The Growth of E-commerce in India Essay - 2904 Words

BRIEF BACKGROUND If the Internet is anything to go by, the technological and the economic growth of India is moving into the top gear. With an increase in the online shopping registering in India, a 100 percent annual growth, most of the retail chains and consumer durable companies are joining the virtual world to tap the E shopping market. The online shopping industry of India is now fast catching on, not only in the larger metro cities but also in the smaller cities. At present the market is estimated at Rs.46, 000 crore and it is growing at 100 % per year. Total Unique Visitors(000) % Reach Total internet: Total Audience 46,390 100.0% Retail 27,171 58.6% Amazon sites 6,805 14.7% Apple.com Worldwide Sites 3,426 7.4%†¦show more content†¦SUMMARY E-Commerce is a type of virtual industry where the buying and selling of products and services is conducted over electronic systems such as the internet and other computer networks. Basically, it provides a platform to the retailers to display their products virtually for selling in order to increase their overall sale. Earlier, there were no such concepts for the retailers or for the customers to play with. They were restricted to their physical stores for the purpose of buying and selling but now there are many online websites or we can say virtual websites where they can sell their products and increase their sales. Now, not only the retailers are playing with their products even the consumers are also playing with their products. There are online websites where two consumers are dealing with each other, where one is the buyer and the other consumer is the seller. Example- olx. Earlier there were two retailers- physical store retailer and the online retailer. Physical store retailers are those who have their physical outlets and they deal with their customers through their physical outlets/stores and the online retailers are those who deal with their customers through the virtual websites/online websites. 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