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TRANSCRIPT
E –Retailing & its associated paradigms: A study in India
*Er. Saurav Dey
**Dr. Debamalya Ghose
Abstract:
Standing on the Era of the great initiative of Digital India demands for a revolutionary change in
the technological infrastructure of the entire nation. Standing on this time where the plan is to
convert the entire monetary system of the nation into a digitized and cashless monetary and
transaction system . All these provides necessary support to the very nascent Online Retail
market in the nation which has got very high prospects of growth but still faced with many
challenges , obstackes, bottlenecks , constraints which needs to be addressed and answered
proactively.The critical aim of the article is to have a view on the opportunities and challenges
for the online retailers who are operating in the Indian Business environment keeping in view
that the E-Retail is the next booming future prospect of business in India which incorporates in
itself many things such as big-data analysis, artificial intelligence, smart logistics and many more
. hence , it generates a lot of employment opportunity for the Indian Youth too keeping in mind
that India is a relatively young country where a substantial percentage of the total population
falls under the age group of 25-35 years . Hence , this paper critically aims to highlight the
existing problems and the nurturing prospects in the area of E-retail. The knowledge of the paper
will help to eradicate the problems and find new areas of prospect in the domain of E-retail.
Keywords: E-Retail, Internet , Assortment, Logistics , Assortment
*Research Scholar, Department of Business Administration, Assam Univeristy, Silchar-788011,
Email:[email protected]
**Associate Professor, Department of Business Administration, Assam Univeristy, Silchar-
788011, Email:[email protected]
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INTRODUCTION:
The recent trend in digital marketing is showing a rapid increase in the sector of e-tailing. E-
tailing has contributed a lot in case of increasing the profitability as well as other marketing
aspects of various firms. This can be easily understood with the manifold increase in the country
in the domain of E-Commerce and M-Commerce in recent years . Digital marketing plays a very
vital role in case of survival in this competitive and technovative scenario.With the advent of
internet availability the market place is extended beyond traditional boundaries and is moved
from a temporal geographic location. Market space is created in such a fashion such that
shopping can take place anywhere. Customer convenience is enhanced and at the same point of
time shopping cost is enhanced. Shopping costs are reduced. India is showing tremendous
growth in e-commerce sector since 2014 . This growth is being driven by fast technology
adoption which is due to the increasing use of devices such as smartphones and tablets and also
with the huge scale availability of high speed internet availability due to the access points such as
broadband , 3G , 4G. This revolutionary increase in e-commerce sector in India is very well
facilitated with the emerging initiative of the Government of India named “Digital India”. Now
along with various multinational giants like Amazon, Alibaba are investing huge in case of
promoting their sales volume in comparison to the E-commerce companies of Indian origin like
Flipkart and at the same point of time this has also led to the increase in the use of various
multinational logistics company like DHL , Fedex and also various payment gateways and cards
of various international firms like VISA , Mastercard and also the recent card launched by India
which is RUPAY .So , with all these it is evident how E-tailing has become an important part
and parcel for any economy in this modern world.
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Need For the Study:-
In recent years a vital portion to the country’s economy has been contributed by e-tailing and e –
commerce .But, still there has been many challenges and uncovered areas in this domain , the
eradication and solution of which can result in the upliftment of the entire economy of the
country. Northeastern part of India being one of the most remote part of India is facing serious
problems due to geographical location , communication barriers and most importantly due to
unawareness resulting in fear and unwillingness of people for e-tailing. Inspite of having a good
prospect of market with a large number of people having the propensity to spend to a great extent
in e-tailing , the e-tailing market still has not been able to expand as much as other parts of the
country. With the advent of demonetization from 8th
November 2016 , the Government of India
is focusing extensively on Cashless transaction which is facilitated with the help of Card
Swipping Machines and various mobile and e-wallets such as Paytm . India has been exhibiting
a substantial growth in E-Commerce since 2010. Indiamart.com with the revenues of Rs 37
Crores and with an expansion of 50 percent per year is having 500000 number of visits per
month till 2010 which has increased manifolds in recent years. India , a country with about 289
million people falling in the middle class group has exhibited unlimited potential in the domain
of online shopping. The real estate prices in India are shooting the limits. Fee travel portals in the
online business contributed 50 percent to Rs 4900 Crore online markets in 2008-09 The travel
portals on India have reached Rs 1000 crores turnover which is about 20 percent of the total E-
commerce market in India. There is also an annual growth of 65 percent in travel portals alone.
