Ease of buying things by sitting
at home or office, avoiding heavy traffics, finding a parking space makes the
E-commerce to gain its strength in India.
Flipkart, Snapdeal and Myntra are a few startups that changed the people’s mindset and drove them to purchase
accessories, books online. Now, world’s biggest retailers including Amazon, Walmart
and eBay are rushing to capture their market share in India.
India’s e-commerce market is projected
to grow sevenfold to $22 billion in the next five years, as Internet
infrastructure improves further, making it easier for the country’s nearly 200
million online population to shop on-the-go. India’s e-commerce market is
currently worth $3.1 billion.
An important factor helping
e-commerce growth in categories such as fashion, home decor, jewelry and baby
care, is growing influence of women shoppers. Myntra, nearly doubled in value
from $278 million in 2012 to $559 million in 2013. Even mobile commerce is also
picking up with a few companies like book my show, Paytm etc.
May be in the near future, India can
also see few E-commerce giants like Instacart which helps to shop groceries
online. But the biggest bottleneck for internet business in India is going to
be the existing regulations that don’t seem to be in sync with the new business models.
