The Growth of E-commerce in India

2915 Words6 Pages

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.

Ac...

... middle of paper ...

...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.

More about The Growth of E-commerce in India

Open Document