-Nayini Anurag Reddy(IBS Hyderabad, Batch of 2020-22)
E-commerce in india has changed the way business is done. The E-commerce market in India is predicted to grow to US$ 200 billion by 2027. The rapid digitalisation and usage of smartphones in india are fueling the growth of Indian e-commerce. With Internet usage spread is expected to almost double to 60% by 2022, the country is arguably the world’s most promising Internet economy, with a wild spread increase in netizen population.
Source: TRAI, CIA World Factbook, analyst reports, secondary research
The growth of e-commerce in past few years conveys that this industry is doing tremendously well with continuous increment from year to year.
Source : medium.com
Types of E-commerce in India
• Business to Business (B2B)
-The sale or purchases of goods & services happen between businesses via an online sales portal
• Business to Business to Consumer (B2B2C)
This model combines business to business (B2B) and business to consumer (B2C) for a transaction
• Business to Consumer (B2C)
The most commonly used market is B2C which enables business to sell their product to customer
• Consumer to Consumer (C2C)
This markets provide an innovative way to allow individuals(customers) to interact with each other
• Consumer to Business (C2B)
Here the consumer creates the value and business will consume the value
Ex – Article writer for a website
Today, the e-commerce in india has explored in all possible types and ways of e-commerce which creates a lot of scope for the industry in coming years. Though the early investments to explore various ways is a burden on the industry, the industry will get the return to this strongly in coming years
Covid’s impact on Indian e-commerce
- This covid crisis has actually helped E-commerce by bringing a change in mindset of how a consumer thinks and this change is a huge advantage for e-commerce to profitably run here in India for next many years
– This virus claimed to be originated from China brought a significant change in how a consumer thinks. Now along with quantity, quality and cost. The social distancing and personal hygiene are also top priority for a consumer.
– Prior to covid the Indian e-commerce is majorly driven by fashion and electronics. But now the major portion is from food and essentials which can also be new normal post Covid
– Covid has caused an inflexion and upward moment in Indian e-commerce. This growth is an inclusive which benefits both seller and the buyer.
– Now the giants like Myntra,Amazon and Facebook have already come up with exclusive offers to catch up this moment
– A recent report from the Facebook India – BCG claimed that around 50 per cent buyers expect to increase their e-commerce spend in the coming one month for categories like vitamins, supplements, personal care products, cosmetics, non-prescription medicines which are traditionally offline buys in India.
Major recent developments
– July 2020 Flipkart group has acquired 100% stake in Walmart India & Announced the launch of Flipkart Wholesale, a new digital marketplace.
– May 2020 Hershey India collaborated with Swiggy and Dunzo to launch their flagship online store in order to obtain better reach.
– May 2020 PepsiCo collaborated with Dunzo for their snack brands that include Lay’s, Kurkure, Doritos and Quaker.
– April 2020 Swiggy raised an additional US$ 43 M funding as part of its ongoing Series I round.
– April 2020 Reliance Industries (RIL) commenced its home delivery operations of essentials in collaboration with local kirana stores in different cities.
– Government of India has allocated Rs 8,000 crore from union budget 2020-21 to BharatNet Project to provide broadband services to 150,000+ gram panchayats.
- These above recent happenings and developments talk about how strong the road ahead is for the e-commerce in india
Job opportunities in E-commerce
This sector has a gamut scope of opportunities across the spectrum of skills. The major career paths have evolved around three areas :
• Operations – Inventory,logistics,warehouse,supply chain, etc.
• Auxiliary areas – HR,legal,finance,etc.
• Creative – Marketing,customer experience,branding,etc.
E-Commerce today in India has emerged as a very promising field providing a good number opportunities to job seekers with a bright future. The picture below gives a clear idea of various roles & skills supply in this industry.
Conclusion
Considering all the evidences which we discussed, I would like to conclude by saying that E-commerce is very much sustainable in India and also by looking at advancement in technology , the rise in digital platforms and the potential of market here we can call India as the next best Hot E-commerce destination.
References
rashikaravichandran
Well written !