Internet has impacted the lives of individuals on a large scale. Changes have taken place in the way we socialize, work or even shop. The emergence of e-Commerce has had a tremendous influence this way. We can hardly imagine ourselves to take the pain of going around the shops in search of a particular item we may need. Purchasing products or goods have become easier than ever before.
With more and more people having access to smart phones, there has been a rise in online shopping. Considering this, e-commerce companies invested their time and effort into digital marketing and online advertising to extract maximum profit. Traditional consumer shopping, definitely, contributed to increased digital modifications or improvements.
Over the past decade, the world market has witnessed emergence of numerous online stores. Each one of them, have unique or common genres. However, it would be wrong to say that every website made it to the top in a short while. Well, they had their bad times and worked their way towards the top.
A multinational e-commerce corporation, based in California has the reputation of driving its sales, by facilitating business-to-consumer and consumer-to-consumer, on its website. eBay started by being an online auction store as well as a shopping site, selling variety of products and services. Sellers are charged with a fee for listing their items on the website. For buyers, the access is of course, free.
eBay is more active in countries like US. For other countries like India, websites such as Amazon, seem to play more influential role.
One of the e-commerce giants, Amazon made an impressive entry in the market around 1995. Jeff Bezos, the founder, settled on the name ‘Amazon’. He was particularly interested in the place being different and exotic. Amazon started as an online bookstore and soon modified to offer video downloading, audio book downloads, electronics, furniture, apparel and much more. Now, the company offers Kindle e-readers, Echo, etc. The company makes sure that there isn’t anything which you wouldn’t find on Amazon.
However, some might find it difficult to handle the interface from their smart phones. The availability of huge range of products, under so many categories, can make things difficult to manage.
Walmart was built on the principle of establishing true leadership through willing service. This one deciding principle has worked for the company, in all these fifty years. Mr. Sam’s history is inevitably shaping the company’s future. The American multinational retail corporation heads a number of hypermarkets, grocery stores and discount departmental stores. But with the recent news, Walmart took a step forward in e-commerce, by signing a deal with Flipkart that gives it 77% of the Bangalore-based company.
Now, the question remains on the part of sellers active on Flipkart. Naturally, they are facing doubts as to whether Walmart would bring its private labels to Flipkart. This move would mean killing of small businesses.
The Chinese multinational e-commerce company inculcates retail, AI, Internet and technology to provide sales. Their way of carrying out business is through web portals, cloud computing services, electronic payment methods and shopping search engines. Alibaba is world’s one of the largest companies. Outperforming other prominent cloud players like Microsoft, Google and Amazon, Alibaba has showed its worth, recently.
In a country like India, Alibaba may find it difficult to get to the roots of consumer shopping. For everyday goods, other options like Amazon or Flipkart may seem to be more feasible an option to the consumers.
Future of e-commerce—
E-commerce is expected to be dominated by virtual reality in future. eBay was the first, to launch the very first departmental store based on virtual reality (VR). For making any e-commerce company successful, it is really essential to effectively shape its experiences, individually. It is vital for any company, to understand the requirements of consumers and keep updated at all times.
From the consumers’ point of view, e-commerce can be a boon or a bane. Like, it is really easy to access to hundreds of goods within a few clicks. On the other hand, online shopping can turn out to be a disaster at times. There might be quality issues, unavailability of return policy on all products, time-taking delivery, or unsatisfactory ROI. E-commerce companies, have to pay attention to their consumer complaints, in order to increase their effectiveness in the market.
By Raina Kushary (Senior Content Developer and Research Analyst @ Travarsa)