The 2017 calendar year is about to calm its performance but its festive haven’t lost the impetus yet. On the occasion of Christmas and New Year, the e-commerce is presently witnessing a boom in its sales.
It has been projected that the e-commerce market is anticipated to jump over $50 Billion in the forthcoming year 2018, compared to the present figure, which is $38.5 Billion. This anticipation is based on the massively growing online shoppers and penetration of Internet in developing countries.
The graph of Indian e-commerce market is seen to be grown from $13.6 Billion in 2014 to $19.7 Billion in 2015, based on the study conducted jointly by both Deloitte and Assocham.
Some of the crucial factors responsible for the growth of the e-commerce market are growing m-commerce sales, Internet and mobile penetration, highly advanced door-to-door shipping, convenient payment methods, exciting discounts, and expansion into the new emerging markets through e-business.
Feasibility in the e-commerce methodology in terms of financial transaction by banks or other financial payment firms is also one of the crucial factors responsible for the growth of the online shopping, which ultimately boosts the number of e-commerce market on the order gaps.
Large number of offline business owners inclining towards bringing their products online is also one of the drivers motivating the growth of the global e-commerce market.
One of the important trends identified by the industry analysts is that, Indian consumers rely on COD (cash on delivery)-type of payment owing to lack of trust in online transactions, security concerns, limited acceptance of debit and credit cards.
According to a study, it is expected that the growth will be 7–10x in the coming year, compared to last specifically with all footwear, jewellery, branded apparel, accessories, and gifts that are available in cheaper rates.
E-commerce players pushing exciting offers is the key strategy and driver that enhances the sales through online shopping.