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This document summarizes an exploratory study on electronic retailing (e-tailing) in India. It identifies several key factors driving the growth of e-tailing in India, including lower costs without physical stores, improved communication with customers, and a large potential customer reach through the internet and mass media. However, it also examines barriers to the growth of e-tailing such as the lack of bargaining, inability to see and touch products, rising competition, and lack of trust among customers. The document concludes that e-tailing has strong potential to grow in India if more rural customers gain internet access and skills to shop online, and if retailers improve delivery and reduce costs to build customer confidence.
This document summarizes an exploratory study on electronic retailing (e-tailing) in India. It identifies several key factors driving the growth of e-tailing in India, including lower costs without physical stores, improved communication with customers, and a large potential customer reach through the internet and mass media. However, it also examines barriers to the growth of e-tailing such as the lack of bargaining, inability to see and touch products, rising competition, and lack of trust among customers. The document concludes that e-tailing has strong potential to grow in India if more rural customers gain internet access and skills to shop online, and if retailers improve delivery and reduce costs to build customer confidence.
This document summarizes an exploratory study on electronic retailing (e-tailing) in India. It identifies several key factors driving the growth of e-tailing in India, including lower costs without physical stores, improved communication with customers, and a large potential customer reach through the internet and mass media. However, it also examines barriers to the growth of e-tailing such as the lack of bargaining, inability to see and touch products, rising competition, and lack of trust among customers. The document concludes that e-tailing has strong potential to grow in India if more rural customers gain internet access and skills to shop online, and if retailers improve delivery and reduce costs to build customer confidence.
I nternational J ournal of scientific research and management (I J SRM)
||Special I ssue On e-Marketing Road Ahead Of India ||Pages|| 39-43||2013||
Website: www.ijsrm.in ISSN (e): 2321-3418
D. Baskar, Special I ssue On e-Marketing Road Ahead Of I ndia Page 39 AN EXPLORATORY STUDY ON ELECTRONIC RETAILING IN INDIA *D. Baskar *Head of the Department, Department of Commerce (Computer Applications), Asan Memorial College of Arts & Science, Chennai.
Abstract The business world is changing and it is redefining itself at an inimitable pace. Internet penetration has brought a new rebellion in every field and has brought an important source of income for small, medium and big organizations when customers have their product or service through internet whether they are in work place or at home. It will be used as an easy means to transact business without any harass. Electronic retailing will set a new platform for the expansion of the business. This article analyze the growth factors, barriers of E-tailing Market in India and concludes that there will be a prospective growth of electronic retailing in India if more number of rural people brought under the fold of internet accessing and train them to use the sophisticated way of shopping Key words: Internet, Electronic retailing, Barriers, Online marketing, E-tailing Introduction The business world is changing and it is redefining itself at an inimitable pace. In past internet has brought a new rebellion in every field but now days it is one of the important source of income for small, medium and big organisations when customers have their product or service through internet whether they are in work place or at home. Electronic retailing gives transformation from conventional physical stock up system to classier non-store formats leads to revolution in business today. It will be used as an easy means to transact business without any harass. Electronic retailing will set a new platform for the expansion of the business. E-Tailing Electronic retailing is most commonly known as E-Tailing, through which shopping can be done via Internet and other media forms. E- -tailing is synonymous with business-to-consumer (B2C) transactions. These are online shops where a customer can choose from a variety of items like Apparel, Accessories, Mobiles/Cell Phones, Cameras, Computers, Books, Magazines, Music CDs and DVDs, Electronic, Goods, Shoes, Furniture, Health Equipments, Flowers, etc.
Review of Literature D. Baskar, Special I ssue On e-Marketing Road Ahead Of I ndia Page 40 1. Namita Bhandari and Preeti Kaushal (2013) in their study on online consumer behaviour using factor analysis and found the reasons for using online shopping like trust, information about the product and services, convenience, effortless shopping 2. Nagesh (2007) describes that Indian retailing will see a sea of change in the next five years driving consumption boom never seen in the history of any country. From a drought situation we will see a flood of modern retail, So Indian retail will be on a steady ground of sustained growth year after year and thereafter. 3. Mohanty & Panda (2008) opines about retailing as a sector of India occupies important place in the socio-economic growth strategy of the country. India is witnessing retailing boom being propelled by i changing demographic profiles heavily tilted young population, technological revolution, intense globalization drive etc. 4. Akash (2009) states that Retail business in India, as anywhere else in the world, plays a crucial role in an economy. Retail in India has the potential to add value over Rs 2,00,000 crore ($45billion) business in the coming years generating employment for some 2.5 million people in various retail operations and over10 million additional workforce in retail support activities including contract production and processing, supply chain and logistics, retail real estate development and management. 5. Sahu (2010) describes that a rise in consumer confidence, improvement in profitability and aggressive expansion plans signal better tidings for listed players in the organized retail space. Moreover, analysts believe listed retailers could attract foreign investments by spinning off their subsidiaries into separate companies which can provide a great opportunity for the improvement of this sector.
