

Q1. E-commerce can be really helpful in enhancing business and customer satisfaction.
Explain by taking example of :

 1) Banking Sector
 2) Manufacturing Sector
 3) Retail sector

Ans.

A PIM software system (Product Information Management) is the basis of any current
e-commerce to send product data to all the channels and distributors that you want at
the same time and without errors. A solid omnichannel strategy is the gateway to the
benefits of customer satisfaction and quality service. Instead of adhering to the
traditional reactive customer service model – waiting for customers to contact them –
online retailers have taken a more proactive approach, engaging customers on a variety
of channels.
In recent years, online businesses have become increasingly popular as an alternative
investment class for investors.
Examples….
1)Banking Sector

E-commerce led to the rise of electronic banking in a big way. ... This led to
many banks providing the same services – checking, savings, loans, credit cards, and
bill pay – without having physical locations. Banks like Ally are leaders in the online-
only banking revolution.

THE IMPORTANCE OF THE BANKING SYSTEM. The banking sector was always
deemed to be one of the most vital sectors for the economy to be able to function. Its
importance as the “lifeblood” of economic activity, in collecting deposits and providing
credits to states and people, households and businesses is undisputable.
2) Manufacturing Sector

An effective application of e commerce in manufacturing will enable your organization

to grow and scale easily to meet market demand and customer needs by opening new
sales channels and continuously reaching new market segments. Improved efficiencies.
E-commerce is a way for manufacturers to experiment with new products without risking a
significant investment. Instead of setting up brick-and-mortar stores, or keeping inventory on
hand, you can start offering this new product on your new store
3) Retail Sector

India’s retail market is estimated to reach $1.75 tn by 2026, from $0.79 tn in 2018,

growing at a CAGR of 9-11%, driven by socio-demographic and economic factors such
as urbanisation, income growth and rise in nuclear families. On the other hand, the
Indian e-commerce industry is expected to cross $200 bn mark by 2026.
The E-commerce market in India is also set to grow at a CAGR of 30% for gross
merchandise value to reach $200 bn by 2026, and have a market penetration of 12%
compared to 2% currently.
India is largely an unorganized retail market, contributing 88% to the total retail sector in
India. The organized retail market is currently valued at $60 bn, while the unorganized
market holds the rest. The share of the organized retail market is projected to increase to
22-25% by 2021, thereby reducing the unorganized retail market’s share to 77%. The
organized retail market, therefore, has the potential to reach approximately $140-160 bn.