How to prepare your enterprise ecommerce business in India for success in 2024 and beyond

Wondering what's the secret to success in 2024 for your enterprise ecommerce business?

Good quality products? Discounts like no other brand gives?

Well, you might have been right if this was 2018. Customers no longer choose an enterprise ecommerce brand just for its pricing.

The future of ecommerce is all about personalized shopping experiences, quick deliveries, and much more, going far beyond just price and discounts. 

Ecommerce is exploding, but your brand can rule only if you are aligned with the buyer's expectations, and blow away your buyers by offering over and above any competitor.

Wonder what it takes to prepare your enterprise business well for 2024?

Cheer up, for you are just in luck. 

StoreHippo brings 10 trends that will help you prep your enterprise ecommerce platform in India for success in 2024 and beyond. 

Let us start by viewing some insights into the Indian ecommerce industry for 2024 

• $350 billion is the estimated Indian ecommerce market size by 2030
• $ 200 billion is the estimated opportunity of India’s B2B online marketplace by 2030
• 400-450 million online buyers in India by 2027  
• $150 billion will be spent by online shoppers in India by 2025 
• 21% annual growth in mobile shopping projected over the next four years

Source: Business World, IBEF, Economic Times

Building an enterprise ecommerce platform in India is a clear pathway to your customer's heart, but is your business ready to cope with the upcoming trends of 2024? With the huge growth potential in the ecommerce industry, there is also an immense level of challenge to stay atop. However, in a country as vast and populous as India, it is not tough to drive growth and innovation, is it? Let's find out. 

How to plan success for your Indian ecommerce business in 2024

The realm of ecommerce is literally exploding with opportunities. It makes now the right time to explore the growth potential of the enterprise ecommerce market in India. 

Without any further ado, let’s get started with the recipe to success in 2024! 

Customization will be essential

Oh, customization is going to be a game-changer. With every customer looking for an experience that connects them with the brand, 2024 is going to scream customizations. From buying habits to payment solutions, and from discounts to local languages, your customers will look for a customized and personalized buying option at all levels. You are not ready to make a kill in 2024 till you are not equipped enough to offer a personalized shopping experience on the enterprise ecommerce platform in India.

Customize with StoreHippo: 

StoreHippo ecommerce solutions are built on the decoupled headless architecture that helps you tweak your platform inside out seamlessly. With StoreHippo you can: 

• Build flexible solutions and make changes as and when required without having to disrupt the entire flow
• Implement multi-level customizations in the shipping solutions, digital payments, content, pricing, etc. 
• Build customized storefronts or sub-stores for various locations, audiences, categories etc 

Customer experience will matter more 

As 2024 is approaching, the future of ecommerce in India is going to be a lot more about customer experience. You would be surprised to know that 86% of buyers are willing to pay more for a great customer experience. Well, it's a win-win for you both, right? A positive customer experience promotes loyalty, helps you retain customers, and encourages brand advocacy, while your customers can just enjoy the experience. 

Offer top-notch customer experience with StoreHippo:

StoreHippo helps you offer a smooth buying experience to customers on your enterprise ecommerce platform in India.

• Connect with your customers through automated tools and features like, SMS, push and email notifications
• Recover abandoned carts with follow up notifications that can also be personalized 
• Integrate with social media platforms to offer a seamless shopping experience to your customers 
• Integrate your online marketplace with your favourite customer servicing software or chat with your customers via live chat, chatbot, etc

Mobile commerce will rise 

Reports suggest that India will add around 410 million smartphone users by 2025 according to the current rate of growth. Not surprising at all. We all know the impact smartphones have on today’s generation and online shopping. Given that, the future of ecommerce is shining brighter than ever, thanks to the penetration of mobile phones even in tier II and tier III cities. To gear up your ecommerce brand for success in 2024 and beyond, you need to leverage the mobile sales channel for customer acquisition and retention. 

