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.
This is an opportunity to reach a large demographic and expand into emerging technological markets. As more consumers move to e-commerce and their main shopping venue, the need to manage high cost, larger retail stores dimensions. The money saved in operating costs can be allocated elsewhere.
Online platform owners and big retailers: India Bazaar faces tough competition from big retailers like Walmart, Loblaw’s and local Indian grocery shops located in Surrey region. Although the development of online platforms for grocery sales provides an opportunity to retailers, it possesses a threat to traditional grocers like India Bazaar. These grocers face competition from traditional online stores like Amazon.com Inc. (AMZN), which are expanding their presence in the still-nascent
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.
However, in the long run it’ll be a different story as E commerce in India has just reached less than 1/10th of its potential. Out of 120 Crore Indian population not more than 1.5 crores use E Commerce frequently. Looking at burgeoning internet users the market should reach at least 15 ...
Even in 100 years from now, people would still be going to buy clothes. Therefore, FashionValet will remain relevant as long as customers still shop online and fashion designers still trust FashionValet to do a good job of representing them. In the near future, FashionValet hints on more collaboration with celebrities and designers coming up, as well as an expansion to the next Asian country, Thailand. They will use a similar strategy for Indonesia that has been showing good results, especially in terms of brand acquisition. FashionValet will start sourcing for new brands and get to know the Thailand market
As per a survey conducted recently, Indian e-Commerce is emerging as the biggest B2C marketplace of Asia and by 2020, it is likely to appear as
A relatively new development has been the introduction of Internet-based retailing. It is estimated that online sales have tripled between 1997 and 1998, reaching roughly nine billion dollars. With the growing number of households joining the Web each day, projections indicate no signs of slowing down anytime soon (Anonymous, Aug 1999). Interactive retailing can prove to be a real threat to existing businesses. A recent article by Bob Woods discussed a report from Jupiter Communications LLC which “claims that most of the growth will come at the expense of traditional retailing” (Aug 13, 1999, p. 11). The report goes on to state that a large part of Internet sales is not growth, but a shift in dollars from traditional retail channels. In order to regain lost sales, many brick-and-mortar outlets have ventured into the World Wide Web.
The retail industry has experienced doom and gloom since last few decades. Digital retail Renaissance is on its way, transforming the retail world linking consumer, device and data generating a smarter shopping experience. With the perfect combination of smart in-store and online outlet, retailers can enjoy a profitable commercial future in the long run.
The fourth largest sector in the Indian economy is all set for 16% growth during 2008-09, from a base of Rs. 85470 crores, as predicted by FICCI. Going forward, as anticipated by CRISIL, FMCG sector will touch around Rs. 140000 crores by 2015 (33.4B$).
“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=
Scope of e-business growth: There is a huge scope for e-business especially for Textile products and day by day modern technology fulfilling the need base requirement for the growth of e Textile business. Every day there are new designs are entering in market and e-commerce is an area where anybody can promote new designs with proper way of understanding.
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.
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
The Information revolution is changing our daily lives. With the rapid development of computer and internet, online commerce become quite common and plays an important role in the modern world. The online business has booming development in these few years. US online retail sales raised an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may due to the growing number of consumers who shop online. In the case of Asia, survey reported 77.6% of Internet users have online shopping experiences in 2003 (as cited in To, Liao & Lin, 2007). Online shopping is very different from traditional shopping. Consumers cannot touch and check the product before purchasing it, which means they are at higher risk of fraud than traditional shopping. Consumers also have other concerns such as credit cards security of online shopping. Then questions should be raised: what is the advantage of online shopping? Why people shop online? In following paragraphs, the advantage of online shopping for the consumer and consumer’s motivation to shop online will be reviewed and discussed.
The development of E-commerce have revolutionised the manner in which consumers purchase. E-commerce has helped businesses to grow and expand beyond geographical boundaries and cater to the needs of consumers located anywhere across the globe. India, being a developing nation was expected to respond slowly and with less enthusiasm towards the development and implementation of E-commerce. E-commerce started to become popular only after 2005. It began as a system where businesses could interact with suppliers and place orders. However as the system gained immense popularity and success, it was soon implemented for placing selling goods and services to consumers. Since then the online retail industry in India has been growing rapidly (Malhotra, 2000). The system has become so widely popular, that in many large cities and urban locations, consumers prefer to purchase largely through online shopping rather than physically visiting stores. E-commerce facilitates consumers to purchase products from any place through suitable internet connectivity. The popularity of E-commerce over the last few years and its wide adoptions led retailers to launch specialised Smartphone applications through which consumers could easily shop. Many claim that the success of E-commerce mainly arises out of the popularity of Smartphones. E-commerce is particularity gaining popularity in the semi urban and rural regions of India. Due to lack of infrastructural development there exists a dearth of shopping malls and retail stores in the rural and semi urban regions of the nation (Tse and Soufani, 2003). Hence individuals living in such regions find it easier to shop through E-commerce platforms. They are therefore able to procure branded