E-Commerce Witnessing a Big Boom in Foreign Markets, Especially India

Online Shopping In India Witnessing a Big Boom

Ladies and gentlemen, it’s time to fill up your virtual carts, since the future of shopping is online!! From being adjudged as a passing fad to becoming a large revenue generating industry, online shopping in India has come a long way. Analysts at Assocham have estimated that the e-commerce market in the country grew by a whopping 88% in the last year. The turnover figures reached $16 billion in 2013, a massive rise from $8.5 billion in 2012. Clearly indicating that the convenient option has caught the imagination of not only the tech-savvy generation-Y, but also their parents and grandparents. Whether you want to book movie tickets or find your mate through a matrimonial site, everything has shifted online.

E-commerce rise in India

In fact, virtual shopping has completely transformed the buying behavior of consumers by enabling them to summon goods at their doorsteps with the simple click of a mouse. Online shopping in India is becoming all the more popular as buyers are no more concerned about internet based transactions and do not find them risky. With the advent of innovative payment options like cash on delivery and easy monthly installments, consumers have accepted these shopping websites as reliable and suitable options for shopping. These e-portals have also evolved enormously to make the shoppers feel comfortable through incentives such as 24×7 customer care, same day delivery, festive discounts, freebies, combo deals etc. You can also track your order and coordinate with the shipping company to understand the date and time of delivery. Consequently, buyers have now wholeheartedly acknowledged online shopping in India and more and more websites are burgeoning the market to find their specific target audience.

Indian E-commerce on the riseWith high disposable incomes, metros like Mumbai, Delhi, Chennai, Bangalore, Kolkata, Ahmedabad, Chandigarh, Ludhiana, Lucknow and Jaipur have become the top cities to shop online. According to a survey by Assocham, e-shopping is on the rise during the festive season and the most bought product categories during this period include mobile phones, tablets, home appliances, electronics, apparels, jewellery, furnishings and more. However, trade experts believe that this is just the beginning of e-commerce in India. With increasing penetration of the internet, laptops, smartphones and tablets in the smaller cities, this industry is going to grow immeasurably in the coming years. The same study by Assocham has predicted that online shopping in India will reach 7,000 crore by 2015.

Thus, it is quite evident that busy lifestyles, high standard of living of the middle class, wider choices online, and attractive deals have all contributed to the recent boom in online shopping and will continue to do so in the future.

Posted on by Christopher Cao