Tuesday, 8 October 2019

E-Commerce in the Retail Market in India

E-Commerce in the Retail Market in India


Ecommerce
Electronic Commerce (EC) is possibly the most promising application of Information Technology seen in recent years. It is revolutionizing supply-chain management and has great potential for manufacturing, Retail and service operations. Its impact is most visible in the financial services and Retailing sectors. Many initiatives of Electronic Commerce have gained momentum over a period of time. Those initiatives include Electronic Commerce easy payment and electronic checking, online trading of stocks, bonds, and related financial instruments, online banking and innovative smart cards to facilitate online Retailing (e-tailing).


We are now getting comfortable with the Internet, and we are beginning to appreciate its ability to provide diverse Information from around the world, literally millions of sites just a click away, opening up new opportunities for business and Information exchange. . Internet usage is no longer a novelty, it is becoming as much a part of our daily lives as television and telephony. We have seen a true revolution with the growth of internet and internet usage, but now we are facing a second internet revolution and it is called electronic commerce. The tools and Technologies to enable trading on the Internet are maturing, and EC is growing very rapidly.


Retail market in india
Retail sales are not only an important aspect of the economic structure, but also a part of our lives. Its current contribution, which is 10% of the country's GDP, proves its importance for the growth of the country's GDP. Now for centuries, India has been operating under its unique concept of Retailing. In the   Retail, there is a business that guides its marketing effort towards ultimate consumer satisfaction based primarily on the organization of selling goods and services as a method of delivery and delivery.


It is certain and certain that India will be the destination for Retail sales as the purchasing power of the current Indian middle class is growing at a rapid pace. Rural India can be considered the heartland of Retailing.


Retail companies in India are growing significantly year after year. And, they have brought a significant change in the shopping attitude of the Indian customer. Several major international Retail enterprises such as TESCO, METRO AG, Wal-Mart have already identified the scope of development in the Indian Retail industry.


As India is the second fastest growing economy in the world, it provides a plethora of opportunities and a growing scope for the Indian Retail market. Investors have great investment options in the Indian Retail segment and allied sectors. India has the largest store compactness in the entire world.


The e-commerce and Retail industry will be driven by mobile commerce. Marketers find this a good opportunity and are already on track to track customers.

The presence of Omnichannel will play it to capture the activities of the customers in every possible way.
Since the Retail industry dynamic and the changing buying behavior of the customer have changed dramatically: they enter a store, compare prices on smartphones, review and search for similar products, buy products online and delivered on the same day.


A recent McKinsey survey of digital shoppers highlights how mobile Technology can complement the in-store experience; For example, about half of consumers who do research on their mobile phones have done so while in-store, and half say they are open to the idea of ​​in-store mobile payments.


Customers want a seamless experience across all channels. They want whatever they want, from any e-commerce store at any time, and they want it to be almost free. As this trend is increasing, Retailers are investing in omni channel Technologies, which is the best option for them as per the time requirement.


The smart phone is with them 24 * 7. The day is not far when the model of brick and mortar will be extinct.
Industry experts predict that Retail will change completely in the next five years. This is a major inevitable change in the Retail industry and Retailers must act now to win in the long run.


Advantages of E-Commerce in the Retail Market
#Just a Click Away
#Time Saving
#Money Saving
#24 * 7 Shop is Open
#Home Delivery


Benefits for Consumers
#Established more trust in the product and company
#Gives Consumers a voice
#More Interaction on the App / Blog / Website
#The e-Commerce and Retail industry will go hand in hand in Coming Years.


Ratings and Reviews 
When it comes to online ratings and reviews, everyone benefits.
They have the ability to enhance merchant credibility, improve comparison shopping rankings, and raise conversion rates.
They can increase customer engagement and monitor customer service efforts.
Ratings and Reviews can achieve all of this and more through the power of word of mouth marketing.


FAQ's
How E-Commerce websites like Flipkart, Myntra, Jabong, Snapdeal, Shimply earn?
Where do Indian e-commerce companies like Flipkart, Jabong buy from?
How do online shopping websites like Flipkart, etc., buy products and then sell to us?
What is the business model used by e-commerce giants like Amazon, Flipkart, eBay and Snapdeal in India?
How do online  E-Commerce  Retail  App / Website Work?

Is e-commerce profitable now?
How do I make money in e-Commerce?
Do E-commerce sites in India make money?
What are the most profitable E-Commerce sites right now?
Which is your favorite e-commerce website? Why?

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