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
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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