Build mobile solutions with StoreHippo:

StoreHippo solutions are built on a mobile-first technology that comes with an inbuilt mobile app builder to help brands take their business to mobile channels seamlessly. Here is what you can do with StoreHippo’s mobile ecommerce support on your enterprise ecommerce platform in India:

• Build Android or iOS mobile apps directly from your admin dashboard 
• Easy to build apps without any coding and at no additional costs
• Build PWA stores that look, feel, and work like mobile apps even on entry-level devices 
• Easy to collect customer-centric data and insights that help plan data-driven marketing strategies

Omnichannel will rule 

Well, there’s no doubt about that one. Omnichannel ecommerce has been the guiding force of driving revenue for quite some time. And it plans to continue doing so. With over 90% of the  customers looking for consistent omnichannel interactions, there’s no second-guessing that omnichannel strategies highly drive shopping behaviour. As you continue to target and engage your customers on all the channels loved by them, you set your enterprise ecommerce brand on an unprecedented growth strategy for 2024 and beyond.  

Go omnichannel with StoreHippo:

StoreHippo helps your business build a quick multi channel presence with its ready-to-use omnichannel ecommerce solutions. Here is what you can do with StoreHippo:

• Add new customer touchpoints quickly using the same backend logic and APIs
• Create consistent buyer experiences across multiple channels to boost engagement
• Centrally control all your sales channels and perform various tasks
• Improve operational efficiency across all channels and optimize costs
• Get better customer insights on multiple channels to leverage the most profitable channel of your enterprise ecommerce brand
• Get channel-specific insights to leverage data-driven strategies with top ecommerce platform, StoreHippo

Hybrid marketplaces will be the new norm

The modern ways of doing business require modern solutions. The market dynamics of the Indian ecommerce industry have shifted at large. To make a mark in the competitive landscape, enterprise ecommerce businesses are building new hybrid marketplaces that can disrupt the market. 

With 42.3% of brands opting B2B2C as their second main sales channel, it's time to take up new ventures like combining the goodness of two or more models. With hybrid marketplaces being the talk of the ecommerce world, you can create tailored solutions for multiple audience segments. 

Create hybrid solutions with StoreHippo:

StoreHippo is a fully hosted and managed ecommerce solution that is equipped with features to adapt to the fast-changing ecommerce landscape. With the battle-tested enterprise ecommerce solutions from StoreHippo, you can:

• Create disruptive hybrid business models with StoreHippo’s inherent flexibility and adaptability
• Pivot to the different business models or combine two models to create a hybrid solution 
• Build  B2B, B2C, D2C, B2B2C, Quick commerce and other models in record time

Leveraging AI tools will set your brand apart  

Artificial Intelligence (AI) has no doubt revolutionized the e-commerce industry for good, and the impact is only going to grow in 2024. With AI tools pervading almost every sphere of ecommerce, it’s just the right time to leverage AI tools and create an enterprise ecommerce platform in India that beats your competitors at their game. 

You can harness the power of AI to create personalized shopping experiences and target customers based on their buying preferences. Based on the past purchases or browsing history, you can implement recommendations and personalize the customer experience to build stronger relationships with your customers.

Integrate seamlessly with StoreHippo:  

The headless API technology from StoreHippo helps enterprise brands to seamlessly integrate with the tools of their choice. Here is how you can use integrations to leverage success in 2024:

• Integrate with the best in breed AI or other advanced solutions to give an edge to your business
• Manage your day-to-day business with hassle-free and quick integration of third party softwares like CRM, ERP, accounting, etc
• Integrate with multiple delivery partners, payment channels, chatbots, live chat etc

B2B self-service and automation will take charge 

The future of ecommerce is all about a smooth buying process, be it a B2C sale or a B2B purchase. Now we all know about the long processes of B2B sales and the multiple rounds of negotiations that happen in a B2B order. But did you know that 75% of buyers prefer digital self-service and remote human contact to in-person communication? Well, as the self-service feature hugely cuts down the dependency on sales-reps, buyers are not wrong in looking at self-service and automations. As you automate the order processes like shipping, order management, follow-up emails etc on your enterprise ecommerce platform in India, you reduce customer grievances and boost productivity. 

