Ecommerce is the new face of Indian commerce which is vigorously expanding and thriving with a remarkable growth rate. And, this growth is backing all other industries, especially technologies, and growth aspects of the country. From supporting the economic growth of the country to generating huge employment and unveiling newer opportunities for tech sector, online retail industry is doing all good for the overall growth and empowerment of the country. It’s emerging as another face of Indian Inc that is rapidly capturing recognition across the globe.
According to a recent report, as people are growingly shifting towards online shopping, the retail category penetration has grown to 65% and is now recording about 53.4 million monthly visitors, with an overall annual growth of 15%, according to a report. Apparels, health, fragrances, home furnishings and cosmetics are few categories having shown growth in past 12 years, with apparels having the strongest growth rate of 66% and fragrances and cosmetics of 12%, according to a report by comScore and Assocham, titled ‘State of E-Commerce in India. “The growth has been reported throughout all retail categories and most of them are showing promising transactions as well as conversion rates along with growing number of visitors,” said the report.
According to the report, the Flipkart group of websites that combines Myntra, are most visited retail sites with more than 26 million unique visitors in July’2014. This calculation excludes visitors via mobile internet and applications. This is followed by Jabong with 23.5 million unique visitors and Amazon with 16.9 million unique visitors.
Some other recent reports and analysis also have concluded a prospering Indian eCommerce industry ahead. Plus, this industry has got a giant backer with billionaire Kumar Mangalam Birla. The renowned $40 billion Aditya Birla Group is soon launching a project for identifying opportunities around eCommerce as the rising disposable revenue, swift adoption of smartphones and the large segment of young buyers have boosted an enormous potential for online businesses.
The leader for the new project will be Prashant Gupta, who heads at chairman’s office, for preparing the groundwork for metals to telecom group’s venture at eCommerce. It’s on the basis of Gupta’s 12 years stint at McKinsey & Co. that got selected him for this project and has provided him deep insights of long-term potential of businesses. He joined the Birla group in 2010 as President and has been assisted by KM Birla for strategic planning and monitoring of diversified businesses. “His mandate will be to study the whole eCommerce region and evaluate the business potential. On the basis of his conclusions, the Birla group will decide about plunges to take,” said a source.
On the other hand, as some of the major global online retailers are widening their businesses in a very vigorous way, the Indian eCommerce industry is expected to generate 30% increased employment that would altogether create up to 50,000 jobs in the next three years. Randstad India, a leading human resources consultancy has reported that the recruitment in this region would rise by 20% to 30% in upcoming years, which will be backed by emerging domestic eStores and eCommerce MNCs in India. Plus, as various global businesses are setting up their back-office operations in India, the employment will be supported further. Unison International, an HR firm analysed and concluded that in past few years, hiring has been slow in the eCommerce region, but it will grow by 33% in coming years, as various retail brands are also entering eCommerce. Besides this, the eCommerce industry is expected to beget 15,000 to 50,000 jobs for data analysts in upcoming years, according to Jigsaw Academy. “The companies are recruiting aggressively and offering lucrative packages to allure the right talent,” said Gaurav Vohra, CEO of Jigsaw Academy.
Now, it’s Hewlett Packard (HP) India after Asus and Lenovo that has joined the group of technology firms for advising customers around online shopping. HP has raised points for cautions to be followed for purchasing devices from unauthorised eStores. The giant PC maker has advised people for purchasing computers, laptops and tablets only through authorised online channel partners or it own eStore. The predatory pricing is affecting industry and the industry is working with associations such as MAIT and Nasscom for framing right policies.
“We’ve already released an advisory on how we can help and what we cannot do with channel partners. We are advising people to go through our official and registered channel partners. That is very strongly advised,” said Rajiv Srivastava, VP and General Manager – Printing & Personal Systems Group, HP. We issued the advisory almost a month back, he added. Last month, Asus and Lenovo also advised customers to be careful for purchasing devices from eStores. The official online partner of HP India is Flipkart, along with its own eStore and traditional partners,” he added.
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From ITvoir News Desk