Electronic Commerce and Socio-economical Development

830 Words4 Pages
Over the last few decades information and communication technology have become a great platform for e-commerce and social-economical development. The rise of internet in the mid-1990 was the first step of the growth of e-commerce. Internet and Information technology both is the main game changer for the entire growth in E-commerce sector. The growth of e-commerce has made many people life very easy. The emerge and growth of e-commerce can be seen all over the world and basically in India. E-commerce industry has boomed and evolved over a period of time with more and more innovations that have changed the face of India. In last couple of years, the growth of e-commerce industry in India has been a phenomenal growth as the one-line shoppers has started recognizing and discovering the benefits by using this platform. It was in mid-2000 where in the dot com bubble started to form and busted the e-commerce industry in India and from there it started to take off. The very first e-commerce services started and was to available and mainly offered in travel industry. The online booking of air tickets with low cost carrier airlines made a huge business and even today all the travel industries work on this basis and the travel industries hold a majority share of the Indian e-commerce space. Psychographic Segmentation divides the market into many groups based on the social class, personality characteristics and the lifestyle. It is based on the assumptions that the product and the brands that an individual purchase will reflect that person characteristic and the way or patterns of living. Psychographic factors are classified on the Social class, personality and the lifestyle on which the person holds. In social class the social grads is foll... ... middle of paper ... ...tive payment option of cash on delivery. This innovative option has become the huge hit in India and the company took tremendous growth in the e-commerce business. Flipkart is the only one to start the innovative option “Cash on Delivery”. Once the product is selected to buy you just need to select the product and make an order to get the product. Once the order is placed the product will be delivered to your place and once you receive the product for which you ordered for you can make the payment on that time itself. It is called as cash on delivery. And if the product doesn’t like you can also return the product i.e 30-days replacement policy. So with the help of such online portal we can understand a make an idea of e-commerce business and how the business grows rapidly in such sectors. This is how now-a-days online business is taking a boom in e-commerce sector.

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