Automate your B2B business with StoreHippo:

To ace the ecommerce industry in India in 2024 and beyond, StoreHippo comes with a host of B2B features that help you streamline and automate the sales process on your B2B online marketplace. Here is a list of features that will help you drive sales and prepare for success in 2024 and beyond:

• RFQ, differential/multi pricing, customizable forms, tiered pricing, credit management, MOQ (Minimum Order Quantity), tax engine, etc. to help automate and introduce self-service 
• Automated chat support via chatbots, a customer admin panel to interact with customers on your enterprise ecommerce marketplace
• Features for real-time delivery tracking, easy cancellations and refunds etc. to help buyers stay informed about their orders

Q-commerce will grow 

Wondering what makes us say that q commerce will grow in the coming years? Well, 80% of customers prefer same-day delivery, and 63% demand delivery between 1-3 hours. With such delivery expectations by customers, enterprise ecommerce brands are turning every stone to offer their customers quick ecommerce deliveries. As you build an online store and offer hyperlocal deliveries to your everyday essential customers, you can redefine your ecommerce brand’s growth and retain your customers. 

Go hyperlocal with StoreHippo:

StoreHippo is the top ecommerce platform that comes with a host of tools to help you offer quick deliveries on your ecommerce site in India. Here is how you can offer quick commerce to your customers going forward with StoreHippo.

• 30+ pre-integrated shipping partners to ensure faster delivery on your enterprise ecommerce store
• Automate the fulfillment process with built-in order and shipping management to ensure faster and streamlined deliveries
• Built-in delivery boy solution to manage your own fleet of delivery boys for speeding up order fulfillment 

New payment methods will emerge 

The coming years in the Indian ecommerce industry will be about quick payments. From mobile payments to store credits to digital wallets, payment methods are going to be smarter and faster in 2024 and beyond. With the advancements in the digital world, you need to prepare your marketplace to offer a seamless payment process to your customers.

Implement seamless payment with StoreHippo:

You can offer multiple payment gateways to ensure a smooth payment process on your marketplace with StoreHippo. Here is how the StoreHippo enterprise ecommerce platform in India helps:

• 60+ pre-integrated payment gateways making the checkout process smooth and seamless
• Integrate with multiple payment options like COD, credit or debit cards, net banking, mobile wallets, etc
• Build store wallet to offer credits to ensure more repeat purchases

Customer support will be valued

Today and going forward, one thing that the customers love about their brands is if they are available for their customers. To excel in the ecommerce world, your customer support must be aligned with resources that help you make a place in your customer’s hearts. And wonder how? As you build an online store, make sure you are available to listen to your customers’ grievances and resolve them timely. With multi-channel support to your customers, you can establish a customer-oriented ecommerce business.

Be available for your customers with StoreHippo: 

StoreHippo helps you offer the best-in-class customer experience on your marketplace with its easy integrations and other built-in tools. Check how you can align your brand for the best customer service experience:

• Seamlessly integrate with multiple channels to connect with your customers at multiple touchpoints
• Integrate with the best live chat software and chatbots on your ecommerce marketplace
• Add various chat apps to your ecommerce website and be available for your customers around the clock 
• Integrate with the best CRM software to cater to various customer queries like ongoing festive offers, delivery tracking, cancellations, refunds, etc.

Conclusion

To hack the growth in 2024 and beyond, build an online store that is customer-oriented and helps you pivot to different business models seamlessly. But wonder how to prepare your enterprise ecommerce platform for the future of ecommerce? Well, all you need is a futuristic ecommerce platform that helps you match the pace of the evolving buying habits in India.

StoreHippo enterprise ecommerce platform in India is a 360-degree robust ecommerce solution provider that helps businesses go to the market in record time. StoreHippo helps create ecommerce websites for high-volume businesses like yours seamlessly. With advanced features and enterprise-grade tools at your disposal from StoreHippo, you can handle the complexities of different ecommerce business models like a B2B online marketplace, B2B2C, D2C etc. or create any hybrid business model. 

Are you all set to prepare your enterprise ecommerce business for the future of ecommerce with StoreHippo? Explore 300+ features from StoreHippo by starting your 14-day free trial now.