NATIONAL CONFERENCE ON NCTEFR - 2016

ROLL OF E-COMMERCE IN PRESENT SCENARIO

AUTHOR : CO-AUTHOR :

A.SUGUNA DEVI.M.Com.,MPhil.,PGDCA.,B.Ed. T.MAHESHWARI.M.Com.

E.Mail Id: sugunadevi123@yahoo.com

Phd, DEPARTMENT OF COMMERCE., MPhil.,DEPARTMENT OF

COMMERCE.,

PSG COLLEGE OF ARTS AND SCIENCE PSG COLLEGE OF ARTS AND

SCIENCE

COIMATORE.14. COIMATORE.14.

ABSTRACT

Electronic commerce involves buying and selling of goods and services over the World
Wide Web. Customers can purchase anything right from a car or a cake sitting
comfortably in his room and gift it to someone sitting miles apart just by click of a
mouse. E-commerce stands for electronic commerce and pertains to trading in goods
and services through the electronic medium. India is showing tremendous growth in
the Ecommerce.Theirsuccess depends on their understanding of the market and offering
various types of features. This paper deals with the components status, types,
advantages, present scenario and future of E-commerce.

KEY WORDS: E-COMMERCE,STATUS,PRESENT SCENARIO.

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INTRODUCTION TO E-COMMERCE
 The term "Electronic commerce" (or E-Commerce) refers to the use of an
electronic medium to carry out commercial transactions. Most of the time, it refers to the
sale of products via Internet, but the term E-Commerce also covers purchasing
mechanisms via Internet (for B-To-B).

A client who purchases on the Internet is called a cyberconsumer. E-Commerce is not

only limited to online sales, but also covers Preparation of estimates online,Consulting of
users,Provision of an electronic catalog,Access plan to point of sales,Real-time
management of product availability (stock)Online payment,Delivery tracking and After-
sales service.In certain cases, electronic commerce makes it possible to highly customize
products, in particular when the electronic commerce site is linked with the production
system of the enterprise (e.g. business cards, customized items such as T-shirts, cups,
caps, etc.)

COMPONENTS OF E-COMMERCE

Core of E-Commerce India

There are basically 3 transactions that take place in an E-Commerce system:

Product flow: Movement of goods from suppliers to end consumers through E-

Commerce and logistics players

Information flow: Information transmission of orders from customers and subsequent

information flow of order status through the value chain

Monetary flow: It involves payments from consumers to e-Commerce players and

suppliers and vice-versa through financial intermediaries

TYPES OF E-COMMERCE

Ecommerce can be broken into four main categories: B2B, B2C, C2B, and C2C.

B2B (Business-to-Business)

Companies doing business with each other such as manufacturers selling to distributors
and wholesalers selling to retailers. Pricing is based on quantity of order and is often
negotiable.

B2C (Business-to-Consumer)

Businesses selling to the general public typically through catalogs utilizing shopping cart
software. By dollar volume, B2B takes the prize, however B2C is really what the average
Joe has in mind with regards to ecommerce as a whole.

Having a hard time finding a book? Need to purchase a custom, high-end computer
system? How about a first class, all-inclusive trip to a tropical island? With the advent
ecommerce, all three things can be purchased literally in minutes without human
interaction. Oh how far we've come!

C2B (Consumer-to-Business)

A consumer posts his project with a set budget online and within hours companies review
the consumer's requirements and bid on the project. The consumer reviews the bids and
selects the company that will complete the project. Elance empowers consumers around
the world by providing the meeting ground and platform for such transactions.

C2C (Consumer-to-Consumer)

There are many sites offering free classifieds, auctions, and forums where individuals can
buy and sell thanks to online payment systems like PayPal where people can send and
receive money online with ease. eBay's auction service is a great example of
where person-to-person transactions take place everyday since 1995.

STATUS OF E-COMMERCE IN INDIA

Today E-commerce is a byword in Indian society and it has become an integral part of
our daily life. There are websites providing Many number of goods and services.Then
there are those, which provide a specific product along with its allied services.

