Though e commerce is not very new to the Indian market earlier also it was there and people are selling products through other medium like radio and Television but no substantiate share is there which we should consider. Internet has tremendously broaden the area and given the capabilities to showcase the products in more advance way. The penetration of internet in India is increasing like anything and more and more people are able to reach the internet via their smart phones, here I am taking about both high end and low end smart phones.
After seeing the success of the e commerce websites in US and Europe market, lot of companies started to find new market and they find Indian market suitable for that. Though they restricted their penetration to metro cities only. Their prediction proven right. Gradually young en-treasures from India also find the opportunity in the sector and started their own e commerce websites. Things goes well and it became a challenge for the traditional traders.
Through few market research farms it was find that there will be huge market for e commerce industry in India and it will keep on growing till 2025. So there is huge opportunity. But this opportunity also creates a huge competition in the e commerce market. It rages a discount war like how much discount you can give to retain your customers loyal to your website. Apart from this, companies are also investing heavily in marketing to third party marketing and online advertising companies. They will spam your inbox with thousands of offers from 10 different websites and everyone is claiming they are giving the best discount to you. Even traditional shops are also actively participating in ecommerce market place by becoming the vendors to big ecommerce market place websites.
Many people are thinking that is it the right time to jump into this market. My suggestion will be –yes. But first of all identify the area which is still vacant and unclear. Do some market research about that area like market size of that product or service? Who are going to be your customers, their affordability etc? After doing such research you can start your business and it’s very obvious, if there is opportunity there will be challenges also. Sometime new ideas change the market scenario like cash on delivery hardly people can think about its success but it changed the scenario of the e commerce market in India.