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Literature Review:
With the advent of internet availability the market place is extended beyond traditional
boundaries and is moved from a temporal geographic location. Market space is created in such a
fashion such that shopping can take place anywhere. Customer convenience is enhanced and at
the same point of time shopping cost are enhanced. Shopping costs are reduced. India is showing
tremendous growth in e-commerce sector since 2014 . This growth is being driven by fast
technology adoption which is due to the increasing use of devices such as smartphones and
tablets and also with the huge scale availability of high speed internet availability due to the
access points such as broadband , 3G , 4G. This revolutionary increase in ecommerce sector in
India
Different Authors have defined E commerce in Different Ways
Wigand , R T (1997) observes “Electronic commerce includes any form of economic activity
conducted via electronic connections” . The definition of E commerce includes all those
economic activities that are carried out by an organizations electronically . The definition is not
complete as it fails to explain what those economic activities are.
The definition of EC by Electronic Commerce Task Force of the Government of Canada .
According to the committee EC is the conduct of business activities including production , sales ,
other transactions by means of advanced communications involving automated banking
machines , credit cards , debit cards , electronic data interchange and the internet . The definition
also describes the involvement of various advanced payment options involved in EC . It fails to
describe the benefits to business consumers by adopting EC
The definition given by U P Singh (1999) describes EC as “ electronic i.e. online and mainly
internet based methodology to address the need to business and consumers for cutting costs
while improving the quality of goods and services “ . Convenience of shopping on the internet ,
open for 24 hours a day , 7 days a week makes it further attractive . It allows people to transcend
the barriers of time and distance and take advantage of global markets and business opportunities
not even imaginable , opening up a new world of economic possibility and progress The
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definition describes further aspects of EC like convenience shopping , 24 *7 , global market
reach for both customers and companies .
Chary T S (1999) supports the view expressed by specialists referred earlier and describes EC as
the application of sophisticated computer technology for commerce through electronic media . It
is a marketplace where business is using marketplace where business is using the information
technology network computing to securely transform their business relationship and selling ,
buying the goods and services.
With the advent of the new concept of “Netizen” due to the widespread availability of internet ,
now a days Customers around the world can sit in the house and can accomplish what they
desire through a few mouseclicks and taps of keyboard.
AT Kearney’s 2013- global Retail e-commerce index stated that India has unlimited potential of
online retail. The substantial growth of online retail in India has got all the necessary potential to
add sufficient value to different stake holders of the Indian retail sector. The prospects of growth
online retail is substantially high in India. Inspite of such prospects, growth opportunities for
online retail are also accompanied with various challenges , constraints or obstacles which needs
to be addressed proactively and carefully.India has got various online retailers who facilitate and
provide a variety of merchandise to the consumers. The general sense of retail business is India
is presumed to be Business to Consumer (B2C). The classification of Online retail players
provides us with two types of category focused players and multi category focused . The
Category focused players are those who provide particular merchandise with deep assortment.
Example - Myntra , Jabbong (Apparels and Lifestyle products), Bigbasket , Local Banya
(Grocery segment) and Fabfurnish , Pepperfry (Furniture) , Carat lane , Juvalia and you
(Jewellery Segment). First cry , my baby cart (baby care product segment) . Multi category
players are classified as those who provides the consumers with a wide variety of merchandise
accompanied with limited assortment. Example - Flipkart , Snapdeal , Amazon. In order to have
a better understanding we may have a glance at some of the vital categoriesx and the major
online retailers/players in these categories. The retailers can be classified into categories such as
stationery , books, apparels, electronics , furnitures , sportsgoods , personal care , grocery ,
flowers, services.
