After the Indian economy became global in 1992, the next biggest move in the consumer industry is the e-commerce industry. Today on Television Media, every third advertisement is of one or the other shopping portal. E-commerce increases the buyer’s ability to purchase by providing the cheesy options of EMI, Cash on Delivery and exclusive discounts. Although E-commerce has only been able to capture the attention of 2% of the Indian economy so far due to the trust factor within the Indian audience; it’s increasing rapidly.
With the growing Internet accessibility, buyers are using e-commerce rapidly. Indian buyer is becoming aware and using all the means of comparisons on various shopping websites and then chooses the best price. Comparisons are done of the same price with the offline stores and then the buyers are making a choice, which allows a lot of options and creates huge competition. The biggest challenge in the Indian market is to build the trust and remove mental block of people who are not willing to use the online payment gateways to purchase the products. However, e-commerce has come up with the options of payment on delivery in cash and it is helping secure quite a lot of market which was untouched for quite some time.
With the situation of 3 way battle between, e-commerce, retail stores and new entrant Wall Mart, the consumer is only going to be benefited. However, e-commerce will always have an upper hand among all of these. Below are the benefits to the consumer from E-Commerce:
- Transparent Comparison across the markets and within the Online Sellers
- Daily offers and Discounts – Promise the cheapest price in market and next day delivery
- Access to shopping at finger tips, no traffic, no weather challenges and Home Delivery
- 30 days return policy with Cash on Delivery and Payment option via EMIs
A recent example of how eCommerce portals are increasingly accepted in the market is of- A management graduate from EDI, Shikha Agarwal who has launched online Grocery store with Cash on Delivery http://shopatsaligram.com/ payment mode. The website contains all the items we would expect in a typical Grocery store list except perishable food. It is indeed a luxury buying from this website as it allows buyers to stay in their cozy houses and make purchase at discounted rates and get home delivery of the products ordered. The important point of view she had not getting into Lifestyle or the Electronic sector. Instead by hitting the FMCG market, her website has recurrent and loyal customers who buy from the website every month.
Your shopping portal will have the best design to allow your customers feel the products and the most accurate integration of Shopping Carts and Payment Gateways. It will also feature history of the products visited, related searches and most important of all, allow the customer to manage the orders. Making it really useful, it will have database management system within the shopping portal to choose the loyal customers and defaulters. If you are seeking to get a feature-rich eCommerce portal developed, contact us now.