Buying products online on e-commerce websites is nowadays quite common. Online shopping and e-commerce activities have seen explosive growth in the last 5 years. With smartphone and tablet computers flooding the market, there is a significant rise in the number of Internet users. This has in turn influenced the Indian e-commerce industry as every month almost 6 million new users are entering the market. However, e-commerce was first publicly launched in the late 1990s. But during the first several years there was hardly any response from the general public. The first major success for e-commerce in India was when State-owned agency IRCTC launched its online railway ticketing system.
It was followed by online air ticketing, hotel booking, and other travel-related services. Even today the majority of the e-commerce sector consists of travel-related services. But the actual period of growth began after the launch of Flipkart, which went on to become the largest Indian e-commerce company. With large discounts on a variety of products, it really launched the practice of Online shopping in India. Due to its population and a large number of internet users, India was perceived as a great potential market and global e-commerce giant Amazon entered the market in 2013 and is currently in competition with the Indian companies. Another important player is Snapdeal which offers online retail, daily offers, etc.
Those who are into buying clothes and fashion accessories often favor Jabong. Another popular site for fashion and lifestyle products is Myntra which was recently acquired by Flipkart. Among the fastest-growing e-commerce companies is Paytm. It started as an e-commerce site for recharging mobile phone accounts and paying bills. But with its growing popularity, the site is now selling a lot of items including electronic goods at heavily discounted prices.
Some of the major factors that are driving the Indian e-commerce industry are as follows:-
- An increasing number of broadband Internet users and 3G mobile service penetrations! 4G service is also being introduced.
- The standard of living has improved in many urban areas leading to a growing demand for quality products.
- E-commerce makes the available product range much wider.
- Due to a busy lifestyle, many people face a lack of time. For them for online shopping is very convenient.
- With the widespread reach of Social media, e-commerce sites are able to connect directly with their customers.
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