Need of the Study
Electronic retailing has emerged as a new avenue to consumers for shopping. Internet penetration spread across India at a faster rate, gaining attractiveness for online buying. E-retailers intend to take advantage on it inspite of impediment and escalated competition of e-tailing. Thus, this study is undertaken to access the factors for growth and barriers of e-tailing in India. Objectives of the study D. Baskar, Special I ssue On e-Marketing Road Ahead Of I ndia Page 41 1. To identify the factors for growth of E-tailing in India 2. To examine the Barriers of E-tailing Market in India
Factors for growth of E-tailing in India
No factual domain outlay
E-retailer does not require sophisticated showrooms in prime locations and they operate business through their web sites. Thus significantly saves the domain and maintenance cost which is on the higher side for the physical store retailers. Enhanced communiqu with the clientele E-tailing business gives better communication to customers as a whole. It gives personalized interaction with customers on individual basis for their response. Communication is an essential tool for mass clientele. Mass Media and Universal reach Enhanced communiqu with the clientele
Effortless and joyful Shopping
Mass Media and Universal reach
No factual domain outlay
Factors for growth for E-tailing in India
D. Baskar, Special I ssue On e-Marketing Road Ahead Of I ndia Page 42 A supermarket has limited area of operation. It caters only to a limited number of customers of a particular locality, but a web site can be accessed from any part of the globe and, thus increasing the potential customers in multifold. It also serves as a good media of advertising at minimum cost covering across the world. Effortless and joyful shopping A consumer prefers online shopping to save time as an alternative of shopping at malls and spend more time for purchasing. Shopping comfortably at home through internet and getting product information easily and joyfully is the more attraction for e-tailing business.
Barriers to growth of E-Tailing Market
Absence of Bargain Bargain is completely absent in e-tailing business. Indian consumers have the custom of bargaining especially the female consumers will do in every purchase and it is not possible in e-tailing business. Offering products at significant discounted rates is also not feasible in this type of shopping and this will be a key barrier in online shopping. Lack of touch and feel experience of the products Another barrier of online shopping is a customer does not have the accessibility of the product which is offered through e-business. E- Barriers to growth of E-Tailing Market Absence of Bargain
Lack of touch and feel experience of the products
Rising cutthroat pressures
Rising cutthroat pressures
Lack of trust among the customers
D. Baskar, Special I ssue On e-Marketing Road Ahead Of I ndia Page 43 as per the specifications shown in the online otherwise it is hard to bring in more trustworthiness in the e- tailing business. Lack of trust among the customers The online consumers are in lack of trust with the e-retailers concerning the safer and secured delivery of product which is ordered through online. Consumers need to wait for the delivery of the products and moreover products are not delivered as per the time stipulation. In addition to it, the online consumers also lack confidence in payment, since they are forced to pay high rates for courier or shipping charges. Conclusion In India, e-tailing has the potential to grow more than hundred-fold in the next eight years to reach a value of 76 billion dollars by 2021. This would be possible if more number of rural people brought under the fold of internet accessing and trained to use the sophisticated way of shopping. The e-retailers should also bring confidence among the online customers by prompt delivery of goods; allowing discounts for bulk purchases, reducing delivery charges etc. Subsequently, the Indian market will attain a different outlook. Bibliography 1. Gurinder Sin -tailing-Sustaining a Successful Business -zine, FICCI. 2. Effects of Interactive Ai 3. 4. Raisch, Wareen, (2001), The e-market place: Strategies for success in E-Commerce, New York: McGraw-Hill. 5. in the Click-and- Investopedia, A Forbes Media Company. 6. Global Journal of Commerce and Management perspective Vol. 2(4):98-107.
7. Akash, S.B. (2009), Opportunities and challenges of retailing Business In India-An Explanatory Study, KAIL Journal of Management and Research, 2(1).
8. Mohanty, A.K.& Panda, J. (2008), Retailing in India: Challenges and Opportunities, The Orissa Journal of Commerce, Vol. XXIX, NO.2, Bhubaneswar, July, pp. 69-79.
9. Nagesh, B.S (2007), Indian Retail The Way Forward, India Retail Report, An Images F & R Research,pp.246-248,www.indiaretailing.com.
10. Sahu, R.P. (2010), Higher Sales Boost Retail, Business Standard, section II, 21.