e-Commerce, A Promising Shortcut To India's Better Economy

And it’s interesting, when we see Indian consumer’s perception towards e-commerce has undergone a drastic change; of-course for the good, to be more digitized. The most significant change witnessed in the travel and information services industry is the increase in mobile usage to access information. “By 2017, the mobile channel is expected to account for over 30 percent of online travel value sales. India is predicted to have over 300 million internet users by 2017, with more than 75 percent active on social media,” says Sudhakar Reddy, founder and CEO of Abhibus.com. “Mobile penetration has been growing year by year but mobile usage for updates and news is a new phenomenon. Users had already started using online/web services to book tickets and plan their travel but, with the advent of data enabled devices, the trend shifted to mobile phones,” remarks Manish Rathi, CEO and Co-Founder, RailYatri.in.

Off late, e-commerce is also witnessing new trends like the growth of online insurance. “I am confident that in the coming year we will see more innovation happening in the insurance product space. The web aggregators currently contribute to 65 percent of the total online insurance business. With increasing customer awareness, we expect this number to go up to 85 percent,” says Yashish Dahiya, CEO & co-founder, Policybazaar.com. Adding to it, new segments like ‘L-Commerce,’ (location based commerce) is also growing. There has been an increase in location promotions, as more merchants wanted online presence and determination from the local merchants to compete with big brands. “We expect an “L-Commerce” revolution in next 12-24 months and this segment is expected to be a significant part to help push the whole eco-system!” adds Abrar Shaikh- Founder & CEO, Squeakee.

As all the conditions are set favourable, the ecommerce market is expecting a dynamic expansion in all its dimensions including Business-to-Business (B2B), Business-to-Customer (B2C), Customer-to-Business (C2B) and Customer-to-Customer (C2C). “We expect e-commerce to keep growing in 2014 and the online shopper’s base to increase manifolds,” cites Swati Bhargava, the co-founder and CEO of Cashkaro.

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