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Moreover, a quick glance at the wholesale B2B market (Business To Business) provides us with
the names of giants like Wal-Mart which is functional at online space and the segment Customer
To Customer (C2C) has got in its lists the names of players like E-bay, Olx.
In the paper entitled “Probles and Prospects of E-Commerce”, Raghunath & Panga (2013)
presented a comprehensive analysis of various nuances of e-commerce while accentuating that,
in present time every business activity, be it advertising, ordering, payment etc, can be performed
in the digital ecosystem. The paper has also successfully enlisted various points on the
importance of e-commerce which are responsible for its development.
SWOT analysis of e-commerce which was being conducted by Awais & Samin (2012) has
highlighted ubiquity, low operating cost, improved customer interaction and time saving as the
points of strengths of e-commerce, but, with time there should be innovations in order to serve
the customers with newer & Better things each day .There has been an increase in the number of
players in the B2C segment, hence the competition for the best position will be intensified ,
making it extremely essential for the firms to enhance service quality and to invest in logistics.
(Das & Ara, 2015). In this era of rising competition the better survival of firms will be strongly
related to the efficiency the firms exhit in bridging the existing gaps in e-commerce transactions.
By doing this the firms can ensure better penetration into tier-2, tier -3 towns as well as rural
segmentation and hence business scope will be expanded .
Sl No. Category Major Players/ E-Retailers
1 Stationery Flipkart , Stationery shop , Snapdeal, Amazon
2 Books Flipkart, Amazon , Landmark , Naaptol
3
Apparels & Personal
Care Myntra, Jabbong , Zovi , Fashion and You
4 Electronics E-Zone , Flipkart , Amazon , Future Bazar , Naaptol , Infibeam
5 Furnitures Fabfurnish, Pepper Fry , Urban Ladder, Zansaar , Home Shop 18
6 Sports Goods Khelmart, Decathlon, Sports 365, Playground online
7 Grocery Big Basket, Local banya , Greenkart, Nature's Basket
8 Flowers Ferns & Petals, Tilia , Floraindia
9 Service Lenskart
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Keeping in focus the rise in the number of websites which are offering similar goods ,services .
Its internet marketing which has impacted a lot and has played a major role in the acquisition of
audience for e-commerce websites by displaying the advertisements on search engine
pages.internet marketing will not only prosper e-commerce but will also support the brick &
mortar stores to expand their business horizon(Gangeshwer, 2013)
In addition to Internet Marketing , Deshmukh , Deshmukh & Thampi (2013) identified another
important area which has got tremendous scope & potential which in nomenclated as m-
commerce and sometimes highlighted as subset of e-commerce . Due to penetration of
smartphone m-commerce is rising gradually and with a steady speed. “Transformation from
Ecommerce to M-commerce in Indian Context” which reviewed the present status of e-
commerce and mcommerce in the Indian market, recommended the latter as the potential future.
The paper highlights that ubiquity, personalization, flexibility and immediacy as the main
advantages of m-commerce.
Inspite of having innumerable prospects, the growth of e-commerce in India has not been upto its
complete potential due to certain challenges that inhibit the growth of firms. The growth of
digital commerce in India is hindered by inappropiate infrastructure, failure in logistical support ,
non-uniformity in tax and declining trend of margins. In this era of intense competition, firms
have to provide best service to their customers with attractive discounts & offers everyday,
liberalization in the returns policy which sometimes prove detrimental to their profits. In
addition to the above mentioned points the firms also have to provide subsidies & incentives to
their sellers for listing their products on their websites which proves detrimental sometimes for
the company. The increase in fulfillment cost which includes each and every cost incurred from
the point from which an order is placed until the time the product has reached the hands of the
customers . Moreover in Indian Context due to the geographical proximity and lack of proper
transportation infrastructure the last minute delivery has also given rise to increase in losses due
to reverse logistics. (Rina, 2016).
