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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

June - 2012 - issue > Entrepreneur Talk

E-Commerce Players are on a High!

Ravitej Yadalam
Founder & CEO-Pennyful.com
Tuesday, June 5, 2012
Ravitej Yadalam
Wilmington Delaware headquartered Pennyful.com, is a pioneer in online cash back shopping. It works on a simple model: every time you purchase through its website store links, the respective stores pay Pennyful.com a commission, which it simply splits with you, thereby giving a win-win situation to both. Ravitej Yadalam, Founder & CEO, Pennyful shares his insights into the state of e-commerce sector in the industry today.

Hot trends in the industry today

The e-commerce market in India is growing at an incredible rate. Shoppers are slowly but surely beginning to trust the Indian e-commerce merchant. Just a couple of years ago, the mindset of the average online consumer were a lot more averse to transacting online. Today, one is a lot more comfortable in spending money on the internet. Broadband penetration across the country, recognizable online merchants, skeptic-friendly payment methods like cash on delivery, wide product choices, and unbeatably low costs are some of the factors that are driving this change.

Riding on this wave are a growing set of increasingly savvy shoppers who will leave no stone unturned to find the best bargains and offers on the web. These shoppers save a lot of money on their shopping, but also spend a lot more than the average online shopper. Merchants are taking advantage of this and offering a lot of ways for shoppers to save money in the form of coupon codes and cashback through websites like ours.

We are seeing the launch of new e-commerce players every day, and everyone wants in on selling to the growing online shopper community. While this is exciting news for the online shopper, investors today are a lot more conservative than last year in funding new e-commerce ventures in this crowded space. There has even been consolidation resulting from lack of funds for ventures that have been around for some time.

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