A freight forwarder also known as a non-vessel operating common carrier (NVOCC), is a person or company that organizes shipments for individuals or corporations to get goods from the manufacturer or producer to a market, customer or final point of distribution. Forwarders contract with a carrier or often multiple carriers to move the goods. A forwarder does not move the goods but acts as an expert in the logistics network. These carriers can use a variety of shipping modes, including ships, airplanes, trucks, and railroads, and often multiple modes for a single shipment. For example, the freight forwarder may arrange to have cargo moved from a plant to an airport by truck, flown to the destination city, and then moved from the airport to a customer’s building by another truck.
Mobility has a huge impact on freight forwarding and serves as a solution for the major problems faced by the freight forwarders such as timely and safe delivery to the customers.
Some of the mobility solutions for freight forwarding are:
- Consignment scheduling based on the availability of drivers and transports
- Automatic routing solution
- Asset tracking
- Reefer monitoring
- Environment-friendly driving alert and monitoring of carbon emission (Green logistics)
Pretail (also referred to as pre-tail, pre-retail, pre-launch, or pre-commerce) is a sub-category of e-commerce and online retail for introducing new products, services, and brands to market by pre-launching online, from creating an interest waitlist of signups before launch to collecting reservations or pre-orders in limited quantity before release, realization, or commercial availability. Pretail includes pre-sale commerce, pre-order retailers, pre-launch marketing services, incubation marketplaces, crowd funding communities, and demand chain management systems. Retailers today are increasingly pre-tailing to test, promote, and monetize consumer demand in the initial phase of the new commerce pipeline as first introduced in a 2012 Forbes article. Consumers engaging in Pretail are known as early adopter, fan, backer, supporter, or presumer (pre-launch consumer).
Pretail demand is growing in consumer retail: electronics, movies, music, video games, books, fashion, software apps, connected devices, cars, toys, cosmetics, art, events, etc. This trend is being driven by companies to enhance new product development, better organize product releases, lower market risk, and increase early fan adoption. Large companies such as Amazon and Apple are pre-tailing new products to measure demand, manage supply chain market dynamics, and monetize fandom anticipation. Small companies are embracing crowd-funding platforms such as Kickstarter and Indiegogo before product realization to test product-market fit, fund manufacturing, and build fandom community. Consumer involvement with products and services pre-launch is becoming mainstream according to industry experts on consumer behavior trends. Kickstarter and Indiegogo are the major market players
India is one of the fastest emerging countries in m-wallet market. In the FY 14-15 alone, the revenue from m-wallet is 130% more than that of the previous year (survey says). It is expected that in the year 2022, $11.5 billion revenue will be generated by Indian m-wallet market. Currently, m-wallet for telecom and broadcasting vertical is the most used and most highly revenue generating one followed by banking vertical. But in the upcoming years, banking is expected to be the fastest growing vertical with the highest CAGR (Compound Annual growth rate)
INDIAN MOBILE WALLET MARKET TRENDS
- 89% consumers carry at least one merchant loyalty program in their card
- 78% customers are “frequently” or “sometimes” influenced by coupons
- 60% customers use it for comparison shopping
- 58% people feel wallet-based ticket management is very appealing
- 56% people do their bank activities using mobile wallet
- 56% people want location-based services and offers.
- 54 % people prefer alerts about coupon expirations etc.
- 51% use mobile for some purchase or other
- 41% people already use electronic receipts
- 20% people carry their phones but not wallets
REVENUE GENERATION MODELS
Dis-intermediation is the removal of intermediaries from a process, the cutting out of the middleman. In this case, wallets remove the middle men for Telecom, DTH, and companies. Now companies can give higher commissions
3.2 CONTENT SPONSORSHIP
A particular and distinct section of content located on a Web site that is sponsored often by a single advertiser. Often the sponsored content will coincide with the subject matter as well as the target demographic of the Web site. Paytm and freecharge do it through coupons. The huge customer base these sites (Paytm, Freecharge, etc) have will tempt the marketers to invest.
Example: Pepsi Paytm cash for Every One and half litre beverage bottle purchased.
3.3 DIVERSIFICATION OF RISK
For example; Paytm is now also into selling products, Bus Tickets). They outperform Competitors by using Percentage of Profits earned in other business which the parent company or other domains (Bus tickets, Products etc.) has, are channeled in the form of discounts to the Customers to keep them coming
MOST PREFERRED FEATURES OF MOBILE WALLETS:
- Location-based services (location awareness)
- Comparison shopping
- Loyalty programs
- Virtual receipts
- Digital coupons
- Secure transaction
- Speedy, one-click payment
- Transfer money from wallet to wallet and wallet to bank using mobile number or mail id
- Recharge and pay bills
- Online shopping and payment
- Request money, pay retail outlets, pay for tickets (movie, transport), hotel booking etc.
- Send gifts (e-gifting)
- Find nearby outlets (for cashless retail payments such as m-pesa)
- Issue credit or debit cards (only if authorized by RBI)
- Load wallet through cards, net banking, IMPS merchants etc.
- View transaction history, rewards etc.