Multi-product e-commerce:

Indian E-commerce portals provide goods and services in a variety of categories. To

name a few: Apparel and accessories for men and women, Health and beauty products ,
Books and magazines, Computers and peripherals, Vehicles, Software , Consumer
electronics,Household appliances,Jewelry,Audio/video,entertainment, goods, Gift
articles,Real estate and services

Single-product e-commerce: Some Indian portals/websites deal in a specialized field,for

example:

1) Automobiles-

On these sites we can buy and sell four-wheelers and two-wheelers, new as well as used
vehicles,online. Some of the services they provide are: Carresearch and reviews, Online
evaluation, Technicalspecifications, Vehicle Insurance, Vehicle Finance.

2) Stocks and shares and e-commerce-

In India today, wecan even deal in stocks and shares through e-commerce.Some of the
services offered to registered members are:Online buying/selling of stocks and shares,
Marketanalysis and research, Company information, Comparisonof companies, Research
on Equity and Mutual Funds.

3) Real estate and e-commerce-

They provide informationon new properties as well as properties for resale. One candeal
directly with developer through consultant. Alliedservices: Housing Finance, Insurance
companies,Architects & Interior Designers, NRI services, Packers &Movers.

4) Travel & tourism and e-commerce-

India has a richhistory and heritage and e-commerce is instrumental, to alarge extent, in
selling India as a product, encouragingIndians as well as foreigners to see its
multifacetedculture and beauty. The tourist destination sites arecategorized according to
themes like: Adventure -trekking, mountain climbing etc, Eco-Themes pertains to
jungles, flora and fauna.

5) Gifts and e-commerce-

In the bygone days, one had toplan what to gift a loved one, trudge across to yourfavorite
shop, and browse for hours before purchasing agift. The gifts are categorized as:
Collectibles likepaintings and sculptures, Luxury items like leather goods,perfumes,
jewelry boxes, etc, household curi os andcarpets, etc, Toys & games, Chocolates,
Flowers, Wood-craft & metal-craft.

6) Hobbies and e-commerce-

The most popular hobbiesfrom time immemorial are reading, music and films. Thebooks
cover a wide range of topics like Business, Art,Cookery, Engineering, Children’s Stories,
Health,Medicine, Biographies, Horror, Home & Garden, etc.

7) Matrimony and E- commerce-

It is said that marriagesare made in heaven, but in the world of E-commerce theyare
made on marriage portals One can search for asuitable match on their websites by region
of residence(India or abroad), religion or caste. Allied services forregistered members:
Astrological services, Information onCustoms and Rituals, Legal issues, Health &
Beauty,Fashion & Style, Wedding Planners.

8) Employment and e-commerce-

Two major portals likewww.Monsterindia.com and www.naukri.com (meaning job.com

in Hindi) are instrumental in providing jobseekers with suitable employment at the click
of a mouse.The service for job seekers is free and for Employers theycharge a nominal
fee. Jobs are available online in fieldsranging from secretarial to software development,
andfrom real estate to education.

ADVANTAGES OF E-COMMERCE

Convenience: Every product is at the tip of your fingers on the internet, literally. Type in
the product you are looking for into your favorite search engine and every option will
appear in a well organized list in a matter of seconds.

Time saving: With e-commerce there is no driving in circles while looking and digging
in hopes of finding what you need. Stores online offer their full line as well as use
warehouses instead of store fronts—products are easy to locate and can be delivered to
your door in just days.

Options: options, options! Without driving from store to store the consumer can easily
compare and contrast products. See who offers the best pricing and have more options to
choose from. While a physical store has limited space, the same store on the internet will
have full stock.

Easy to compare: Side by side comparisons are readily available and easy to do. When
products are placed online, they come with all the specifics, and they want you to
compare them with others, know they have the best options and come back for more!
Easy to find reviews: Because the competition is high, companies online want you to
look at other consumer reviews. Good and bad reviews are on every site, not only can
you see if the product is liked, you can also see the reasons behind the thumbs up or
down.

Increasing customer base: The customer base is every business’s main concern, online
or off. When online, a business doesn’t have to worry about getting the best property in
town, people from around the world have access to their products and can come back at
anytime.

