Today, the Internet has totally transformed the way people buy products and companies sell their products. From mobile phones to computers, clothes to shoes, books to electronics, people are increasingly turning to Internet to purchase products and services. This has resulted in the evolution of innovative ‘dot-com’ companies and eventually creative jobs.
E-commerce popularity is not limited to developed countries. As with computer literacy rate, PC ownership and Internet users, the Indian market is witnessing significant growth in ecommerce similar to American or European markets.
This article analyzes and lists the factors that led to exponential e-commerce growth in India and discusses on how it is creating many new jobs.
Exponential growth in Internet usage in India
Few years back, using Internet in India was like using high-end technology; it was available only to those who can afford a personal computer and high Internet rates. Today, the scenario has completely changed. With the reduced prices and increased access, the number of Internet users has grown exponentially in the last 10 years. From just 1.4 million in 1998, the number of Internet users has grown to 121 million in 2011 and is expected to reach 376 million by 2015.
Online purchasing on rise
E-commerce in India is still in its budding stage. But if we look at the trends in consumer behavior, we can expect a lot to happen in online space in the coming years.
According to Zinnov report, shopping is the third most popular category of search on the Internet. While 77% of the respondents shopped online at least once in 3 months, over 50% shopped at least once in the last month. 백링크
E-commerce market in India
As more and more people are showing interest in online shopping, investors find it worth investing in India. According to Forrester report, the current e-commerce market in India is US $ 1.6 billion and it is expected to grow five times by 2016 to US $ 8.8 billion.
E-commerce success stories in India
Many companies in India have already entered online space and tasted success that they never imagined. Indian railways web portal – IRCTC; online bus booking services like Red Bus; online job portals like Naukri, Monster; movie booking, matrimonial services, etc., are a few portals that became big hit in India. IRCTC received 5.56 million bookings in April 2012 compared to 2.26 lakh in April 2011, achieving a growth rate of 146% in a year.
Growth in e-commerce and digital advertising
With as many as 121 million people using Internet, advertisers find Internet a worth pursuing space. According to IAMAI, as of March 2012, digital advertisement spend in India was 28.51 billion and by the end of 2012 it is expected to touch 43.91 billion. On an average the digital ad spends are growing at 25% year-on-year.