A Snapshot of the e-retailing industry
In the coming 15 years India will see a rise in people opting for online retail. The past year’s e-commerce sales were approximately $16 billion with chances of market expanding up to seven times higher, according to Morgan Stanley. This has attracted an influx of investment in e-commerce firms, opening up the market for new players to set up their bases. Online retailing has had a heady impact on the sales turnover of brick and mortar stores, urging traditional players to opt for digital counterparts of physical stores. Growth Factors The current business environment in India is coercive enough to enhance the growth of the online retail in India. Key factors that can contribute to the growth of online retail in India include - a) Increase in the number of Internet users and online buyers: According to a research done by Google, the number of netizens from India is expected to reach 500 million by 2018. An estimated increa...