Global e-commerce is projected to double to 4.1 trillion by 2020. Dollars from 1.9 trillion. Dollars in 2016, as consumers in densely populated countries such as India and China prefer to shop online to avoid crowded shopping malls. Online shopping has led to significant developments in the Indian retail division, outlining shifts in buying deals.
Over the past few years, the online shopping industry has advanced dramatically and has become a notable mainstream. E-mail purchases are supported by the accelerated development of affordable network costs and the penetration of broadband combined with the confirmation by the e-business buyer as a suitable and safe alternative to retail brick and mortar.
In recent years, India has developed as the fastest growing economy on the planet. According to monetary analysts, India is the only country that can take on the growth of economic expansion of the mighty dragon of China.
According to the CSO (Central Statistical Organization) and the IMF (International Oversight Fund) in the coming years every possible business will gain significant growth, including the e-commerce sector in India. Because the rapid growth of smartphones and internet connections across the country is forcing users to buy and sell goods for comfort and mobility.
Many countries are working to improve and develop their e-commerce market like India. In fact, the current value of e-commerce in India is projected to be $ 16 billion to exceed $ 100 billion by 2020. The researcher estimated that the e-commerce market in India should grow the fastest in the Asia-Pacific region, taking over China in the coming years.
What sells the most?
Internet retail growth has increased by 57 percent since December 2014, and 60-70 percent of total e-commerce sales are coming to the fore on portable devices such as mobile phone, tablet, phablet, etc. Before spending on e-commerce, an investor needs to know what people are looking for and buying in the market.
The report describes that 48 percent of shoppers searched for information online in the categories of appeals, shoes and mobile devices. However, eighteen percent of them were purchased offline. In addition, 76 percent of buyers still prefer to pay in cash. The online retailer is looking forward to fighting COD by introducing a simple EMI and an additional discount on online payments.
Electronic goods and fashion products provide almost 49 percent of the total cost of e-tail. This separate section is expected to reach 110,620 crores by the end of 2017. If we take a look at the past, we seem to see that offline sellers, such as shoppers, have actually launched their personal online platforms to support this massive expansion of online e-commerce giants like Flipkart, Amazon, etc.
E-commerce opens up new business opportunities for the global travel business. Travel organizations and online companies seek to exploit the potential market. With the Indian smartphone business growing 100 percent in 2015, the hotel booking and travel sector have also achieved unprecedented growth of over 170 percent. The Association of Hotel and Restaurant Federation of India believes that the growth of the hotel services industry to successfully satisfy India’s customer by 2020 requires another 1.8 rooms.
In conclusion, due to increased consumer awareness of product quality, differences in buyer attitudes and purchasing rules the composition of e-commerce in India is suspected to be tremendous by 2020. Increasing the speed of high-speed Internet users are urging businesses to innovate and offer a diverse collection of goods and Internet services. Over the past few years, with the marked development of payment production in the e-commerce market, consumers are increasingly turning to online shopping and destroying their perception that the online market is dangerous. Consumer electronics, online travel and clothing, accessories – this is a market segment that reflects growth. With the advantage of sending on the same day, online supermarket stores are also part of the country’s online space.