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Objectives of the study:
1. To understand the current scenario of Online Retail Business in India.
2. To investigate the major prospects and challenges for Online Retailers operating in India.
Scope:
The study is critically focused on the Indian Online Retail Market and its impact on the overall
Indian Retail Industry. The Scope of the study is restricted to the online retail market and the
various prospects and challenges faced by the online retailers in India.
Methodology & Data:
The study is based on secondary data collected from various sources such as journals , company
reports , company websites, newspaper and articles. Majorly review based methodology has been
used where the findings of various researches are synthesized in order to get a much brighter
picture of the domain of e-commerce and its problems and prospects in India.
A Bird’s Eye View on the Impact of Online Retail on the Organized Retail Sector of India
The Organised retail in India is still in a introductory stage with a retail penetration of 7.5% in
2013 (E&Y, 2013). The Online Retail contributes 7.9 % of organised retail and 0.5 % of overall
retail in 2013. The Segment has witnessed steady growth of 50-60 % with an expected value of
3.2 billion USD in 2014. The Online retailing has got significant impact on the sales turnover of
the brick and mortar stores. The Introduction of online retailers has promoted the rarest impact
which was witnessed with the entry of traditional retail players into online space. This fact is
evident from the trend of online store additions by traditional retail players.
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Note: Number of stores includes the Shoppers Stop Department stores and Speciality Stores ( viz
Home Stop , Mothercare , Crossword Bookstores, Arcelia , Mac, Clinique , Estee Lauder &
Airport Business) . It also includes stores of Trent and the ones operated by J V Inditex Trent
Retail India Private Limited.
Source : Company reports, CRISIL Research
A quick glance atthetrendprovides us with results that there
issteadyincreaseinthegrowthofonlinestoresbytraditional retailplayersinIndia.In the graph in the
portion2010-2012,the net storesadditions has got decreasing t rend butin the subsequent
year the trend can be observed as increasing.
Opportunities in India for Online Retailers:
The current Business Environment in India supports the growth of online business in India and
also promotes the online business with necessary inputs . So, we can easily say that the online
business in India has got the opportunity to expand itself.The various key reasons that contribute
to the growth of Online retailing in India are:
39
23
1
15
0
5
10
15
20
25
30
35
40
45
2009-10 2010-11 2011-12 2012-13
Net Stores Additions for Traditional Retailers
Net Stores Additions for Traditional Retailers
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1. A substantial increase in the number of Internet Users and online buyers:
The internet giant Google has observed that India has got around 200 million internet
users and the figure is expected to reach the paradigm of 500 million by the year 2018
which itself will be a great landmark and will provide a strong platform for the growth
and promotion of online business in India. The year 2013 has witnessed the figure of
15.13 million broadband connectivity and the government intiative to promote the
number of broadband users in the country is growing aggressively every year . The
forecast provided by Forrester’s Asia Pacific Retail predicts that 128 million will be the
online buyer population figure by 2018 and this is an encouraging factor for the
promotion , growth and development of Online retailing in India.
2.The Revolution of Smart Phone & Mobile Internet:
The Indian market has witnessed a substantial growth in the number of smartphone users
in recent years.In the year 2013 the number of smartphone users in India was 51 million
which has increased manifolds due to the widespread availability of cheaper smartphones
. the wide access to 4G, 3g has also supported the nurture of smartphone users in India
which has recently noticed a tremendous revolutionary change around the country due to
free internet sage with no charges provided by Reliance Gio.All these can be exemplified
as major causes for the promotion and upliftment of E-Retailing in India.
