The eCommerce in India is growing fast recording some noteworthy developments almost each day. As per a survey conducted in Delhi, Chennai, Bangalore, Ahmedabad, Kolkata and Mumbai involving over 3500 online retailers reported that high online discounts, variety of payment options such as Cash on Delivery, increase in petrol prices and choice of options online made a significant impact to the overall eCommerce turnover in 2013.
Currently, the eCommerce market in India is dominated by the online travel industry with over 78 percent market share while online retail of goods and products enjoys 6.48% market share.
On the other hand, retailers will have option to use readymade s-a-a-s ecommerce platforms to build their ecommerce sites. Another big challenge for eCommerce industry is the availability of reliable logistics service providers. Logistics service providers are primarily serving metros and tier 1 cities, whereas the real eCommerce takes place in tier 2 and rural India.
There will be ample number of digital marketing companies that will help retailers promote their ecommerce site on internet. Such promotion may include SEO, SEM, SMO. Thus, availability and affordability of technology for building and running ecommerce business will not be a big problem for retailers and manufacturers.
Even though there are still a lot of people who are timid when it comes to shopping online, the eCommerce is India is still expected to growth substantially. According to the survey published in The Economic Times, India’s e-commerce market, which stood at $2.5 billion in 2009, reached $8.5 billion in 2012 and rose 88 per cent to touch $16 billion in 2013. The survey estimates the country’s e-commerce market to reach $56 billion by 2023, driven by rising online retail. Since people cannot only shop through computers but also using mobile phones, more people are hop into the online shopping bandwagon. The future of eCommerce in India appears to be a promising one due to the increasing number of people who are embracing modern technology.
The future prospect of E-commerce in India certainly depends on these factors.
Good Domain registrations & Web Hosting Company
Increasing broadband Internet (growing at 20% MoM) and 3G penetration.
Evolution of the online marketplace model with sites like ebay, Infibeam, and Tradus
Web Design & E-Commerce Software solution Company
Rising internet users
Awareness about internet even in rural areas
Better price Paytment gateway charge
Mobile internet speed – 3G Speed & Price
Overcomming fear of Fraud or better charge back policy
Good Customer Service
With recent studies showing that the Ecommerce in India is going to reach new peaks in a few years, new ventures and buyers are going to be vital in proving these stats right. A huge factor supporting the Ecommerce is the kind of ease it gives to both buyers and sellers is unmatched. If you have what the world wants, setup a website, display your products/skills and see your bank balance grow. The kind of success stories about internet startups has created a stir within the nation and many have begun to show a faith in the Ecommerce industry. It won’t be long till we see a sharp change in the way people shop.