Pros And Cons Of E-Commerce In India
India's e-commerce revenue has grown explosively over the past three years despite only 11 per cent of Indians having access to the Internet, according to a report by KPMG and the Internet & Mobile Association of India.
Online sales are growing at more than 50 per cent annually and are on track to reach $8.3 billion by 2016, Crisil estimates. KPMG estimates that e-commerce could contribute 4 per cent of India's GDP by 2020, compared to a projected 10 per cent for the country's IT and call-centre outsourcing industry.
India is one of the last major markets to mostly keep multinational retailers from setting up shop. Despite approving 51 per cent foreign investment in retail businesses in 2012, India has set stringent regulations intended to protect small
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You don’t need to be manning the store in order to make a sale.
Cons of Online retail
1) No trying before buying- While there's a plethora of items that can be purchased online without any hesitation, there are other items, such as clothes, shoes, furniture and electronic gadgets, that consumers like to see in person or try on before making a purchasing decision. In the world of online retail "trying before buying" is not possible.
2) Competition- Being that online retail is a multi-billion dollar operation with relatively low start-up costs -- it can cost as little as $25 a month to operate a website -- some people are starting online businesses with the goal of getting rich quick. More online retailers translates to more competition in the Internet retail world.
3) Credibility-Because there's so much competition in online retail, there are concerns of credibility among many of the businesses in operation. That's one advantage of having a physical location -- it builds a sense of trust and authority among customers, and it portrays your business in a more professional light than if you were just a Web-only
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