Just got back from an interesting session on E-commerce at the Annual Business Summit at IIMA this evening. Since its the buzz everywhere, its no different here either.
The event was a panel discussion with the top guys of some of the top firms in the space. Here are some of the interesting things that came up.
First of, Rohit Bansal, the super cool Co founder of SnapDeal shared some insights about growing out in the market. And how its tough to get it right the first time – in essence telling all the students to go out the, get your hands dirty and get it wrong. Its Entrepreneurial commonspeak, but I am guessing there’s some truth to it.
Sachin Oswal – the guy who helps me pay my bills – COO Infibeam came up something even better. Sharply dressed IIMA students, with even sharper questions, asked about how E-commerce would compete with traditional retail – if at all. And his answer lay in the Moore’s Law. It basically states the computing power doubles its capacity every 18 months (based on data from the last half century).
Essentially, its going to get easier for firms to have more products, more deals, more technology up and running for lower, or the same costs through innovations on the cloud. So how exactly is a real inventory stockpile going to compete with a virtual, cloud based one?
So with the cost/inventory/selection part heavily in favour of e-commerce, the battle will be won or lost of customer experience and logistics.
Battle lines are drawn, and the future is here. Certainly.