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ECOMMERCE 3.0 – THE FUTURE OF ONLINE SHOPPING

Retail market has a very ancient history, dating back to antiquity. Over the centuries, retail shops were transformed from little more than rude booths to the sophisticated shopping malls that we know today, and it has been constantly evolving with the lifestyles changes in modern days.

When internet era began and internet started to become a thing for mass in 90s, one of it’s early effects was to foster a much greater proliferation of retailers than ever before. It has allowed businesses to connect with potential customers and express their brand in entirely new ways, giving shape to e-commerce.

Over last couple of decades of its existence e-commerce has evolved constantly with more buyers adopting to a new form of buying on internet, manufacturers discovered a new channel to reach out to potential buyers, and in the process it created many auxiliary businesses around it, like discovery, payments, logistics etc some of them have later emerged as an industry in their own space.

Though E-commerce is becoming a mainstream channel for buying and selling goods, over last 20 years much of its advancements has been limited to geographical expansion. Despite huge evolution of internet e-commerce format did not evolve beyond a traditional form of selling and buying. Its evolution in that sense has been very similar to Automobile industry’s technological advancement. Traditional E-commerce continue to operate a seller’s economy model where you buy what is listed on their website, in a world that is popularly believed to have transformed in to buyer’s economy. Buyers don’t have much choice over product or price

During the last decade many new businesses emerged around the ecosystem of e-commerce, alongside payments etc. One such format emerged was comparison engine for e-commerce shoppers. The core idea of comparison platform was to give price visibility of a product on different e-commerce website, so that you buy where it is the cheapest, and do not lose out on best price online. Price discovery in one window was a good step forward for online shoppers, and that gave E-commerce 2.0.

The comparison sites are supposed to help a online shopper to get the best value out of his shopping, but the reason comparison platforms haven’t been very popular amongst buyers are majorly two, one, it gives visibility to online prices only. Second, even if you want to go ahead and buy something on a comparison site it redirects you to respective e-commerce site which is an awful experience.

The next advancement of E-commerce is about moving beyond comparisons and supply driven commerce. E-commerce 3.0 is about changing it all, changing supply driven commerce where a platform limits buyer’s choice to the publically listed products on their own website to a demand driven model where a consumer likes something somewhere and asks you to offer that. It’s also about moving from generic one-size-fits-all pricing strategy to personalized price, from best of online price to real best price in the market. And also from re-directing to websites to hosting transactions and making commerce end to end

arzooo.com is bringing that face of e-commerce where everything begins with the buyer. A platform for buyers to seek the best possible price of any item they wish to purchase. A buyer can demand price for a product that he liked anywhere on or off internet and arzooo creates the price beating the price elsewhere online. This certainly promises to change the way people do online shopping in India.

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IndiStart Team

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