It may begun well when King charles I of England introduced postal sevices for the citizens in 1965. At that time there were no stamps and the cost postage was beared by the recipient. Cash on delivery can be said as the moden avatar. It is said cash on delivery is one the reason for the biggest success of e-commerce in India. According to Earnst & Young (Young) Cash on delivery in India accounts for 50% to 80% of online transactions that take place in India. This mode of payment is available in more than 600 cities and towns and it is growing at a rapid pace. (YOUNG, 2014) There are many reasons behind why Cash On Delivery is popular in India. One is that in India Credit card penetration is low. As per former RBI governor D. Subharao said, that” in comaprison to ther emerging markets such as Russia, Mexico …show more content…
Cash On Delivery bridges the gap between online retail and brick-and –mortar retail as it allows the customer now to feel the actual product before they make the final purchase. Cash On Delivery has helped unlock the huge demand. Trust is a driver for Cash On Delivery. Cash On delivery is great marketing stunt as companies have realised that Indians have extreme preference for Cash On Delivery. According to Audit Firm KPMG still accounts for 60% of transactions. As per financial advisory firm Motilal Oswal, “the number of mobile wallet users is estimated to jump five-fold from the current 3 crore to 15 crore by 2019, COD still accounts for 60% of all e-commerce orders”. (KPMG, 2014) These facts shows the importance of Cash On Delivery in India. Whole of ecommerce model can witness a downlfall if Cash On Delivery mode of payment is taken out. Cash On delivery has helped ecommerce grow, but it does have pitfalls. Theses companies are growing at rapid pace, but these companies heavily depend on COD for sales which remains worrisome, particularly since these online firms are still not into
The internet and World Wide Web are extremely well suited for conducting business electronically on a global basic, Web-based Electronic Commerce(EC) has introduced unprecedented opportunities for the marketing of products and services, accompanied by features, functionality and innovative methods to serve and support consumers. E-commerce has became a major catalyst of the economy and remains a vital growth engine for businesses today, It successful change the consumer behavior. Consumer purchases over the Internet continue to grow from year to year. The survey involving interviews with 42,238 people in 37 countries worldwide revealed that almost a quarter of internet users have shopped online and 15% plan to do so during the next six month. This represents an opportunity for FedEx as a provider of small-package delivery service.
In the first six months of 2013, e-commerce revenue in China reached almost RMB 5 trillion, a 45 per cent increase year on year. Payments through mobile dev...
Delivery service increases its brand popularity and gives it the good advantage comparing with others that did not have it.
It is larger than the e-commerce market that commands powerful investment due to the rising numbers of internet users and computer access in the country. If one wants to establish a firm connect between e-commerce and the retail market, then we can say that the retail market is here to stay. As disagreeing with the retail market, e-commerce’s potential landscape is at only about $15 billion now. According to current statistics there are 14 million retail outlets in India, which suggest a demographic distribution of an average of 1000 shops for 11 users. Therefore it is clear and pressing need to build a bridge between the e-commerce and retail section. Latest statistics reveal there are 14 million retail outlets in India, which implies a demographic distribution of an average of 1,000 shops for 11 users. There, therefore, is a clear and pressing need to build a bridge between the e-commerce and retail
We all have to pay, but how the question remains. While online purchasing has become a very popular choice to buy specialty items, as well as our everyday items, some people still prefer to shop at local shops. Whichever way you decide to shop, you must still find a method of payment that is right for you. Two of the most popular forms of payment are cash and credit. Cash payments have been around for many years, and is still a widely accepted and preferred method of payment for many. This form of payment was around long before the others were introduced into our society, which aids in the popularity with our older generations. However, recently the popularity of credit has greatly increased due to several reasons; convenience and the
After being successful in India eBay than introduced the EasyBuy service. It is an official program from eBay. EasyBuy allows Indian buyers to order items from international sellers and get them shipped to their address in India. If a buyer buys a good from eBay they then get it shipped to the address in India, the buyer is personally responsible for shipping, handling and custom duty tax. If the buyers buy the good from eBay India Global EasyBuy then the buyer does not have to worry about the shipping, handling and custom duty tax because the service includes all that. While using EasyBuy service the buyer does not have to go through the hassle involved in international shipping or worry about the pac...
My first reason is that not everyone in the world takes only forms of electronic payment but also in the case of a city-wide emergency where there is no electricity there is no way to pay for items as a time of disaster. That would cause a panic among people who cannot obtain supplies. Some places are not that safe to use your credit card information that contains confidential identity that then it is quite difficult to fix fraud cases. Identity theft is a big issue that is hard to control and many skimmers who are always trying to steal your important information exist. According to article published by Bloomberg that big banks in Sweden are embracing a cashless society.
Since demonetization took off, digital wallet companies have had lot of opportunities to penetrate into market and make India grow at digital life. The digital wallet company also expanded its merchant network by more than 1, 50,000. The company also added over 5 Million new users since demonetization started on November 8, 2016. This is the time, for Digital Wallet Companies to grow further and be the next way of growth because people are moving towards digital life by accessing internet facility to their life. Internet is dynamic in nature because it helps modernize the environment. The users of internet are increasing in India, so the digital wallet companies take an opportunity of demonetization and increase in internet users to grow
From PayPal to Debit cards, from EFT to Credit cards, this modern world has been inundated with new ways of making business transactions. Instead of the conventional use of dollars and nickels, now there are electronic payment systems. These types of systems allow for better trust and acceptance between consumer and businesses. In the traditional way of buying a product, one would see a product in person, and pay for it with cash or credit. In e-commerce, the business uploads images of its products online and it enables its customers to shop it using any type of electronic payment system.
Electronic commerce, more commonly abbreviated as e-commerce, is the action of buying and selling products or services through the medium of electronic information systems such as computer networks - the most common of which being the World Wide Web, or internet (Dorogovtsev & Mendes, 2003). A variety of technologies are used to facilitate e-commerce including electronic funds transfer (EFT) which facilitates the electronic exchange of money, online transaction processing (OTP) which handles the data entry and retrieval for transaction processing and electronic data interchange (EDI) which is responsible for processing orders, warehouse stock control and order tracking (Turban, et al., 2009).
Online retail and shopping sales has been growing consistently every year, not just in the US but worldwide. Not only does online shopping give customers more convenience, more variety, and more discreetness but it also gives customers better prices. While it is quite true that Wal-Mart has product variety and cheap prices – things customers want – the physical stores do not really give the convenience and discreteness that online retail and shopping does.
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
“Digital Commerce: March 2011”, Report provided by Internet and Mobile Association of India and available at http://www.iamai.in/rsh_pay.aspx?rid=0gWlBn0YPIA=
In conclusion, e-commerce makes our life much more easier, because it saves time, we can get our goods with in a short period of time, other than that it connects to businesses around the world, we can buy goods that we can’t get from the local market. The last thing we also can get goods that are not available in the shopping mall and with the cheaper price. As I know, using e-commerce to shop online is the right choice for because it is so convenient.
The high take-up of the Internet leads to variety of opportunities in front of companies. People are more online than ever. They spend many hours each day on Social Networks such as Facebook and Google+. It is no wonder that buying and selling can now be done in a more convenient way. Although traditional shopping is still thriving, online shopping can be an alternative for people wanting to save time and money. If a certain customer plan to go shopping, it could be stressful and also be time consuming. E-business has made shopping or any kind of transactions online much easier and convenient. It introduces new facilities, opportunities and way of shopping for both vendors and customers.