Online Shopping In India – Scene Is Changing Quickly
The phenomena that the world is shrinking to a Global Village due to the Internet alongside other communication mediumship is reflective in the context, like fast and developed countries have known this power of the Internet there is a sudden boom in the online shopping in India,
The entire world has been brought by the internet only a click away. The retail industry canvas has been repainted by the Internet and the rules of the game in retail are fast changing. Asia is the driving force behind global retail and the expansion of branded food and beverage, personal care products, apparel, fashion, and luxury.
AT Kearney’s annual Global Retail Development Index, in 2008, puts India as the 5th largest retail destination globally. In 2011 India was at 4th position, with India overtaking China for the first in 2017.
Only a couple of years ago Indian retail was mostly unorganized but, the scene is changing quickly with the development of retail groups such as FutureBazaar, Trent, Shoppers quit Reliance Retail, Spencer etc.
Since 2015 there is stiff competition between primary service providers like Jio, Idea, Airtel etc. There is 70 to 80 per cent decrease in the price of monthly data plans which increases the use of smartphones in India
A few years back survey of Indians who’ve access showed most of their answers were travel website and that all them barely could remember 1-2 online portals like MakeMyTrip and Flipkart In comparison, a typical Indian installed from America could recollect more than 5 online line portals. This clearly indicates a huge gap between this retail setup between India along with other developed countries but now seen is changing as in rural India the percentage of Internet users is increased by 30 to 40% and reaches 500 million mark.
India Is World’s Fastest Growing Online Shopping market
The Internet penetration rate of 11,100 % in India is among the highest in the world and we’re one of the highest numbers of Web users in absolute terms. India is regarded as one of the prominent IT hubs in this planet. In India, Total consumption expenditure on Retail sector is expected to reach nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017.
A lot of the big retailers have forayed to the online style. This shows this plethora of opportunity for online line retailing in India.