In the last decade the boom and expansion of Indian economy, e-commerce, electronics, smart phone manufacturing and mobile Internet availability to even tier 2 and tier 3 cities have altogether paved a way to expansion of e-commerce industry to up to 4-5 times in past few years.
With the giants like Alibaba and Amazon having deep pockets for expansion, investments and very mature platform, the home grown Flipkart, Snapdeal and many other e-commerce sites compete, many of these sites compete on niche competencies and sectors with limited resources, but inspite of several challenges like reach of logistics to nook and corners of a huge country like India, returns, secure payments and more. Inspite of all the challenges Indian e-commerce has managed to grow exponentially. The digital commerce market in India has grown steadily from $4.4 billion in 2010 to $13.6 billion in 2014 while the global market is forecasted to reach $1.5 trillion in 2014.
There are many new technologies that could possibly disrupt the ecommerce industry and lead us to paradigm shift through analytics, data mining, autonomous vehicles, social commerce to be a major one, 3D printing, and virtual reality making things more realistic, experiential and interesting. Companies are investing in consumer buying patterns to more personalize the shopping experience and ecommerce companies are building communities on social media networks to further engage with people and understand their needs and requirements to drive effective marketing strategies.
The future of e-commerce is bright and growth will come from mobile platforms, personalization, social media analytics, omni-channel service, and sharing economy business models.
With booming smart phone manufacturing industry, phones being more economical and affordable for lower income population as well and Jio sweeping mobile internet market and fierce competition in telecom sector has made mobile internet cheaper, accessible and available to nook and corners of the country where earlier internet was thing of a city only. Now this has paved a way for m-commerce to such an unprecedented levels that were not at all possible earlier for e-commerce, this has opened gates for much larger reach and potential in this industry.
Moreover, now more than 70% of revenue contribution to e-commerce is from mobile devices so we now know where e-commerce is heading and this is for a simple reason that it is very easy to surf, decide and shop on your finger tips through your mobile devices any time of the day. People are less and less using their laptops for online shopping purposes and more of mobile devices.
Consumers have now more and more choices of goods and services while sellers have more and more buyers for their products today. Sellers can easily reach out to buyers from every nook and corner of India to even around the globe. There is lot of potential for a serious seller who can make a fortune out of it. For seller to be successful in the online space, there are few basic things to be taken care like your clear product images, descriptive content, availability of stock, etc. and you will be all set to make a great fortune sellonline.