Growth of eCommerce in India
India, emerging economic superpower and the third largest internet market in term of users, has opened up huge opportunities for the growth of eCommerce. The country has seen a great transformation in this market with the increasing number of internet users. eCommerce is growing at a fast track rate whereas the Internet and Mobile Association of India (IMAI) expects e-commerce to grow double this year 2012. Further, the new trends coupled with changes in urban lifestyle is fueling the growth of e-Commerce in India.
More and more organizations in India are joining the digital market bandwagon these days. The rising literacy rate and huge adoption of internet in India has tremendously raised the growth of e-Commerce. And, with the much westernized generation exploring the new potentials and prospects, a huge success rate of e-commerce industry has caught up.
E-commerce is probably the best thing that has happened to the changing middle class population with higher aspiration and lesser time. As a business model too, it appeals both the value-minded Indian consumer as well as Small business owners. Around the world, eCommerce has brought in bargain hunting - which is quite beneficial for the middle-classes. The huge adoption rate of Flipkart and Snapdeal have proved that e-commerce in India will go a long way.
Presently, shoppers in metropolitan India are driving eCommerce. These consumers are primarily buying consumer electronics and books online. But, if you look at business transactions, it’s the online ticket booking, which is leading the eCommerce adoption. However, other segments such as matrimonial, classifieds, jobs all are making good progress.
Given the market scenario, there has been a steady rise in the number of companies opting for eCommerce in recent years. Major portals are shifting towards e-commerce instead of relying on online advertising. And the list covers a wide array of products and services ranging from movie tickets and flowers to electronics and insurance. Thus, e-commerce India is invariably growing and is a boon to consumers, eBusiness individuals, online marketers and retailers.
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