Rise in sales: By not managing a storefront, any business will have more sales online
with a higher profit margin. They can redistribute money to make the consumer shopping
experience faster and more efficient. While being available to international markets, more
products will sell.24/7, 365 days. If it’s snowing and the roads are closed, or it’s too hot
and humid to even step outside in the summer, or a holiday that every store in town
closes, your online business is open for consumers 24/7 every day of the year. The doors
never close and profits will keep rising.

Expand business reach: A great tool on the internet is…translation! A business online
does not have to make a site for every language. With the right marketing, every
consumer around the globe can find the business site, products and information without
leaving home.

Recurring payments made: easy. With a little research, every business can set up
recurring payments. Find the provider that best suits your needs and billing will be done
in a consistent manner; payments will be received in the same way.

Instant transactions: With e-commerce there is no more waiting for the check to clear,
or a 30-day wait for certain other types of payment. Transactions are cleared immediately
or at most two to three days for the money to clear through the banking system.

PRESENT SCENARIO

Online shopping in its early stage was a simple medium for shopping with fewer
options. The users can just place an order and pay cash on delivery. But, in last few years
this field has been renovated to a high extent and hence fascinated many customers.
Today, the online shopping has become a trend in India and the reason behind the
adoption of this technique lies in the attractive online websites, user friendly interface,
bulky online stores with new fashion, easy payment methods (i.e. secure pay online via
gateways like paypal or cash-on-delivery), no bound on quantity & quality, one can
choose the items based on size, color, price, etc.

Despite being a developing country, India has shown a commendable increase in the
ecommerce industry in the last couple of years, thereby hitting the market with a boom.
Though the Indian online market is far behind the US and the UK, it has been growing at
a fast page.Further, the addition of discounts, coupons, offers, referral systems, 30days
return guarantee, 1-7 days delivery time, etc. to the online shopping and the E-Market
have added new flavors to the industry.

Indian digital commerce space is fast growing. One big reason is the prominent shift to
internet, via Smartphones, Tablets and/or lLptops. According to the report by Mobile
Internet in India 2014, India will soon reach the mark of 213 million mobile internet users
by June 2015, indicating a jump of 23% in a time span of 6 months (January 2015-June
2015). The consumer mentality of Indian customers is changing fast, aiding to the growth
of this industry. This high-end growth can be attributed to few recent facts –

Low-priced smartphones and 2G/3G/4G networks has enabled internet access

everywhere, even in the rural areas. Tier II and Tier III cities are growing fast.Rise of the
middle-class people, who have less time. They are more prone to do everything on their
smartphones, even shopping.Free home Delivery, deals, discounts, and offers of such
have given a boost to this industry.

E-COMMERCE IS THE FUTURE OF INDIA

Another trend that is fast growing to dominate in the eCommerce industry is that of
social shopping. It means shoppers’ friends can indulge in shopping experience. At
present India has only two players in this area- Limeroad and Xarato, who have
integrated social shopping with online product discovery.Last year Gartner Inc. had
estimated E-commerce market in India worth $6 billion in 2015, projecting a 70% growth
from 2014 revenue of $3.5 billion. However, according to the latest report by IAMAI and
IMRB International, the Indian eCommerce industry is expected to grow at a rate of 33%
and cross INR one lakh crore (US$16.3 billion) by the end of 2015 – little over 2.5X
predicted by Gartner.Flipkart co-founder Sachin Bansal hopes Indian eCommerce market
to reach approximately $50-70 billion by 2020. With the way people are getting
dependent on their smartphones and the rapid penetration of internet, eCommerce is
definitely the future of India.

CONCLUSION

A developing country can become industrialized and modernized if it can extensively

apply IT to enhance productivity and international competitiveness, develop e-commerce
and e-governance applications. An information-based society or knowledge based society
iscomposed of IT products, IT applications in society and economy as a whole. Many
countries in Asia are taking advantage of e-commerce through opening of
economies,which is essential for promoting competition and diffusion of Internet
technologies. Large enough to have acritical mass of 10 to 20 million users to be able to
makean impact on e-commerce and e-governance. In the next 3to 5 years, India will have
30 to 70 million Internet userswhich will equal, if not surpass, many of the
developedcountries. Internet economy will then become moremeaningful in India. With
the rapid expansion of internet,ecommerce, is set to play a very important role in the 21st
century, the new opportunities that will be thrown open,will be accessible to both large
corporations and small companies.