BRIEF BACKGROUND
If the Internet is anything to go by, the technological and the economic growth of India is moving into the top gear. With an increase in the online shopping registering in India, a 100 percent annual growth, most of the retail chains and consumer durable companies are joining the virtual world to tap the E shopping market.
"The online shopping industry of India is now fast catching on, not only in the larger metro cities but also in the smaller cities. At present the market is estimated at Rs.46, 000 crore and it is growing at 100 % per year.
Total Unique Visitors(000) % Reach
Total internet: Total Audience 46,390 100.0%
Retail 27,171 58.6%
Amazon sites 6,805 14.7%
Apple.com Worldwide Sites 3,426 7.4%
Samsung Group 2,759 5.9%
Flipkart.com 2,675 5.8%
Homeshop18.com 2,286 4.9%
Naaptol.com 2,145 4.6%
Bookmyshow.com 2,125 4.6%
Myntra.com 2,110 4.5%
Priceindia.com 2,047 4.4%
Alibaba.com corporation 1,973 4.3%
E-Commerce has become very popular. Every retailer wants to become an E-retailer and want to be a part of the E-world.
Earlier, there were no such concepts of retailing. Michael Aldrich invented online shopping in 1979.
Now many brick retailers are also moving towards the online shopping because of the immense scope in the virtual world.
According to Google, India have more than 100 million Internet users, in which, around half are going for online purchases and the number is growing every year. With such a huge market size, companies, right from the retail shops to consumer durables, are entering into the Web world to attract potential customers.
Even the traditional retailers like Shoppers Stop, Westside and Pantaloons are looking at an online shopping space for growth.
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...od and bright, promising future as Organized retail is a new experience in India and despite the downturns, the market is growing exponentially well, as economic growth brings more of India’s population into the consuming classes and organized retail is bringing more and more existing shoppers into its open doors. By 2015, more than 300 million shoppers are likely to support organized retail chains. The growing middle class is also an important factor contributing to the growth of retail industry in India. By 2030, it is estimated that 91 million households will be ‘middle class’, up from 21 million today. Also by 2030, 570 million people are expected to move in cities, nearly twice the population of the United States today.
The apparel category is the major growing category among all the categories in the online business and will grow immensely in the future.
The growing popularity of online retailing is attracting competition from traditional and online multi-retailers such as Wal-Mart and Amazon which are gaining considerable market shares in many of the product segments included in the specialty retail sector.
“The retail landscape has shifted toward e-commerce, but there are opportunities for department stores to capitalize
As retail stores such as JC Penney and Macy’s are closing many of their stores and focusing more on their online presence, the digital marketing industry is filled promise of a bright future full of growth.
Print Mishra, Sita, and Mathew, Priya. " Analyzing Perceived Risks and Website Attributes in E-Retailing: A Study from India. " Journal of Internet Banking & Commerce 18.2 (2013). Print Musgrave, E. Targeting India, the next big thing? Drapers.
The short-term outlook for the Australian fashion retail industry is continued disruption by new technologies and innovative competition. There will be no single formula for success. Traditional retailers must look to unlock the physical store as a formidable weapon to fight the onslaught of online retail and northern hemisphere retailers. Continued growth in online retail and loss of market share to northern hemisphere retailers will lead to further rationalisation in the Australian retail sector. The big will get bigger, with smaller niche players at the other end of the spectrum.
Based on these concerns, retailers in the international marketplace have their work cut out for them. But through proper education of consumers, and the ever-expanding growth of the infrastructure in many countries, the future seems to be leaning heavily towards using the Internet for many needs.
Study by (central university , J& K ) states that the increasing use of internet by the younger generation in india provides an emerging prospects of online retailers. (The mobile consumer : global snapshot 2013 ) as per Mobile is the next media power
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
In today’s market, e-commerce websites are growing at very fast pace, helping online consumers to shop at ease and achieve their goals in their everyday lives. Most of these websites are designed to provide the basis of business services such as online business transactions but do not make purchasing easy for customers.
2. Organized Retail: The emergence of organized retail have lead to more variety with ease in browsing, opportunity to compare with different products in a category, one stop destination (entertainment, food and shopping) etc, which is playing an important role in bringing boom in the Indian FMCG market. Currently the modern trade is capturing 5% of the total retail space, which will increase to 10% and 25% in 2010 and 2025 respectively. Also, as the credit card and organized retail trend picks up, people won’t think much while buying and buy more.
The Internet is rapidly becoming widespread and widely used as a tool for globalization across the world. As the Internet became more easily accessible by most people in the world, the web is bringing significant implications and changes to the way we live, including the way we shop. There is a rapid growth with e-commerce and moving businesses onto the web and retail success is no longer about stores and shopping centers. In developed countries, about two thirds of the population have access to the Internet making the option of online shopping is easily accessible to most people (Valerio). With the ease of shopping in your own home there are many benefits of doing your shopping online. Consumers can easily compare prices online, there is a larger range of products on the web, you can save time by having your shopping delivered right to your doorstep and it also overcomes physical barriers. Over the last decade online shopping has challenged and replaced the traditional means of physically going into shops as the digital world has provided customers with further convenience, flexibility and comfort from shopping from your own home.
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.
In today’s era “INTERNET” is playing a significant role in our daily life. People can walk through the internet to one who is actually living on the different side of the planet, can send mails round the clock, search information & even buy things online. With this invention of internet there is a shift in traditional way of shopping. Now there is no need to open a physical store. One can be active at any time and place and purchase products and services. The number of users of internet is increasing day by day which means that online shopping is increasing. Various characteristics of online shopping is making it more convenient for the customers, as compared to traditional way of shopping such as the ability to view and purchase goods and
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=