Ecommerce and Internet Marketingand

Ecommerce and Internet Marketingand

Ecommerce stands for electronic commerce, has unleashed yet another revolution, which has changed the methods of buying and selling of goods, products and services across the world, via internet. The transactions may be real-time transfer of funds or may be handled manually by an EFTPOS (Electronic Funds Transfer at Point of Sale) terminal, the moment an order is received by the merchant. This process of internet sales is increasing rapidly, as the consumers find low prices offered by the wholesalers and the privacy concerns are addressed on the websites now for consumer security. Ecommerce has so many benefits that outweigh non-electronic commerce services. New markets, reduced time, lock in customers, improved relationships with trading partners, flexibility with efficiency and reduced costs are only some of them.

Indian market is showing a tremendous trafficking of ecommerce and it has now over billions of registered buyers on the internet and the growth rate is increasing at a rapid pace, not adding up but multiplying the numbers. Online shopping shows a great potential in Indian middle class. Consumers in India are less worried about buying tickets or goods online, and marketers taking advantage of this avoid the logistics and delivery problems linked with the physical goods.

A senior analyst stated :

Such preferences call attention to how ecommerce in India has a tremendous growth. We may say that ecommerce has become a byword in Indian society and it now an integral part of our daily life.

The Indian ecommerce portals offer goods and services in a huge variety of categories e.g. health and beauty products, accessories for men and women, computers and peripherals, books and magazines and numerous more. This ensures that they target as many people as they can and their target audience now has a wider range. Some of the portals however, deal in specialized fields such as automobiles, stocks and shares, real estate etc.

Information directories in which goods and services are listed make it easier for a consumer to find whatever he wants to buy. This tremendously has facilitated Ecommerce in India. Credit goes to the Banks, which offer online banking facilities and credit, or debit cards without which ecommerce would have been impossible. However, there are some infrastructural barriers and obstacles in the way of growth of ecommerce as well. They include, payment collection, logistics, vendor management, taxation, limited internet access among customers, multiple gaps in the legal regulatory framework, lack of trust and lack of payment gateways.

India is making way from being a developing country to an industrialized and modernized one. Countries in Asia are taking the advantage of ecommerce by diffusion of internet technologies. It is believed that India, in the next few years, will have a figure of internet users equal to, if not greater than, that of the developed countries. With the rapid growth, ecommerce is set to play a very vital role in the 21st century. A legal framework for ecommerce should be provided by the government so that domestic and international trade horizons are expanded, and consumers are provided with all the protection they need.