( PR4US.com | Press Release | 2017-09-01 20:23:40 )
Mumbai, India – September 1, 2017 – Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘e-Commerce Market in India 2017’ (https://www.researchonindia.com/e-commerce-market-in-india-2062.html
). Rapid growth in consumerism and easy availability of services and products on the Internet is paving way for the Indian e-Commerce market.
Netscribes’ latest market research report titled e-Commerce Market in India 2017 describes the latest market scenario of the online space in the country. Currently, the Indian e-Commerce market is dominated by the online travel segment followed by online retail, online financial services and online classifieds market, amongst others. Factors such as huge presence of internet users coupled with a continual increase in purchasing power of the Indian population are primarily driving the growth of the market. Third-party logistics service or 3PL is emerging as a key growth driver for e-Commerce players in the country. The multi-mode transportation model of 3PL companies and product tracking at various checkpoints is easing the hectic affair for retailers and in turn enhancing the level of consumer satisfaction.
Majority of players operating in the market are facing dire lack of funds. Raising funds to support daily business operations and online advertising expenses have become a major challenge for them. Online retail operators, especially the inventory based players are suffering from cost stack ups and charges incurred for customers opting for ‘Cash on Delivery’. In an attempt to tackle these problems, players are constantly focusing towards gaining customer loyalty and trust. Several loyalty schemes, promotional offers and high discounts are some of the most prominent trends in the market. Additionally, changing business models and turning into mainstream online retailers, opening up ‘Brick and Mortar’ stores to tap the ‘offline’ customer base, opting for a ‘market place’ approach, consolidation and self-owned brands are some other major trends observed in the market. Notable e-Commerce companies in India include Flipkart, Snapdeal and Amazon India, among others.
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