With our fast changing Life Style, online shopping is the ultimate solution. Online shopping offers fast, easy, time saving, money saving and gives you very interesting and exciting shopping experience. The best advantage of online shopping is that it gives you 24 hours shopping facility. They also offer you many discounts / offers, you can do your complete shopping from your home, anywhere and anytime and then you will also have a large variety of quality products to choose from.
Furthermore, online shopping is a medium for all those who are away from their family and friends, to send gifts and other items. Wherever you are, just visit your favorite online shopping site, order your requirements and the items get delivered to the place of your choice. Isn’t it just amazing?
E-commerce has been steadily growing globally in the recent years, and as per the forecast, it’s expected to hit nearly $330 billion by 2016, up from $200 billion in 2011. Everything is happening so fast at an unbelievable speed.
Factors leading to the Success: Necessity is the mother of invention. And that’s how the E-commerce came into being. Advent of Information Technology (IT) and other innovative technology, really helped to transform /make our life more comfortable.
Let’s have a quick run through the growth profile of E-commerce/ internet shopping from the very beginning:
- Setting up of a website – Building up of a product inventory (which you can afford to handle) and start an online retail shop – followed by other activities involved in an online retail like Packing and Delivery of products to the customer.
- Receiving / collecting payments from the customer – changes that has taken place from the beginning till now – Debit card / Credit card / through Net Banking / Payment on Delivery / Cash on Delivery (COD).
- Induction / Listing of Potential Sellers to support your online retail business and monitoring the activities like quality of their products / packing and delivery of goods in time to the right customer.
- Building up Trust among the online shoppers by – Quality products/ Services as per the order – Delivery of goods in time – Provision for return of goods – Money Back Guarantee.
- Increasing the Customer Base by – Quality products / Services – Speedy Delivery – Return of products / Money Back Guarantee – Special Offers / Discounts – Coupons and Bonus points – Payment system COD – Customer Reviews about products / services.
- Price Comparison Sites – Help you to find the best offer for the products / Services you want to buy and identifying the online retailers from where you can buy the product – with best payment options – all from verified / trustworthy online retailers. Thus saving your time and money.
Technology – major contributor for the growth of E-commerce/ Online Shopping – Custom software for Online Retail Websites – Use of Hardware – Desktop – Tablets – Smartphones – Apps for easy accessibility – Internet connectivity.
The mobile revolution – was big land mark in E-commerce growth. Commerce on smartphones is expected to skyrocket from $3 billion in 2010 to $31 billion in 2016, according to some other forecast.
Mobile Apps – making it easy to quickly access the site, relevant product and pricing information, and special offers, with minimal friction.
Customer expectations: Consumer expectations regarding time-saving, personalized service and comfort supported by new technologies are greater than ever. Online Shoppers’ choice changed from – Conventional Online Shopping to – Showrooming – Webrooming – Click n Collect – Omni channel shopping, like:
Showrooming – A shopper visits a store to check out a product but then purchases the product online from home.
Webrooming – on the other hand, consumers research products online before going into the store for a final evaluation and purchase.
Click & Collect – A process by which the consumer is able to order online (click) and pick up (collect) their merchandise at a local store or collection point. It is a combination of online and in-store shopping and means the customers can search and buy their products on the internet and pick them up from a location of their choice.
Influence of Social Media – Social Networks proved to be the best media for sharing and influencing your friends in deciding on the products and the sites for your online shopping.
The Secret of Success: As our life style changes, thanks to the technology, which has always been stretching beyond our imagination, we love to make our life more comfortable. And every one of us contributes towards this goal.
We all know, ‘Time is the essence of everything’ and we are all looking for some ‘Quality Time’. But how do we find ‘Quality Time’? In a way, online shopping helps you to find some Quality Time because by doing online shopping from your home at your convenience saves lot of your time and wasteful time you spend in traffic jams.
It is the collective effort, where there was a Desire to do well, Contribution, big or small, from different sections of the community, Technological contribution, Customers growing expectations, support from the Social Networking Media and working hard to realize those dreams. And that’s the Secret of Success.
But we are yet to reach the Peak of Success. With technology stretching beyond our imagination, and with more and more people beginning to shop online, the growth of E-commerce has become quite unpredictable.
And now with ‘Visual Commerce Market’ using the latest technology, we are moving into a wonder-world of shopping. This technology “allows you to walk-through any store and shop while sitting at home, bringing back the real-life shopping experience’’, while maintaining the best in class customer service.