An expert & industry disruptor's insights into the world of Indian commerce

An insightful peak into the challenges and opportunities that the e-commerce market holds for the nation

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Published: Jan 29, 2024 04:40:38 PM IST

Updated: Jan 29, 2024 06:06:00 PM IST

In an enriching conversation with CNBC TV18, Chirag Taneja, Co-founder, and CEO of GoKwik, discusses the company's approach to building full-stack solutions for e-commerce brands. GoKwik is India’s leading e-commerce enablement company. Delshad Irani, the host, delves into modern-day relevant topics such as technology, innovation, market dynamics, strategic partnerships, the impact of innovations and customer stories. They also touch upon the company’s digital success stories and what the company envisions for its future.

Taneja begins by emphasizing on the young India, and the nation’s exciting market for e-commerce. With its vastly young population and a significant proportion of internet users, the country is in the midst of a digital revolution. India will stay a young country till 2075, and Taneja expressed how he is excited to see Gen-Zs take over this space. He reflects on the transformation of e-commerce in India from its early days, primarily purchasing books online, to the present, where consumers are increasingly exploring options beyond major marketplaces like Amazon and Flipkart.

He also expressed how the world is moving towards an experiential interface for shopping & GoKwik is keen on being a part of it. GoKwik has a vision of enabling merchants to achieve greater Gross Merchandise Value (GMV) and are focused on creating seamless, secure, and performance-driven solutions for e-commerce brands. He briefly touches upon the company's journey and its innovative approach to solving the challenge of cash on delivery through risk scoring.

As the interview progresses, Taneja shares insights into Gokwik’s full-stack solutions. He emphasizes on the importance of scalability and performance in the e-commerce world. He mentions the deployment of AI, including ChatGPT and other language models, to enhance customer experience and automate processes.

GoKwik's partnerships with e-commerce brands are approached with a collaborative lens. In today’s market, one can’t ignore being agile and remaining relevant. And hence, GoKwik believes in treating their vendors as partners and just solution providers.

The average consumer of e-commerce in India is also evolving. Consumers are now more adept to the changing technology & respond well to automated mandatory processes. The young population of India has the potential to bring in a transformation and various growth opportunities in many product categories.

The interview concludes with a focus on the rising trend of conversational commerce, particularly on platforms like WhatsApp. Taneja sees chat commerce as the next phase of e-commerce evolution, where intuitive and conversational interactions will drive customer engagement and satisfaction.

For the upcoming Forbes India presents GoKwik Future of Commerce Conclave, Taneja added that he is looking forward to a comprehensive exploration of the e-commerce landscape. He is keen on deciphering new trends, and shedding light on the opportunities and challenges. Both Delshad & Taneja agreed that the anticipation is high for such insightful conversations at the event, which will provide a thorough understanding of the shifts and innovations shaping the future of commerce.

In summary, this dialogue provided valuable insights into GoKwik's mission for the coming years, and the evolving nature of the Indian e-commerce market.