ONDC or Open Network Digital Commerce is here to revolutionize the ecommerce industry and transform the online shopping habits of customers.
The buzzword in the ecommerce sector, ONDC is going to make buying and selling easier.
Well, by simply connecting the buyers and sellers at a scale like never before. To put it in layman's terms, ONDC is literally connecting every possible seller registered on the network with every possible buyer buying online.
Imagine the kind of market it opens up for the buyers. With ONDC at their disposal, the buyers have great Indian Bazaars accessible through their smartphones.
Phenomenal! Isn’t it?
The Indian ecommerce landscape is one of the fastest growing in the world. Ecommerce has moved beyond the metro cities and buyers across the country are familiar with it in some form or the other. As per reports, 98% of Indian pin codes have been serviced by ecommerce sellers by 2020.
Let’s dive deeper and check some ecommerce trends in India:
$99.44Bn is the projected revenue of the Indian ecommerce market in 2022
$ 170 billion is the estimated reach of the online retail market by 2027
61% of the overall market share in 2022 was through online shopping from Tier II and Tier III cities
$ 400 billion is the anticipated market size of the Indian e-commerce industry by 2030
95% of all purchases will be through eCommerce by 2040
Source: Business Standard, Smartprix, Indian Retailer, Statista
The above data distinctly reflects the power ofIndian ecommerce industry and the remarkable changes it is going to bring in the online shopping habits. However, more than 60% of India’s e-commerce market is controlled by Amazon and Flipkart today, which is expected to change with the ONDC. The ONDC platform is going to work as a boon for small sellers and retailers and also bring the final benefits to the customers by offering them better choices.
Let us look at the reasons why ONDC is a game changing online shopping solution for Indian buyers:
The modern age customers like to look at a plethora of options before hitting the Buy Now button. The ONDC buyer app is here to provide the consumers exactly what they want: a variety of options and not only from the big sellers but also from the local neighbourhood shops.
With hyperlocal sellers on the platform, ONDC network is going tol be a game changer for the ecommerce industry. Customers will now be able to look beyond the giant marketplaces like Amazon, Flipkart, Big Basket etc. and get better deals and services from their very own neighbourhood shops.
Buyers on the ONDC platform can connect with the sellers through any buyer app like Mystore buyer app can buy groceries, fashion, home decor etc. ONDC will gradually open up to more industry verticals making an extensive products and services catalog available to the buyers.
With a large number of sellers on the ONDC marketplace, buyers get competitive pricing to choose from. With a lot of competition onboard, sellers will also be willing to give the best prices to the buyers to win over loyal customers. .
Also, when sellers pay high commission to the giant marketplaces, they are unable to offer good deals to their buyers. But with the ONDC initiative, sellers will be paying only a fraction of commissions they used to pay to the marketplaces. Also, sellers will be free to decide their own prices, discounts, returns refunds etc. With the freedom to implement their own rules sellers can better plan their pricing which would ultimately benefit the buyers.
The ONDC-connected Mystore buyer app brings buyers and sellers close, benefitting the buyers with competitive pricing from various sellers enabling them to make an informed decision.
While shopping on monopolistic giant marketplaces, buyers used to have fragmented buying experiences. Buyers had to spend considerable time hopping from one site to the other to find the different products and services they needed. ONDC does away with this by bringing together all the sellers, service providers and solution providers within the network.
Using an ONDC buyer app like Mystore, customers can not only choose from a wide variety of products but also choose their preferred logistics partners wherever applicable. Thus they have better choices and multiple options. Buyers can look for nearby sellers and delivery providers on the ONDC network and make an informed and economical choice after comparing different prices from different delivery partners.
86% of customers are willing to pay more for a seamless customer experience. The ONDC platform makes sure the buyers have an enhanced buying experience while online shopping. The open network will allow buyers and sellers to connect with each other which makes the sellers understand buyer requirements better and offer them personalized deals, products or delivery solutions.
This goes a long way in building a strong buyer-seller relationship which otherwise is not possible on popular marketplaces.
Buyers can buy from any seller irrespective of the buyer application they use. For example, a buyer can use the Mystore buyer app and connect directly with their preferred sellers who might have earlier been selling on two different marketplaces, like Amazon, Flipkart etc.
Well, we all know the importance of fast deliveries for a buyer. 80% of shoppers want same-day shipping and 61% want their packages even faster.
With the hyperlocal retailers on the ONDC platform, buyers are able to get better service and faster deliveries from the sellers in their own vicinity. The ONDC initiative with its focus on improving hyperlocal ecommerce is going to help buyers get the best products and services much faster.
ONDC or Open Network for Digital Commerce is a government-backed open network platform designed to democratize the ecommerce market. It offers an open-to-all network for buying and selling of goods and services by connecting the buyers with sellers and the service providers.
Let us look at the benefits ONDC platform offers to the buyers:
Connects the buyers with the sellers and service providers who are registered on the ONDC network
Enable the autonomy of the buyers
Wide availability of products and services on the ONDC buyer app
Better service and faster deliveries with hyperlocal sellers
Mystore is an ONDC-connected marketplace that offers both Mystore buyer app and Mystore seller app to help the buyers and sellers connect and trade products or services on the open digital network.
The advanced features of the Mystore buyer app includes:
A seamless buying journey to customers with faceted search, multi seller cart etc.
Can place orders across all categories, fashion, grocery, home decor etc
Access to a wide range of sellers and their products to choose from
Buyers can send their queries to their chosen sellers and rate the sellers and services
Buyers can place their orders, make payments, manage their orders, track order status, initiate a return or cancel the order
To experience a seamless shopping journey on the ONDC network, buyers need an advanced buyer app like Mystore. The Mystore buyer app is designed that enables quick buying and frictionless checkout on the open network.
The ONDC initiative is going to bring revolutionary changes in the online shopping habits of the Indian buyers. While bringing SMEs close to the mainstream, it will also bring the hyperlocal stores and shops from far-off locations close to the buyers, making their shopping journey seamless.
An advanced buyer app like the Mystore buyer app offers a great buying experience on the ONDC network.
Ready to explore online buying like never before? Check out Mystore and start shopping now!