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E-COMMERCE INDUSTRY IN INDIA - A SUNRISE SECTOR

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  E-COMMERCE INDUSTRY IN INDIA –A SUNRISE SECTOR 1  Contents Introduction3History of E-Commerce Sector3Reasons for Growth of E-commerce Sector in India4Future Growth Prospects of Indian E-commerce Sector4Indian E-commerce ar!et Spi t#$emo%raphics of Indian E-Commerce ar!et#Indian E-commerce p ayers&Future of E-Commerce'(i% $ata and E-commerce sector'Socia Commerce'o)i e Commerce *m-Commerce+'Conc usion,REFERECES, E-COMMERCE – A SUNRISE SECTOR .  Introduction What is that you do when you need to gift your parents or friendson their birthday or for anyfestival? The majority of people today hop to the internet, browse through a few websitesthat sell gift items like books, clothes, perfumes etc. and order one of them to be dispatchedto the person’s address. It takes just a few minutes at the maimum and a click! ery fewpeople today bother or even have the time to drive down in the heavy traffic to somebouti#ue and go through all the items there, hop on to a net one and so on and finallyselect a gift and then go to the courier shop to parcel them off.The growth of e$commerce industry has made lives easier for countless people. It’s not justgifts but even everyday items like grocery and notebooks and pens that can be boughtonline. %ooks, clothes, shoes, jewellery and accessories, travel tickets and hotel bookingsare some of the commonly purchased items online. History of E-Commerce Sector  The rise of internet companies in India started in the mid$&''(s. The first Indian internetcompanies mainly featured online classifieds, matrimonial and job portals. The lowpenetration of internet, lack of awareness and lack of development and confidence in onlinepayment systems were reasons for Indian internet companies not actively engaging in e$commerce.It was only in the mid$)(((s, after the dot com bubble burst that e$commerce industry inIndia started to take off. The first e$commerce services available were mainly offered in thetravel industry. With the proliferation of low cost carrier airlines, ticket offering started to bemade online. *ven today travel booking websites hold a majority share of the Indian e$commerce space. + couple of years later, the online retail industry started taking shape and it is rapidly growingtoday as brick and mortar stores are being replaced by click$only models or brick cum clickmodels of business. *$commerce space relating to the deals and discounts websites started becoming popular towards )((' and onwards while the concept of social media for e$commerce is still trying tomake a foothold in the markets despite having one of the largest populations usingacebook. igure &- Timeline Indian *$ommerce Industry The Indian e$commerce markets offers services in %)%, %) and ) segments with mostof the players operating in the %) segment. 3  Reasons for ro!t of E-commerce Sector in India The e$commerce sector in India started to grow rapidly from )((/$(0 onwards. The mainfactors for this rapid growth in the revenues and number of e$commerce companiesoperating out of India was the growth of a young tech$savvy generation employed in ITcompanies, rise in disposable income, changing lifestyles and easier access to banking andinternet facilities. igure)- Indian *$commerce Industry 1rowth #uture ro!t $ros%ects of Indian E-commerce Sector   +ccording to a study by orrester, the Indian *$commerce sector is set to grow the fastest inthe +sia$2acific region at a +13 of /45 between )(&)$)(&0. igure 6- Indian *$commerce industry vs. +2+ Though currently having one of the smallest bases, e$commerce market in India is set togrow by more than five$fold by )(&0 as the number of online buyers and per capital onlinespending is epected to increase rapidly. 3easons for this potential growth include- ã Increase in annual disposable income per household by two and half time by )(&/. Itis epected to grow at a +13 of /.&5 during )((/ 7 )()/. ã 8iscretionary spending epected to rise to 0&5 in )(&/ from /)5 in )((/. ã 3ise in the sales of 2s, tablets and smartphones as prices have declined. ã Increase in time spent online by an Indian. +verage time spent by an Indian on theinternet is epected to increase to )& hours per month in )(&/ from the &4.9 hoursspent in )(&&. 4
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