The Growth Of E-Commerce

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E-Commerce or Electronic commerce is the trading of services and goods using the internet as the medium for communication. There are various advancements in technologies like mobiles, laptops etc which facilitate the working of this sector. Various technologies used are mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems and automated data collection systems. E-Commerce websites usually use the world wide web for advertisements, transactions and employ engineers, management, logistics, administrative jobs for smooth functioning. E-commerce users come from social media marketing and SEO.E-Commerce usually does either…show more content…
Transactions could be done anytime and from anywhere with the only requirement being the availability of Internet. Delivery at doorsteps, payment procedures using COD, Internet Banking, Cards etc. By using these ways, consumer effort has been reduced and cost is minimally affected which contributes to the increasing market of E-commerce. Growth of E-Commerce sector also improves the market possibilities and results in emergence of various other sectors as well. For example, Banking, Logistics etc. India is quite a big market for E-commerce sector which is growing at quite a fast pace. There are many start-ups in Ecommerce sector. Since India is a place with variety of cultures and practices, large amount of opportunities appear here for expansion of the market. The explosive increase in popularity and availability of mobile devices combined with internet access via affordable broadband solutions and mobile data is a key factor driving the tremendous growth in India’s e-commerce sector. The Digital India initiative, by the Government of India, boosts the market possibilities of E-Commerce in…show more content…
A significant and fast growing internet population of India (as observed in the IT Sector study), is an indicator of this sector’s huge growth potential in India. But still, approximately, the Internet penetration in India is 19% as of December 2014 (Internet Live Stats) which is low and more internet penetration will result in a better market for e-commerce in India. The analysis of the Demographic profile of Users in India also indicates that the Ecommerce sector in India will rise rapidly. About 75% of users fall in the category of 15-34 year olds. Peer pressure, rising aspirations with career growth, fashion and trends encourage this segment to shop more than any other category and India, therefore, clearly indicates the growth of Ecommerce. The new Government was introduced in 2014, significantly improving the business confidence. Investors have funded the Ecommerce sector in India due to strong growth prospects. It is estimated that the Ecommerce business will continue attracting the investors in future. Startups have also attracted investors. Many famous examples could be quoted such as, flipkart, snapdeal.com, housing.com, zomato

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