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Source : I-cube , IIFL, IAMAI, Caris, Ernst & Young estimates
3.Increase in the usage of Debit Cards , Credit Cards , Mobile banking for day to day
Transactions:
The figure of Retail Electronic payments was around INR 33.8 lakh crore in 2013 which
increased manifolds from INR 50000 Crore in 2004. The growth in Credit card usage is almost 7
times during this period and the figure of 2013 was INR 1.2 lakh crore. In case of Debit Card
Transaction the increase was almost 15 times and the value was around INR 74,300 crore in
2013. The analysis of the trend provides us with the conclusion that the increase in electronic
transaction in 2013 forms 57% of banking transaction as compared to 43 % of paper
transaction.The increase inregisteredinternetbankingusersinIndiaduring2013wasaround35%for
public sectorbanks25%forprivatesectorbanksand5%forforeignbankscomparedwith2012.The
emergence of Mobile banking in India has witnessed the growth of 30 million users in 2013
which was around 22.51 million users in 2012. With the introduction of two factor verification ,
OTP the security of online transaction has increased manifolds. This sense of security is an
enhancing factor for online users in the country.
6378
93
121
150
300
2 5 1230
65
200
0
50
100
150
200
250
300
350
2008 2009 2010 2011 2012F 2015F
Internet Users
Mobile Internet Users
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4. Rapid urbanization and rise in disposable income:
The expected increase in annual disposable income in India is at the rate of CAGR of 5.1%. The
2011 census exhibited an exponential growth rate of urbanization as 2.76%. India now has got
around 337 million people living in urban areas according to 2011 census. The 2011 census data
shows that the number of statutory towns has increased at the rate of 6.37 % during 2001-11.All
these factors encourages the growth of e-retailing in India.
5. Advancement in the fields of Artificial Intelligence & Big-Data Analysis:
The various concepts of artificial intelligence and big-data analysis are helping out the various e-
retailers to grow their business ,the concepts such as the four V’s of Big-Data analysis volume
,variety ,veracity ,velocity are helping the e-retailers in their daily day-to-day business operation.
Also the concept of Artificial Intelligence is also supporting the various e-retailers with fraud
detection & handling , supply chain visibility with which the online retailers are able to perform
much better .
6. Omnichannels :
The future lies not in traditional brick & mortar markets but rather market in online space .
With everyday increase in the number of online vendors , the consumers tastes and preferences
aare becoming largely fickle, turning everytime to the website offering more discounts and
offers. In such a competitive scenario, the survival becomes extremely difficult and can only be
ensured by increasing the number of touch points with the consumers in order to expand the
seller’s visibility. An example for this can be sited as in May 2015, India’s largest fashion portal,
Myntra has shut down its desktop website to become an app but, had to relaunch it in June 2016
due to customer attrition
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7. Niche Businesses :
As per a recent study conducted by Deloitte, “Future of e-commerce: Uncovering Innovation”,
highlights the new trend / culture of start-ups focussing on niche areas, that tend to serve
everyday purposes of the customers. In this age of giant marketspaces like Amazon and Flipkart,
which focuses on diversification by adding more products to their existing lines , firms like
Bluestone, Lenskart, Pepperfry, UrbanClap, OlaCabs etc. target a niche area, so that they can
offer a unique proposition.
8. Mergers & Acquisitions:
An emerging trend in the e-commerce market that can be witnessed is the acquisition of smaller
firms by the big market leaders, which helps to curb the competition in some way and at the
same time also ensures the survival of the fittest. Over the past few years that have been marked
by significant acquisitions, which have enabled firms like Flipkart, Snapdeal, Ola and others to
grow exponentially . WeRead, Letsbuy.com, Myntra are the names of some of the firms that
have been acquired by giant players like Flipkart. Another market giant Snapdeal has made
around 12 acquisitions since its inception. In the similar way other players like, Ola Cabs,
BookMyShow, Pepperfry etc. have also taken over lesser known players in the same product
category in order to hold their position in the market.
