E-Commerce Purchases Become Mainstream In Urban India
E-Commerce Purchases Become Mainstream In Urban India Anitha Ray Writer at Marvist Consulting and writes about Digital Marketing. In India, e-commerce has turned out to be one of the fastest-growing industries. By 2021, the Indian e-commerce industry size is estimated to touch 5.9 Lakh crore rupees. Interestingly, new trends are emerging within the e- commerce domain. In the urban areas in India, e-commerce purchase is proving to be a mainstream phenomenon. The number of customers shopping through the internet is on the rise. In India, the concept of e-commerce is not new. Some of you may be knowing about the initial domestic players, like Sify Shopping, Yahoo! Shopping and Rediff Shopping. Some of these are in the market since the early 2000s. However, these portals failed to emerge as the leading e-commerce sites in India. How Is The E-Commerce Industry Changing In India? The e-commerce market has drastically evolved in the last decade. With the development of telecom infrastructure in India, customers have a greater access to data packages. Besides, a number of start-up firms are carrying out online business successfully in India. Presently, the leading market players in the e-commerce domain include Amazon, Flipkart and Snapdeal. In 2012-13, the growth rate of Flipkart was 476%. This shows the aggressive nature of the growth of e-commerce companies in India. In the urban areas, the benefit of carrying out e-commerce business is the access to customers. Since the roadways are well-developed, the logistics and shipment partners are able to deliver the products seamlessly. The urban customers, primarily consisting of millennials, are more open to new products, particularly online goods. As a result, e-commerce purchases are becoming mainstream in urban areas. E-commerce companies, too, roll out lucrative deals and discounts to lure the customers. Besides, they recommend products, based on their browsing habits. Technology has greatly fostered the change in the e- commerce segment in India. Growth Of E-Commerce In Indian Cities Apart from the tier I cities, the tier II and III cities have also witnessed the influx of 4G internet. It is expected by 2030, the e- commerce segment will contribute to 2.5% of the Indian GDP. Apart from the domestic companies, global players like Alibaba and Amazon are competing in the market. The urban customers, with the exposure to international brands through these portals, are keen to explore these products. India is a favourite destination for e-commerce companies to flourish due to several reasons. Telecom Infrastructure The number of internet users who use broadband is increasing in India. By the end of 2019, India is likely to have more than over 50 crore internet users. In December 2013, the number of internet users in India crossed 30 crores. Besides, a lot of money was pumped into the telecom sector, so that the customers could enjoy 3G and 4G internet. This has made the urban consumers more connected to the globe. They can purchase goods from the desired brands online and get the products shipped. Growth Of The Mobile Market The smartphone industry in India has grown exponentially, further leveraging e-commerce. It is evident that internet users download e-commerce applications on their handsets. This brings them to a closer proximity to the e-commerce industry. Besides, India is the fastest-growing mobile market in the world. This too, is an important factor, leading to the success of e-commerce companies in India. Presently, established companies are expanding to the digital platforms. The e-commerce companies have tremendous growth potential in India in the coming years. The marketing landscape of companies is rapidly evolving with the inception of e-commerce company in India. About Marvist Marvist Digital Marketing, a 14 years old premium company, has established a special niche for their high-end professional service to the small and medium enterprise market segments in US & UK. Over the years, Marvist served nearly 1000+ medium firms with its expertise and innovative approach that offered true economic value to the customers. Thank you for your time in reading this article!
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