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The open network of digital commerce (ONDC) is a brand new initiative by the ‘Department For The Promotion Of Industry And Internal Trade’. India is giving birth to a revolutionary concept for the whole E-commerce industry.
The Indian e-commerce industry has been dominated by many foreign e-com giants and since long they have established a monopoly over the whole industry. This has deprived all the small and medium-scale retailers of our own country and has obliterated any of their chances of building a world-dominating e-com empire.
The Indian government has sensed the monopoly of foreign e-com players and created the concept of ONDC. The open network of digital commerce is an open platform constructed upon the base architecture of UPI. This open platform revolutionizes the whole digital commerce industry by creating a uniform way of commerce within the country.
How does ONDC function?
The revolutionary platform is an open protocol that will create an integrated & open network of all the e-com sectors including, Retail, Hotel, Restaurants, and Last-mile delivery. The open platform will start by integrating many e-commerce platforms that will result in a strong,inter-connected, and democratic commerce network.
After integration, when a customer enters the name of the product on any e-com platform, s/he will get an unbiased and full comparison list with all the e-com vendors selling the same product.
For eg, if a consumer wants to buy a notebook; s/he will go to Amazon, Flipkart, or any other e-com platform to search the same. Earlier Amazon used to provide a list of only those vendors who are associated with Amazon. But now, no matter whether the consumer goes to Flipkart or amazon, s/he will get a full list of vendors integrated on the ONDC platform.
Now, the small and medium vendors won’t have to integrate with the giant e-com players to reach the end consumers. They will now be able to reach their target market individually with this initiative started with a non-profit cause.
Why Is It The Swadeshi Movement 2.0?
The swadeshi movement symbolizes the initiative of prioritizing Indian products over foreign goods. Similarly, many foreign industry giants are monopolizing over Indian digital commerce market and our country’s hard-earned money is ultimately adding up to the income of foreign countries.
With the introduction of ONDC, the Indian e-com player will now have the chance to compete indifferently with the foreign giants. This integration will not only disrupt the monopoly of these foreign industrialists but will also uplift the small & medium scale retailers of our country.
Previously, the small retailers had to integrate with pre-established e-com giants like Amazon, Flipkart, eBay, etc. Integrating with the large enterprises; the small retailers had to give away 20-30% of their profit from the sale and this is the reason why Indian retailers are not able to contribute to the country’s income.
Not only ONDC will benefit the retailers of India but also it will provide option to the Indian customers so they can choose the retailers from other e-com platforms. Unlike, the e-commerce giants, the ratings and product placements will be free from any biasness and it will solely depend on real-time product ratings regulated by the uniform platform.
This will uplift the Indian retailers and will ultimately help both the industrial and financial growth of the country. With the help of ONDC’s uniform integrations, the Indian e-commerce industry will flourish in no time and will create new and better opportunities for all the future industrialists out there.
Rokt, the global leader in e-commerce marketing technology, today announced that Bill Magnuson, Founder, CEO and former CTO of Braze has joined the Board of Directors.
Magnuson brings deep technical experience to the rapidly growing e-commerce business, joining recently appointed Steve Krenzer (from Groupon), along with Bruce Buchanan (CEO and Chairperson), Tom Cowan (from TDM Growth Partners), John Ho (from Janchor Partners), Tushar Roy (from Square Peg Capital) and Tek Heng (Company Secretary) on the board martech news.Magnuson, who co-founded Braze (formerly Appboy) in 2011, has spent the past eight years building Braze into a comprehensive customer engagement platform that powers experiences between consumers and brands delivering billions of messages daily.
With clients including Canva, Disney, HBO and Overstock, Braze has raised over $175m in funding and grown its business to 500 employees worldwide.
As Rokt is on a similar growth trajectory, Magnuson’s experience will bring great guidance to the Rokt Board as well as the research & development, product and technical teams.“Rokt is at a moment in their growth where my experience with Braze will be instructive, and I hope to be able to bring support as they accelerate globally, making e-commerce as smart as it can be for all brands and consumers alike,” said Magnuson.
“I’m looking forward to partnering with Rokt’s impressive Board of Directors to build the brightest future possible.”Rokt, who recently closed US$48m in their Series C investment round, has transformed e-commerce in over 11 countries by identifying that when customers are buying online as a consumer or on behalf of a business, they increasingly expect more personalized and relevant experiences.
Rokt’s proprietary technology, machine learning and AI makes e-commerce smarter, faster and better.
The term ‘e-commerce’ refers to the business where business is conducted online; where buyers sell their products and services over electronic systems like the internet or some other computer networks.
Some of the most well-known applications that are related to e-commerce are:
• International and domestic payment systems
• Group purchasing
• Enterprise content management
• Automated online aides
• Newsgroups
• Online banking
• Online shopping
• Electronic tickets
• Teleconferencing
• Social networking, etc.
With the advancement in technology, the presentation of e-commerce has played a vital role in easing human life. Services like the online following, online shopping, online banking, informal communication, etc. have facilitated the social being to a great extent. Here are the following benefit of eCommerce for business.
No market is successful if you are lacking two basic things, luck and knowledge.
The knowledge helps you make educated decisions that facilitate your ultimate choice for risk and reward.
It is very important in businesses as it guides the markets about their future strategies.
Frequency guides us about the number of times they have purchased from us.
The next question to be answered is why it is essential.
We, as marketers, campaign unanimously about our product, but aren't getting the expected response.
Qattaf tech has been providing exceptional E-COMMERCE services to many businesses in the San Gabriel Valley and beyond.
E-commerce businesses are becoming a reliable way to buy products online.
Branding plays a direct role in improving chances of e-commerce business success.
An increasing number of global customers are switching to e-commerce sites to purchase everything from groceries to apparel, and electronics to lifestyle products.http://qattaftech.com/product/e-commerce/Tel : +923094393314Phone : 971-999-9293Skype ID : akhawazbroMail : [email protected] : 266 Denton Lane,Chadderton, Oldham, Lancashire United Kingdom.
