In recent times, the technological advancements have paved the way for effortless work process, which have simultaneously simplified the private as well as business tasks. Now, various companies are attracting the large number of Indian customers in e-commerce industries. In fact the e-Commerce business is nothing but the execution of mercantile transactions using the Internet medium. In India, popularity of e-commerce industry is emerging as the new entrants like Flipkart, Snapdeal, Amazon, Paytm, Jabong, or Zomato, etc. have established their stronghold in the Indian economy. In view of this, we can deduce some of the reasons that have expanded the e-commerce industry:
1. Internet Boom
Latest figure confirms that the current number of Internet subscribers in India until the year 2014 has reached across 243.2 million and subsequently been increasing at the healthy rate. The access of Internet to Indian consumers has equipped these users to efficiently utilize the e-commerce services, like travel bookings, shopping, or phone bill transactions etc. Because of this, large numbers of Indian consumers are now connected to these e-commerce marketplaces using their Internet-enabled handheld and desktops, which ultimately results in prospering the e-commerce industry in India.
2. Rise in Smartphone Users
Smartphones loaded with advanced 3G/4G, Wi-Fi technologies are used by the approximate 168 million users in India till now. The rate of user dependability on smartphones has been rapidly increasing in India. Now, Indian consumers are managing their electronic transactions using the handheld devices, including the ticket bookings, shopping, or paying bills. The ease-of-accessibility and secure operating systems of smartphones has increased the Web access of e-commerce services on these smartphones.
3. Advent of 3G Technology
The successful implementation of 3G telecommunication services enables Indian users to use the e-commerce services at very fast speeds. This 3G service is a very fast technology to connect with Internet medium rather than the conventional 2G technology. With the help of a 3G connection, now the user can download or upload the data on Internet at the speed of 200 KB/S, which is way faster than the previous technologies. The increase in speed and security has bolstered the Indian consumers to use their smartphones, desktops, laptops, or tablets for savouring the e-commerce services like Bookmyshow, Paytm, Flipkart, Amazon, Snapdeal, or Olx, etc.
4. Provision of Cash on Delivery
Indian market is majorly driven by the cash-based transactions rather than electronic transactions. However, the later transaction type is gaining its share in the Indian market. Despite this, e-commerce industries are offering the Cash on Delivery (COD) option, which eases the process of purchasing the product or a service for Indian consumers. In India, companies like Flipkart, Amazon, Snapdeal and Jabong offer COD option to its consumers, giving the customer a chance to inspect the purchased product before paying for it. Such lucrative facilities to the Indian consumers are proving to be advantageous for the e-commerce industry.
5. Multiple Product Options with Cheap Prices
E-Commerce industry offers varied range of options for a single product to their consumers. Due to the presence of multiple product websites, the consumers get varied range of options with competitive prices. Because of this, Indian consumers get the best deals with minimal prices. Moreover, e-commerce websites maintain a rich graphical user interface, which is further enhanced with appropriate and useful product graphics and other information. Like, taking the case of an e-shopping portal, the websites display the product with its pictures, varying sizes, or product colour, etc.
Above depicted points are strongly responsible for the growth of e-commerce industries in India. However, one cannot miss the key government policies that help in flourishing the e-commerce market in India. We must always keep in mind that the provision of various kinds of taxes is also the key factor in moulding the reliable and cost-effective e-commerce market, for the Indian consumer. Along with this, the continuous utilization of e-commerce services is helping in building the trust amongst the Indian consumers