Newsletter May 2024
Hello Reader,
We are back with the latest edition of GH Pulse. In this issue, we embark on the journey to explore the meteoric rise of cross-border eCommerce from India.
As the subcontinent strides confidently into the digital age, its entrepreneurs and enterprises are harnessing the vast potential of eCommerce fueled by the demand from digital-native global consumers. From artisanal handicrafts manufactured across regions to the 'Made in India, Made for the World' brands, Indian sellers are offering products that cater to diverse global preferences across categories, strata, and consumer segments.
Global marketplace platforms are playing a pivotal role, acting as conduits for Indian sellers with international buyers. These digital marketplaces provide a ready-made infrastructure for listing, marketing, and shipping, thereby lowering the barriers to entry for Indian businesses. Additionally, the advent of fintech innovations has facilitated seamless cross-border payments, ensuring that transactions are swift, secure, and efficient.
The Indian government's proactive stance on fostering a conducive environment for digital trade has also been instrumental in mitigating the erstwhile complexities of cross-border trade. As per the Directorate General of Foreign Trade (DGFT), India's eCommerce export, currently valued at $1 Bn annually, is likely to increase to $400 Bn over the next six to seven years signifying a huge potential for homegrown brands' eye for a global retail pie.
However, the journey is not devoid of challenges. Navigating the intricacies of international trade, understanding varying regulatory landscapes, consumer preferences, and competitive dynamics along with the challenge of marketing products abroad are some of the key challenges reported by Indian eRetail business. True localization, backed by good market research and cultural fit is critical when marketing to customers and can only be achieved by fostering strategic partnerships with global eCommerce enabling partners that can help tap into this market potential seamlessly.
In other news, digital-first brands continue pursuing the omnichannel retail growth path. Mall developers have started working on short-term leasing agreements, pop-up stores, and experimental store models for D2C brands, a much-anticipated move propelled by the growing demand from GenZ consumers who are driven by value for personalization and deeper consumer-brand connect.
Industry Events
Saudi Arabia Retail & eCommerce
Summit 2024
Digital Commerce Enabler
Awards & Recognitions
Honoring the Pioneers Transforming the Retail Industry in KSA
Think Digital - Go Online. Grow Online.
CLient additions
"GH is Pro in understanding consumer segments and delivering high-performance marketing campaigns."
Shivani Goel
VP - Marketing
Featured Story
The emergence of Saudi Arabia as the fastest-growing eRetail Market in the MENA region
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People Power
Celebrating the contribution of GH teammates who voted across our regional offices.
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