Last couple of years we have seen an intense battle amongst these Online rivals to be the biggest shopping website in the country. What it has led to is is big saving opportunities for consumers, discounts ranging anywhere from 20% to 70% on the mark up prices. So just in-case you are not buying online, you are spending a lot more than the smart people who are now approx 40 million in numbers and are now buying stuff like groceries, diapers, mobiles, shoes, furniture and more online.
The e-commerce industry is growing at a phenomenal rate of 33-35% annually and is attracting a lot of attention from Global communities, the latest news(rather rumour) of Alibaba upping it stake to 40% in Paytm is just a precursor to big things coming our way. Sample this, according to a tecnopak report from 2012 e-tailing in India is just 0.1% of total retail market which means a huge huge headroom, this report estimated the e-tail market to touch USD 76 billion by 2021 but i feel this number is underestimated, i would assume that the e-tail market will easily be up-word of 100 billion or atleast 15-20% of total retail. A large chunk of e-tail business in India will be driven by handheld/portable devices and the way Internet of Things(IOT) is shaping up it is not a distant future that even your refrigerator places order on your behalf for regular supplies.
While this is poised to happen in the very near future the e-tail companies are literally knocking our doors to try their services and are ready to incur losses on every transaction that we make on them, according to a recent report Flipkart looses Rs.2.23 on every Rs.1 it makes as vendor commission and other fee it charges from its vendors. So, it is essentially party time for online shoppers and as i said above “if you are not Buying online you are not Buying Online” 😉