Take example of Paytm and Phonepe , Now most of the consumers don't even think to carry money alongside , this is the change in consumer change of payments .
Let's discover potential of Quick - Commerce and what are challenges for Old E-commerce Giants like Amazon, Flipkart and DMart 💭 :
• I think , the main reason behind the Quick Commerce is category creation and changing consumer behaviour and Consum
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Deep Makhasana
Hey I am on Medial • 2m
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The Rise of Digital Payments in India
India's digital payments landscape has witnessed a remarkable transformation in recent years, driven by government initiatives, technological advancements, and changing consumer behavior. The country's large popu
Finished implementing phonePe in my company and to my surprise total merchant traffic of phonepe was more than of Paytm, Amazon Pay, flipkart seller and Bharatpe all combined. we may be using Gpay or Paytm for day to day transactions but it's PhonePe
The Consumer Adoption Process
The consumer adoption process involves five key stages: Awareness, Interest, Evaluation, Trial, and Adoption.
1. Awareness: Consumers first learn about the product.
Example: Tesla created awareness for its EVs through
Case Study: PhonePe – India's UPI Leader
Founded in 2015, PhonePe dominates India's digital payments landscape.
Stats:
Users: 350M+ registered
Market Share: 40%+ of UPI transactions
Business Model: Transactions, financial services, advertising.
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