Salesforce has released the second edition of its ‘State of Commerce’ report that shares insights from over 4,000 commerce practitioners across 25 counties, including 200 from India, on how B2B and B2C companies are adapting to a digital-first customer engagement landscape.
Within two years, respondents from India anticipate that, on average, 48 per cent of revenue will come from digital channels.
The rise of cryptocurrency as a payment option is forecasted to soar in the coming years. In the meantime, mobile wallets and installment plans are seeing a big boost. 71 per cent respondents in India accept at least one mobile wallet option at checkout.
Commerce firms are concentrating on using consumer data to increase efficiency and profitability since their budgets are being squeezed by inflation and the depreciation of third-party cookies. Automation will be a priority during the next two years, according to 62 per cent of respondents.
Deepak Pargaonkar , vice president – solution engineering, Salesforce India , said, “While the migration of customers and businesses towards digital channels began much earlier; the pandemic only accelerated the transition. The increased transactions online are both a boon and a challenge for customer-facing teams handling transactions on existing and emerging platforms. Investments in technology are key to stay on course with the digital wave in the coming years.”
Manish Kapoor , managing director and chief executive officer, Pepe Jeans India , said, “Understanding customer dynamics has never been easier considering the amount of data available on individual customer trends. Running a successful e-commerce business is not a sprint. Businesses require automated technology platforms that can keep up with changing customer needs. Today, Pepe Jeans uses Commerce Cloud to deliver seamless ecommerce experiences across all customer touchpoints.”
The veteran ecommerce leader and former Amazon and Walmart executive joins CommerceIQ as president, positioning the company for rapid growth in retail ecommerce management
In a conversation with ETBrandEquity.com, HDFC Life’s Chief Marketing Officer and Head of E-commerce & Digital Business Vishal Subharwal spoke all things martech, ranging from how the move to cloud has taken pace to how with the current tools available, personalisation and remarketing has become even more efficient.
With this partnership, the service company will further be able to optimise its existing dynamic product models with Truecaller SDK and ensure unique, intelligent, and secure shopping solutions for everyone in the GoKwik network.