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.
According to the Associated Chambers of Commerce and Industry of India (Assocham), the size of the online retail industry is expected to touch Rs.7, 000 crore by 2015, up from Rs.2, 000 crore now, at an annual growth rate of 35 percent.
According to eBay, Indian online shoppers are still brand conscious, even when they are shopping online. The eBay India Census has found that some brands are at the top buyer’s charts such as Sony, Nokia, Samsung, Apple and Reebok.
E-Commerce is a type of virtual industry where the buying and selling of products and services is conducted over electronic systems such as the internet and other computer networks. Basically, it provides a platform to the retailers to display their products virtually for selling in order to increase their overall sale.
Earlier, there were no such concepts for the retailers or for the customers to play with. They were restricted to their physical stores for the purpose of buying and selling but now there are many online websites or we can say virtual websites where they can sell their products and increase their sales.
Now, not only the retailers are playing with their products even the consumers are also playing with their...