Vikas Ahuja, CMO, Myntra, talks about why e-commerce is the most preferred medium of shopping these days and shares a few tips to avoid unpleasant experiences online.
India has one of the largest youth population in the world today along with a rapidly growing mobile market (over 51 million smartphones). This fantastic combination has provided an impetus for the Electronic Commerce or e-commerce industry to scale up. E-commerce is a platform where transactions for goods and services occur via the Internet. Online retail is one of the biggest benefactors and growing at over 40% each year.
Today, shoppers, primarily the youth aged between 18-28 years, have become more comfortable with the online medium and are lapping up the benefits offered by various online shopping portals. Though, consumers have their concerns about the security of online transactions, more and more are prepared to buy online due to the sheer benefits this medium offers.
With unlimited shelf space, online portals offer the widest collection across categories. For example, a college-goer, who is keen on buying the latest sports shoes, can access all popular international brands and their entire collection at one online store sitting in the comfort of his home. Whereas, he/she would have to visit multiple brand stores spread across the city in the chaotic traffic, find a parking slot and jostle with the crowds to view the same collection.
With the advent of online shopping, youth in tier-two cities and smaller towns have access to the best brands which may not otherwise be available in their town. At the click of a button, these products will be delivered to their residence along with an option to exchange or return the product within 30 days, no questions asked.
Online portals offer additional services such as style tips, new trends and hot picks for the week to help young shoppers gain awareness of the latest fashion trends and make the right purchase decision.
Do’s and Don’ts
Shoppers should ensure they transact from reputed ecommerce portals to avoid surprises.
Those who are not comfortable sharing credit card details online can opt for Cash-On-Delivery to pay for their orders at the time of delivery.
Read through the returns or exchange policy offered by portals before making a purchase.
Speak to the customer care personnel if there is uncertainty about a particular product or process of ordering online.
Shoppers can use social media channels to connect with portals and also share their shopping experiences for the benefit of friends and relatives.