The Internet Commerce Summit 2023 took place on Tuesday, December 12 in Bangalore, focusing on significant opportunities that could potentially reshape the trajectory of e-commerce in the country. Bhavesh Pitroda, CEO of IMAGES Group, commenced the event with a welcoming address.
Digital CEOs Click on the Future Button Session
The summit began with a session titled 'Digital CEOs Click on the Future Button,' moderated by Barathi Srinivasan, Partner at Kearney. The panel, consisting of Ashwini Seth (CEO & Founder, Dennison India), Dhiraj Agarwal (Founder, Campus Sutra), Mahesh Patel (Co-founder, Cloud Tailor), and Preeti Gupta (Chief Business Officer, Nykaa), explored the potential of Gen Z online buyers and the increasing purchasing power in Tier 2 and Tier 3 cities.
Preeti Gupta emphasized the industry's shift from unorganized to organized markets. She noted, "The digital adoption has accelerated by 3 to 5 years; otherwise, the industry's growth would have been considerably delayed. Gen Z, in particular, demonstrates a discerning eye for product quality, influencing their buying choices.
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Mahesh Patel anticipated substantial contributions to the e-commerce landscape from Tier 2 and Tier 3 cities. He said, "These cities, with their growing disposable incomes, are expected to become significant contributors to the e-commerce sector."
Money Talks! Digital Transactions Translated for Tomorrow Session
In the panel discussion on 'Money Talks! Digital Transactions Translated for Tomorrow,' moderated by Aditya Kumar, Co-founder & CEO of Niro, industry experts discussed the potential of scaling online payment systems.
Prakash Venkataramani, Senior Director & Global Payments at Flywire, highlighted the transformative impact of real-time payments on the global commerce landscape. "The remarkable figure of 11 billion transactions on UPI in October-November 2023 signifies the profound influence of real-time payments on India's economic landscape,” he added.
Other Sessions in the ICS 2023
ICS 2023 |
The event included panel discussions focusing on crucial subjects such as 'Money Talks! Digital Transactions Translated for Tomorrow.' Entrepreneurs from Angel One, Flywire, and Swift Money contributed their insights to this session.
Another significant discussion, 'Digital Thought Leadership – Game Changing eCom Customer Strategies,' presented a comprehensive perspective on e-commerce strategies, featuring expertise from various industries.
The event also showcased keynote addresses by industry veterans, including Sridhar Harihara subramanian, Senior Director, Solution Engineering at Salesforce India, and Percy Avari, Country Head at Aramex. They explored topics such as 'Building Blocks of E-commerce' and 'Evolving E-commerce Logistics: Trends and Innovations,' respectively.
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