9. Focus on Services :
Owing to the tough competitive scenario the E-Commerce companies have identified and
understood the importance of service for business expansion and survival and this can be very
well witnessed with everyday improvement in service, returns and everypoint tracking &
feedback policy followed by the companies.
10. Better Infrastructure :
Due to the large proportion of the online traffic moving from desktop to mobile, ecommerce
firms have shifted to apps that consume less data and light mobile websites that provide a
seamless shopping experience to their customers and this calls for better It infrastructure in the
country.
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Challenges faced by Online –Retailers of India
Inspite of having various growth prospects the online retailing scenario in India is also
accompanied by various challenges which are:
1.Logistics:
Logistics serves as the backbone and prime factor responsible for the operational success of
online retailers in India. The country India is having a large geographical size and is fragmented
with poor infrastructure facilities. So, priority services and timely delivery serves as a major
constraint and challenging factor for online retailers operating in India. Moreover, lack of
adequate and sufficient infrastructure results in high logistics cost in India. This factor has
compelled online retailers like Flipkart and Amazon to construct their own logistics
section.Flipkart has the arm e-kart that takes care of its logistical needs and delivery process .
Many online retailers have got strategic tieups with logistics company. The biggest challenge
faced by logistic companies in India is the limited airline feet size of logistics company.This
particular problem is also supported by limited fleet of freight carriers which proves as another
obstacle. The limited technology investments and developments proves to be an important
blockage for logistics support in India.
Source: Plane Spotters website
Air Fleet Size comparisons Courier service providers of US and India.
India:7
US: 420
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2.Low Internet Speed:
India is facing the problem of slow internet connection which has got significant impact on the
prospect of online retailers in India. The average internet speed in India is less than 1 mbps
which is among the lowest in the global scenario.Due to this the online shopping sometimes
become tidious job for consumers. Moreover , India ranks 109th
out of 122 nations in case of
mobile internet speed.
3.Overcoming the mental barrier of touch and feel of Indian Customers:
Indian customers have got the typical habit of touching and feeling the product before purchase.
For overcoming this barrier the online retailers in India has started the sharing of specification of
each and every minute query about a product on their website.
4. COD and Management of Returns:
The emergence of COD as a preferred mode for online users has created various critical and
crucial issues for online retailers operating in India. Levy of extra charges by logistics providers
from the customers which affects the long term relationship between the company and the
customers. Delay in Remittances of cash collected by the logistics providers from the customers
also affects the working capital management of the online retailers. Another vital and critical
factor faced by the e retailers operating in India is the management of customer returns as many
of the logistics provider doesn’t have the facility and infrastructure to manage returns. Moreover
, this also incurs additional cost of e-retailers . For these reasons some of the e-retailers have
opened their own logistical wings so that they can take care of customer needs and the customer
loyalty and trust gets enhanced.
5. The policy of FDI in case of B2C e-commerce:
The FDI policy of India restricts 100 % FDI in Multi Brand retail which is applicable in case of
E-Commerce. In case of online B2B e-commerce 100% FDI is allowed but the scenario is not
the same in case of B2C e-commerce. For retailers working with brick and mortar operations 51
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% FDI is allowed by the government in case of B2C e-commerce . Hence , the recent scenario is
such that most of the retailers are following a marketplace model in which online retailers
provide platform for online buyers and sellers . This results in limited margin and restricted
control over the product , service and also the speed of delivery. This restriction with respect to
the FDI is harnessing the plans for growth and expansion of online retailers operating in India.
Conclusion:
The dynamic Indian retail sector has been witnessing revolutionary changes in the recent years ,
due to the wide availability of smartphones , tablets , laptops and internet facilities the growth
rate of E_retailing is almost 50 -60% and this growth rate is sufficient enough to provide a huge
contribution to the economy of the nation. But for proper capitalization and utilization of this
growth rate calls for immense improvement in infrastructure , business environment , policy
framework of the entire nation.
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