It is not a unique thing to do as it is the most integral part of everyone’s life. For some, shopping is casual, and for others, it is their passion. Nowadays, people are more concerned about their appearance and living standards, which bring people, close to ‘shop’.
The term “shop” does not refer to a physical location. The era of the 21st century brings shops to our doorstep. Yes! The e-commerce industry has evolved so much that products are just a click away.
Online shopping has progressed immensely in India in the last couple of years. India has crossed its US$ 15 billion mark in just two years and secured the 9th position in the e-commerce industry, which is commendable.
Why is this industry expanding so much in India?
- Due to the pandemic of 2019 (Covid19) :
It has brought a lot of changes in the way people perceive things. The traditional way of shopping has fallen, and people have started shifting to online platforms. According to research, 50% of buyers spent an average of Rs. 10,000 shopping online.
- The increasing number of online platforms :
Apart from the big players such as Amazon, Flipkart, etc., the small and medium enterprises have also entered the market with a root which no one has ever imagined before, i.e., Social Media. It is no longer just a platform for connecting people. It has also become a place where people can sell, buy, and promote products and services. According to one paper, it has recently increased sales by more than 70%.
- User-friendly interface :
These platforms have started to provide a user-friendly interface by designing effortless websites for users. Voice shopping (people command their voice and the interface displays the product on the screen), mobile shopping (mobile commerce and mobile apps), and visual purchasing (to see how the product looks on them after virtually wearing it before purchasing it) are some of the most recent inventions.
- By Bringing Offers and Discounts :
It is obvious to buy the same products at discounted rates from these platforms rather than from stores. These platforms deal directly with the manufacturers by eliminating the middlemen and bringing profit to the company and satisfaction to the customer.
- Improvisation in internet connectivity :
The reach of internet connections to rural areas and the growing use of smartphones (smartphone users are expected to be 1.6 billion by 2023) helped the e-commerce industry to expand significantly in India.
- Lack of time to move to physical stores :
Increasing modernisation and workload are the main reasons for shifting to online shopping rather than moving to stores. Sectors such as electronics, groceries, health, and education are also growing very quickly on online platforms.