When was the last time you bought books from a bookstore instead of getting them from Flipkart.com? Or your handbag from a shop instead of having it shipped from bagskart? Yes, the electronic-media retail pandemic is catching up in India too, and why not, online stores offer a greater variety of merchandise and deliver the order at your doorstep.
E-commerce refers to the business transactions conducted electronically on the internet. In the past couple of years, India has seen enormous growth in e-commerce which still continues unabated. Forrester, a leading global research and advisory firm reports in their ‘Asia Pacific Online Retail Forecast, 2011 to 2016’ that e-commerce market in India is set to grow at a rate of over 57% within the span of five years.
The ever increasing popularity of internet retailing can be attributed to the demand and appetite of Indian consumers and the willingness of investors to invest in the media. The push-of-a-button order system of e-commerce seems most convenient for today’s crowd since it saves a lot of time. E-commerce gives a chance to all companies, big or small, to go beyond the geographical boundaries and reach the global market. The 24×7 business transaction rule also escalates sales and profits for the online retailers. For the consumers, e-commerce provides a panorama of things to choose from in the comfort of their homes and the price is often cheaper than the outdoor market.
Sadly enough, this revolutionary trend in commerce is not accessible to the entire country as there are still places which do not have proper unperturbed access to the internet. But that problem is expected to be overcome soon considering the continuous advancement in technology. Besides the exclusively-online stores like Myntra , Urbantouch, Snapdeal, and eBay, other retailers like Shopper’s Stop with outlets around the country are also setting up e-commerce websites because of their popularity. It’s like they say on the new Google chrome advertisement – “the web is what you make of it”, the e-commerce trend is a satisfying and assuring example of mankind’s progress.