What is it about online shopping that is getting youngsters to draw their wallets out more? Bhargav Kosuri looks into the trend.
Most e-commerce websites are modelled on sites such as Amazon and eBay which are considered as the cornerstones of this industry. Every e-commerce player in India started by supplying a small specific range of products but over time many have vastly extended their online catalogue to provide a holistic shopping experience.
However, certain websites have managed to create a prominence in regard to special products.
Initially, e-commerce companies faced logistical intricacies as conventional logistics companies placed massive freight charges and this worsened with the introduction of return policies, but Flipkart launched ‘eKart’ which is a customised shipping service that is exclusive to the online business and facilitates cost-saving.
The meteoric rise and promise shown by e-commerce in India has attracted investments from venture capital firms which is encouraging for young entrepreneurs. The introduction of smart phones and tablets has enabled the tech-savvy shoppers to buy on-the-go and this has led to the launching of the app version by many websites.