Competitive horizon
Article Type: Competitive horizon From: Strategic Direction, Volume 30, Issue 5
Packaging industry in India set for strong growth
The India Times (http://www.economictimes.indiatimes.com) reports that the packaging industry in India will increase to $32 billion by 2025. At present, the nation accounts for an annual $24.6 billion in an industry boasting a global turnover of approximately $550 billion and a yearly growth rate of around 15 per cent. Demand for packaging in India is set to soar as the number of middle-class consumers increases tenfold during this period. This means that more industry professionals are needed and the Indian Institute of Packaging intends to launch various new undergraduate and graduate programs commencing in 2015. These courses are set be oriented toward engineering to equip the 22,000 or so Indian companies that require packaging professionals. The report also points out the scope for India to drive innovation in the sector by using agricultural by-products in the manufacture of packaging materials.
Massive demand for smartphones anticipated in Russia
Research carried out by consultants J’Son & Partners indicates that the market for smartphone mobile applications in Russia will expand eight times over the next four years. By 2016, revenues for software developers are predicted to reach $1.3 billion in what is one of the country’s boom markets. It is reported by http://www.pravda.ru that games account for the largest percentage of apps by a considerable margin. Consumers also purchase applications such as translators, wallpapers, navigation and antivirus software, among others. Least popular are business applications, which are also the most expensive. Even more encouraging is the fact that the market is still in its infancy. Smartphones are currently owned by just seven million Russians at most, meaning that huge potential remains for the 50 million consumers who are active on the Internet to become owners of the devices before long. Another plus for creators is that extra investment is needed when consumers seek additional services following initial installation.
Investment in information technology to rise in 2014
Worldwide spending on information technology (IT) is set to rise by 3.1 per cent in 2014, according to Gartner. The technology research specialist believes that businesses such as retailers and airlines exploiting big data generated by devices such as smartphones will drive this increase in spending to $3.8 trillion. As reported by Reuters (http://www.uk.reuters.com), the most vibrant IT sector is predicted to be enterprise software. Global investment in this area is forecast to increase by 6.8 per cent to $320 million. Firms are spending more to improve business-to-consumer processes and enhance the efficiency of consumer marketing. Spending on computers, tablets, mobile phones and other devices is forecast to expand by 4.3 per cent after falling by 1.2 per cent last year. The one negative in the report is the expectation that factors such as lower demand in China will restrict growth in the telecoms sector to 1.2 per cent. A figure of 1.9 per cent had previously been anticipated by Gartner.
How to succeed with e-commerce
Low overheads and limited barriers to entry make e-commerce an attractive business proposition. But even though e-commerce is thriving, failure remains common. An article published by http://www.americaeconomies.com highlights several measures that can help ensure success. Specialization in a certain product type is considered essential and a means of indicating your expertise to consumers and simplifying their selection process. Showcasing the products demands an effective Web site design that signals an operator who is professional, reliable and can be trusted. The key here is to employ the right people to create a Web site that ticks the right boxes. Employing a proven marketing company to get you noticed at the outset is equally imperative. Another must is delivering excellent customer service. The report claims that firms dealing promptly with inquiries and concerns can expect happy patrons who diffuse positive word-of-mouth recommendations. Shoppers are also likely to be impressed if the checkout process is straightforward and different payment options are available to them. Finally, keeping in touch with customers is seen as a way to achieve ongoing success. Companies are advised to send out regular mailings about new promotions and offers to sustain their interest in the firm. However, it is crucial to make these messages relevant such that the customer does not decide to opt out of such communication.
