CONSUMER ACQUAINTANCE AND PERCEPTION ABOUT MOBILE WALLETS IN INDIAN URBAN CONSUMER MARKETS

Year 2019, Volume: 5 Issue: 13, 233 - 239, 28.04.2019

Tejas Dave

https://doi.org/10.18769/ijasos.531390

Abstract

The Indian consumer
markets have observed considerable growth in last two decades. The Information
technology revolution has provided opportunities of market expansion to
national and international companies in India. The new era is of M-Commerce and
mobile applications which have broken all barriers for markets in last two
decades. Now point of sales (POS) locations is not important. The consumer can
buy anything from anywhere in the world as the multiple online options are
available with consumer. In last two decades, rapid urbanization has been
observed in India. The purchasing power of urban consumer is also considerably
improved in last one decade. There are many companies and financial institutions
have realized opportunities in online payment platforms. To make it more
convenient to consumers and market, many organizations have ventured into
digital wallet business. They have received tremendous response from the urban and
rural Indian markets in last four years. There are many reasons behind swift
penetration of digital wallet market; one of them is brisk expansion of
smartphone market in India with multiple brands from Europe, US and China. This
paper mainly focuses on Indian urban markets and tries to understand and
measure perception and preferences of consumers of urban India. The findings
highlight the issues pertaining to supply chain realignment, on field
application problem and financial implications of digital wallet. It also
attempts to identify strategies pertaining to supply chain and marketing to
make this platform more consumer and market centric.

Keywords

Supply Chain Integration, Strategic Alliance, M-Commerce, Digital Wallets

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