The e-commerce market has emerged as the new way business is transacted, whether in retail, or B2B, locally or globally. The scenario is that the internet is a global marketplace providing platform to every single retailer a national, if not a global presence. The e-commerce market place has become such a vital part of the economy that it is really very hard to point out that from where the e-commerce begins and the old-world economy ends.
eCommerce market has registered a stupendous growth rate in India (17 billion to over a 100 billion dollars by 2020 as per data projections made by (Pricewaterhouse Coopers). While domestic e-Tailers like Snapdeal, Flipkart have garnered multi-million-dollar investments, foreign counterparts like Amazon are betting on India as their # 1 growth engine in terms of market growth and potential, having invested more than 7 billion dollars from internal resources.
In years to come, core competency in specific product categories would become key, failing which, e-Tailers are more likely to bleed than remain buoyant. The current boom is a super bubble that can burst with the law of diminishing returns pin, which is bound to apply more as well as faster, to such a hyper-competitive landscape. Managing and retaining your customer while maintaining market share will become CSFs to an extremity.
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