E-commerce In India
Internet is one component which has recently become the key ingredient of quick and rapid lifestyle. Be it for communication or explorations, connecting with people or for official purposes, ‘internet’ has become the central-hub for all. Internet growth has led to a host of new developments, such as decreased margins for companies as consumers turn more and more to the internet to buy goods and demand the best prices. Ecommerce is changing the traditional way of marketing and might soon replace it my majority share. Internet has truly been an effective agent in changing the fundamental ways of doing business.
For developing countries like India, e-commerce offers considerable opportunity. Many sites are now selling a diverse range of products and services from flowers, greeting cards, and movie tickets to groceries, electronic gadgets, and computers.
On the negative side there are many challenges faced by e-commerce sites in India. The relatively small credit card population and lack of uniform credit agencies create a variety of payment challenges unknown in India. Delivery of goods to consumer by couriers and postal services is not very reliable in smaller cities, towns and rural areas. However, many Indian Banks have put the Internet banking facilities. With further improvement in payment and delivery system it is expected that India will soon become a major player in the e-commerce market.
The major players in commerce line for online buying things are snapdeal, flipkart, mytra, jabong and many more.
Flipkart: Flipkart is the major player in India. They deal with online shopping like buying clothes, electronic items and many more. Flipkart has added a prepaid wallet feature to its e-commerce platform that allows shoppers to store money on the site and use it to purchase items, without having to reach for their credit card for each truncation.
Flipkart have followed a particular order lifecycle.
· Attract user to the site
· Provide selection
· Provide details to evaluate a product
· Price well
· Provide convenient payment options (online and cash on delivery)
· Confirm payment.
E-Tailing and digital downloads are expected to grow at a faster rate, while online travel will continue to rule the major proportion of market share. Due to increased e-commerce initiatives and awareness by brands, e-Tailing has experienced decent growth.
As E-commerce in India is at nascent stage but growing at a very high rate , these competition issues may arise in the near future. Credit cards market in India is growing at a fast rate.