The way we shop nowadays has changed monumentally. Gone are the days when we have to plan a day out for shopping. Today we can just sit at home and shop anytime. Beginning from the plethora of products on offer to the latest in design and fashion, there is something for everyone. While initially it was e-books which attracted users to shop on the internet, today e-commerce defines shopping beyond the physical boundaries of a store.
E-commerce sales in India are expected to grow from $14 billion in 2015 to $55 billion in 2018, says a report by marketing research firm eMarketer. In India, it is expected to account for 3% of total retail by 2020. This 3% growth will mean orders per million are expected to more than double from five million in 2013 to 12 million by 2016.
Online retail now accounts for 0.8% of all retail sales in India, compared with a global average of 6.3%, and e-Marketer forecasts this would grow to 4.8% by 2019, when it is projected to be 12.8% globally.
So, what has really changed in the way we shop? Of course, there is more variety of a brands and goods in the internet shopping world. You can view them all together, compare, and decide on the best buy. Add to it the given attraction of discounts and offers; you are confident of cracking the best deal. So strong is the influence of the price factor offered online that many consumers have started visiting stores, just to get a feel of the product; only to buy it later online at a discounted price.
Then, there is the latest in fashion and design available on various e-commerce sites. You can catch a glimpse of different styles, before you really discover them in a store visit. All sizes are available to make it a sure shot buy.
However, it is convenience that is the biggest advantage of online shopping. Who wants to beat the traffic everyday just to buy an item which can be easily ordered using a smartphone. It is not only about the convenience of clicking for the order, but also about the cash on delivery, as well as the return policy offered. Yes, you can try, return, and even exchange the product ordered at your convenience. There are no charges for this extra service; only the promise to deliver in a schedule frame of time.
Today, everything under the sun is available on an e-commerce platform. Right from a grocery store, which promises to deliver fresh vegetables at the doorstep, to home décor items, which offer exclusivity in design; you can shop for anything.
On the other hand, there are many people who still prefer the touch and feel of the product before they decide to pay for it. Then, the loitering around in the mall is considered to be a shopping therapy to beat the stress.
However, with e-commerce industry reinventing itself each time, the time ahead looks very optimistic for its growth. Consider the innovative strategy of online flash sales, which is a huge success (even minus the logistical errors in the beginning). People will continue to flock to the online nest, as long as they get value for money offers.
