FICCI stated that Online commerce business to reach $188 billion by the year 2025

FICCI stated that Online commerce business to reach $188 billion by the year 2025

Online Commerce Business: Now, all the consumers are no more taking online commerce as an alternative platform to buy things. There is a massive growth which is projected in a repost and depicts that Online commerce will reach 188 billion US dollars in the year 2025 from the 64 billion US dollars in the year 2020 which is giving a signal of its solidification and converting the platform to default and primary for many consumers.

This initiative is coming with the help of growing consumer preferences to buy things from the digital marketplace stated by FICCI in a report which is named “A progressive shift from transactions to trust” which was released on Wednesday.

Consumers Affairs Secretary, Leena Nandan stated while addressing the inaugural session on Building Consumer Trust in a Pandemic Era during the Customer Trust Summit of 2021 that transparency and trust have never been such important till now.

While elaborating on how can brands and companies will able to provide experiences that meet customer’s needs and wants during the current stressful times. As Nandan stated that there are so many various initiatives of the BIS that are focused on industry needs.

Online Commerce Business, There is a need for continuous dialogue with the industry players and BIS which will help in understanding what it is that they are performing in the field of creating a good quality ecosystem.

They are trying to educate the consumer about the importance and value of the ISI mark where the collaboration and participation with the industry is the only key to reach out to safeguard as per the interest of consumers which she stated as a statement of FICCI. Nandan also stated about the role of government to protect the interest and changing the nature of the transaction in the country.

The goal is to continue the focus on the consumer-centric approach for developing more innovative newer products and solutions. She also stated if the government failed in its task and unable to make an ecosystem to give a tough competition so that the consumers will get the right value of goods and services.

Online Commerce Business, The Consumer Protection act which has opened avenues for the consumers in a way that will be beneficial for the industries as well. The ultimate objective is that the consumer will be able to exercise their choices and at the time when the whole country is growing as consumption is a major factor in the vibrant economy to be in place. 

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