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Essay / The Growth of E-Commerce in India - 2915
BRIEF BACKGROUNDIf the Internet is anything to go by, India's technological and economic growth is shifting into high gear. With online shopping increasing in India at 100 percent annual growth, most retail chains and consumer durable goods companies are joining the virtual world to tap the e-shopping market. , not only in large metropolitan cities but also in small towns. At present, the market is estimated at Rs.46,000 crore and it is growing at 100% annually. Total number of unique visitors (000) % of total Internet reach: total audience. 46,390 100.0%Retail 27,171 58.6%Amazon Sites 6,805 14.7%Apple.com Global Sites 3,426 7.4%Samsung Group 2,759 5.9%Flipkart.com 2,675 5.8 %Homeshop18.com 2,286 4.9 %Naaptol.com 2,145 4.6 %Bookmyshow.com 2,125 4.6 %Myntra.com 2,110 4.5 %Priceindia.com 2,047 4.4 %Alibaba.com corporation 1,973 4.3%E-commerce has become very popular. Every retailer wants to become an online retailer and be part of the electronic world. Such retail concepts did not exist. Michael Aldrich invented online shopping in 1979. Today, many brick and mortar retailers are also turning to online shopping because of the immense reach of the virtual world. According to Google, India has more than 100 million Internet users, of which about half are for online shopping and this number is increasing every year. With such a large market, businesses from retail stores to consumer durable goods are jumping into the world of the web to attract potential customers. Even traditional retailers like Shoppers Stop, Westside and Pantaloons are looking for online shopping space to expand. Ac...... middle of paper ...... bright and promising future as organized retailing is a new experience in India and despite slowdowns, the market is growing exponentially, as economic growth attracts more of India's population in the consumer classes and organized retail attracts more and more existing buyers to its open doors. By 2015, more than 300 million consumers are expected to support organized retail chains. The growing middle class is also an important factor contributing to the growth of the retail sector in India. By 2030, it is estimated that 91 million households will belong to the “middle class”, compared to 21 million today. Additionally, by 2030, 570 million people are expected to move to cities, nearly twice the current population of the United States. The clothing category is the leading growing category among all e-commerce categories and will witness considerable growth in the future..