E-commerce (electronic commerce or EC) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. - techtarget.com, 2016.Even though trading over the Internet is almost thirty years old, its popularity over the past ten years has been great and has seen many players enter this ludicrous market and disappear overnight. It has not been a bed of roses all the way.
Click here for my presentation in the class analysing the reasons behind it..
|Major and minor Indian e-commerce players, at least 14 and many more ..|
The more competitive the ecosystem, the more casualties we can expect. Since it is accepted that Indian e-commerce market is the most populated with maximum number of entities vying for a piece of the pie, it will only do good for the industry in the long run. Just like the telecom market in the country presently being the most competitive in the world where the global majors like China mobile or Vodafone dare not enter and commit harakiri, the e-commerce market can also be expected to be the most competitive.
Since Alibaba, the $480 billion retailer from China and Amazon, $250 billion retailer giant from US are here to stay, e-commerce as a field is to stay, but needs a real cleanup and it will happen pretty soon. The companies cannot afford to bleed for long ! The Indian scene is pretty bad and at the same time we believe it holds the maximum promise in the long run.
Alibaba and Amazon, please stand by ! The bloodshed in the Indian market is on and shortly one can expect peace to return .. If one succeeds in the Indian market, he/she can succeed anywhere in the world.