Significance of E-commerce in the present scenario

Today, the access of the internet is not limited to cities, but also it is used in large number in rural areas, mainly because of the low-cost data pack, cheapest price of the smartphone, internet awareness and many govt. initiatives like digital India. These all are playing important roles to spread the internet all over India. As per the internet and mobile association of India & market research from IMRB, the number of mobile internet users in India is estimated to reach around 420 million by the year 2017. As per the reports of mobile internet in India 2016, there were more than 389 million mobile internet users in India on Dec 2016.

The scenario of online shopping in India has become more advanced and has changed significantly. Now, we all are seeing that the online shopping has become a trend in India, and the reason behind this is various deals & discounts, coupons, offers, referral system, 30 days return guarantee, 1-7 days delivery time, quality product, etc. Today, there are many online shopping platforms that offer their services to Indian customers. The increasing demand for e-commerce at an unprecedented rate adds around 6 million new entrants every month; the rise of e-commerce is at a new inflection point. Being a developing country, India has shown an increase in the e-commerce sector in the last few years, hitting the market with a boom.

Let us look at some of the major points that will help to describe the present scenario of the e-commerce industry as:

·         Changing the game

The Indian e-commerce industry has evolved over the period of time with the innovations which have drastically changed the rules of the game globally. Cash on delivery is one such example of that unit. At present, COD is the preferred payment mode for close to 55-60% of all online transactions in the fashion and lifestyle segment in India.

·         Delivering experience

The e-commerce solutions need to focus on the customer's experience as the means to build trust and confidence. The customer's experience encompasses every interaction that a customer has with your service from placing an order to interacting with your customer's service team, to the actual delivery experience. Providing a great delivery experience is one of the major aspects of delighting your customers.

·         Growing the base

Online shopping has seen a lot of transaction in the last 12-18 months. India has almost 130 million online users at present, out of which more than 10% are doing online transactions. The online user base is expected to cross 300 million in the next 2-3 years and the larger % of people are expected to transact online by the year 2025.

·         Growing opportunities

Cities beyond metros are in the limelight for all good reason. With the metro markets reaching saturation, believing that tier 2 and 3 cities are going to be the biggest drivers for e-commerce organizations in India. The building a robust supply chain is complex co-efficiently fulfills the order from the cities and tapping their full market potential.

Conclusion

The e-commerce development industry is growing at rapid race and changing the dynamics of the retail industry. In the coming years, e-commerce is expected to contribute close to 8-10% of the total retail segment in India.

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