E--commerce, the electronic commerce that has revolutionized the world and the way businesses are carried out, has become the order of the day if people…
Indian Industry reports suggest that by 2014-25, the e-Commerce markets will touch USD 260 billion, the one and only sector that promises a lot of growth potential. The internet platform is definitely by and large the one that has the highest market potentiality and is capable of offering services across the entire globe. It is this single main reason that has made e-commerce such a huge hit with internet marketers and is offering even more staggering growth by the end 2024-2025.
E-Commerce is nothing but an activity that involves selling and buying of a wide range of products and services through the electronic medium that makes use of the internet and various other computer networks. And with this facility the amount of commerce that is conducted electronically has exponentially grown thanks to the advent of the internet.
Electronic commerce has made funds transfer very easy, made e-marketing cross newer boundaries, paved the way for online transaction processing, automated systems for inventory management, automated systems for data collection, supply chain management and many more. The modern electronic commerce makes use of the World Wide Web in numerous transactions.
Right from mid 1990s the transition of businesses has started slowly and has now evolved into a big world of commercial space on the internet platform.
Whether you want to place an order for a bouquet or to buy or rent a car, you can do it from the comfort of your home. The e-commerce market that exists today has truly evolved, is huge and is still raring to grow. A totally democratic setup, the eCommerce market is for the people, by the people and of the people. Guess one should not have any doubts about this.
And it is also true that if you are successful in selling your products you win and otherwise you lose. Business is indeed all about economic rules that rotate around demand and supply. A few are highly amenable for online sales whereas a few others are best suited for the traditional form.
There are numerous virtual companies that deal with software, digital products, education, movies, music, communication and various financial transactions. Amazon.com, eBay, PayPal is just a few examples of the virtual companies.
E-Commerce: Over The World
The Indian population was quite skeptical about making online transactions initially but with the passing time and after witnessing the progress that the West and European countries have made in this arena, they have increased the buying capacity from 2,000-5,000 to Rs. 25,000.
China is identified as the single largest country that has changed dramatically with the advent of ecommerce and the trend is found to be going strong and would solidify the position as a leader in eCommerce. (Please read our post on: China Becomes Robust Marketplace for eCommerce Industry). With the kind of benefits online shopping brings along, it is believed to grow exponentially by 2015 recording a steady growth percentage year after year.
The ecommerce bug has bitten almost all countries across the globe and is fast spreading to countries like Spain, Italy, Brazil (Please read our post on: Brazil Shows Strong Infatuation for E-Commerce) and Holland as well. There are various niches that are benefitting by this trend with information technology topping the list and closely followed by real estate, hardware and software, computers, tourism as well as financial services.
This trend will continue definitely and will take businesses to greater heights as there will be more and more number of people following the internet way to procure a wide range of things. Reports and research only reiterate these facts. The trend is fast catching up even in India and it is indicative of the forthcoming growth in terms of sales through secure payment gateways too though China, United States, United Kingdom, Australia and Canada can be far ahead of the other countries in the world.
About Hemant Parmar
Hemant Parmar is an eCommerce expert and a keen Magento consultant who specializes in meeting the needs of businesses in the e-commerce space. Years in the eCommerce market make him a perfect choice for sharing his expertise on eCommerce and Magento 2 development. He believes that customers need to be met no matter how challenging it might be.Read More