The rapid pace of technological innovation and their direct and indirect impact on us, giving birth to new socio-economic equations and conditions at a rate that is faster than ever recorded in the history of human evolution before.
The overall market of e-commerce in India is expected to grow by $200 billion till 2020.
In terms of technology and communication, while humans journey from telephone to fax took over seven decades, we moved from the first generation mainframe computers to Personal Computer(PC) in only about 2 decades.
Electronic communication devices like pagers, gramophone etc are things of the past today. So, for all practical purposes, are even land-line phones. All gone.
Gone also are the days when one would have go out to a store to buy something.
Today is the day and age of tablets and smart phones. Today is the day of e-commerce and shopping cart software. Customers have multiple reliable options to shop from, so why stepping out and invest your precious time in shopping, if you can shop everything from your device.
When you are purchasing anything online, then you are participating in e-commerce. Some of the highly discussed advantages of e-commerce are listed below-
E-commerce can take place anywhere, anytime. Yes, E-commerce has broken all the barriers of time and distance and made shopping possible anywhere, anytime. E-commerce can take place 24 hours a day, 7 days a week.
Customer has hundreds and thousandths of options for single product. What they have to do is, select.
Secondary options for small sellers
Flooding new shopping e-commerce sites not only gives customers multiple options to select, but it also gives an opportunity to small sellers to sell their goods by collaborating with these e-commerce sites.
Sites like shop clues, flipkart etc are facilitating sellers the option to sell with them.
Easy payment and return
Commercial e-commerce sites not only provide numerous options to the customers but also providing excellent service. Punctual delivery and easy return are major factors which are considered. In the present competitive world, if you want to stay in the market then apart from providing good quality and cheaper products, you also have to keep yourself updated for providing an excellent service.
Punctual delivery of goods and easy return policy are the result of flooding of e-commerce sites in the market.
People don’t have enough time to step out for shopping so they prefer going online to purchase goods and services as well. India’s population is mainly consisting of youths, and youth is all about smart phones and internet. That’s the major reason for such rapid growth of e-commerce.
People have become internet friendly these days, that’s why e-commerce sites are becoming a comfortable option for the people. Survey shows that almost 75 million household are ready for e-commerce in India. That’s huge and also enough for any good online site to be flourished.
Sectors like travelling and retail have already proved to be successful in the field of e-commerce. These sectors have already made a lot of profit through e-commerce market. The success of these sectors has incited other sectors to enter the huge market of e-commerce and precisely this could be one of the major reasons behind rapid expansion of e-commerce market in India.
Vaishnavi Agrawal loves pursuing excellence through writing and have a passion for technology. Her work has been published on various sites related to Data Science, Hadoop, Big Data, Business Intelligence, Project Management, Cloud Computing, IT, SAP, Project Management and more. If you would like to write for us, join eSoftload Community.