There was a time when ‘touch and feel’ was an important part of consumer purchase behavior. The boom of e-commerce sites has led to the transformation of the experience into ‘compare and click’. This leads to the sale of the product in a few seconds.
Almost 80% of internet users in India indulge in online shopping. The market has grown at an approximate rate of 40% a year. Its future is promising since consumers are getting varied perks to shop online. It is the young generation who largely indulges in online shopping. They are self dependant and make their own decisions. Being experimental in nature, they like to keep pace with the changing trends. These factors have led to the progress of E-commerce in India and all across the globe. The purchasing age group is between 15 years to 24 years. It is a growing segment, but people above this age group outrun the above mentioned segment due to their purchasing power. For instance, Pepperfry.com is India’s fastest growing lifestyle marketplace. The sellers are able to offer their merchandise at lower rates in comparison to retail stores. The website aids in the creation of communication between online retailers and shoppers. In a short span, the website has been showered with accolades and takes pride in its widening.
The merchandise offered by Pepperfry.com ranges from categories like furniture, apparel, kitchen, accessories etc… It is a one stop destination for all kinds of products. The trend has picked up slowly in India, however it picked up pace in the last few years. While it was initially limited to travel tickets and other low price purchases, consumers are now buying home furniture too. Though purchase in travel, entertainment and leisure have shown significant growth over the years, there is a drop in the sales of flowers and confectionaries. Consumers experimented with these categories since they were priced at low rates.
Indian consumers are not comfortable with the idea of electronic cash. Successful websites like Pepperfry.com have the option of ‘cash-on-delivery.’ Such a trend indicates that the arena of online shopping is open to the market experimentation.
Online shopping offers plenty of advantages. This purchasing experience gives you the convenience of shopping from your home. You can compare products and their features in an unbiased environment. You can get merchandises of popular brands at a discounted rate. The electronic commerce websites also have a cash return policy. If the product does not meet the consumers’ expectations, they can avail of this option.
E-commerce is a trend that has caught up with Indians. The steep growth of online transactions has led to the growth of Net banking. The safety aspect of this banking trend is also in check.
With the stabilization of electronic commerce, it would be interesting to observe the progress of all online shopping portals. The competition is cut-throat, and only a few can survive in the longer run.
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The increasing importance of the Internet has significantly created an impact on our lives. In the virtual world, we can network on social media platforms and even purchase different kinds of products that add value to our lives.
