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Growth of e-commerce in India

Global e-commerce is forecast to double to $ 4.1 trillion in 2020, from $ 1.9 trillion in 2016, as consumers in populous countries like India and China prefer to shop online to avoid crowded malls. Online shopping has made significant progress in India’s retail division, signaling a shift in the way shoppers transact.

The online shopping industry has progressed dramatically in recent years, remarkably ending up as a conventional line of business. Electronic shopping has been supported by the accelerated development of affordable web costs and broadband infiltration combined with the buyer’s recognition of e-commerce as a suitable and secure alternative to conventional retail.

In recent years, India has become the fastest developing economy on the planet. According to monetary analysts, India is the only nation that can cope with the growing economic expansion of the mighty dragon China.

According to CSO (Central Statistical Organization) and IMF (International Monitoring Fund), all possible businesses will see significant growth in the coming years, including e-commerce sectors in India. Since the rapid growth of smartphones and internet connectivity across the country drives users to buy and sell basic products for their convenience and mobility.

Many nations are working to improve and grow their e-commerce market like India. In fact, India’s current e-commerce value of $ 16 billion is predicted to exceed $ 100 billion by 2020. The researcher estimated that the e-commerce market in India will grow faster within the region. from Asia and the Pacific that China will take over for years to come.

What sells the most?

Online retail has advanced 57 percent after December 2014 and 60-70 percent of total e-commerce sales are made from portable devices such as mobile phones, tablets, phablets, etc. Before investing in e-commerce businesses, the investor must know what people are looking for and buying in the market.

The report describes that 48 percent of shoppers have searched for information online in the categories of appeals, footwear and mobile devices. However, eighteen percent of them bought offline. Additionally, 76 percent of shoppers still prefer to pay in cash. The online retailer hopes to fight COD by introducing easy EMI and an additional discount for online payments.

Electronics and fashion items account for about 49 percent of total e-tail spend. This singular section was expected to reach Rs 110,620 crore by the end of 2017. If we look back, we apparently see that offline sellers as shopper stop have, in fact, started their personal online platforms to sustain this massive expansion in line of e-commerce giants. like Flipkart, Amazon, etc.

E-commerce is bringing new business possibilities to global travel in the tourism business. Tourism-related organizations and Internet companies seek to tap into the potential market. With the Indian smartphone, the business has increased by 100 percent in 2015, hotel bookings and the tourism sector also saw unprecedented growth of more than 170 percent. The Federation of Hotels and Restaurants Association of India estimates that the way the hotel industry is growing, to successfully satisfy the customer, India needs another 1.8 billion rooms by 2020.

In conclusion, we can say that due to the growing awareness among buyers about product quality, differences in buyer attitude and buying rules, it is suspected that the Indian e-commerce store will grow at a tremendous rate until 2020. Growing number of high-speed Internet Users urges businesses to innovate and offer a diversified collection of commodities and services online. In recent years, with the remarkable development of payment manufacturing in the e-commerce market, consumers are increasingly turning to online shopping and destroying their idea that the online market is unsafe. Consumer electronics, travel, and online apparel and accessories are the section of the market showing encouraging growth. With the advantage of same-day shipping, online supermarket stores are also entering the country’s online space.

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