How Online Shopping is Changing In India And Going Cashless
E-commerce industry is experiencing a fast paced growth in India. Now, most people prefer buying their favourite things online as it is much more convenient and hassle free. Be it clothing, accessories, jewellery, latest gadgets or even gifting, people simply log on to an online shopping site, add their preferred products to the cart, make payment and get them delivered at their doorstep.
The conventional mode of shopping from stores has taken a backseat since the advent of online shopping. With technology coming into the picture, shopping has become easier and faster.
As far as the overall e-commerce industry is concerned, there are a few trends that have been observed. COD or cash on delivery is the ideal payment method and is mostly preferred by the shoppers. As online shopping has evolved over years, we Indians are a little sceptical about the concept of prepaid orders and prefer to pay a nominal fee for availing the facility of cash on delivery.
Another major trend that has been observed in the online shopping realm is that most online shopping happens between office hours i.e. 9-5; this doesn’t mean that online shopping is preferred by working professionals only. This habit is taken into consideration and therefore the marketers heavily promote the products and offers during this time slot.
Earlier, people did online shopping on the desktop. However, with time, this has changed and now shop from their Smartphone. Most online shoppers have multiple online shopping apps installed on their phones and indulge in shopping. This is an instant hit as it is very difficult to spare time for shopping these days considering the hectic schedules.
Now, let us look at factors affecting the e-commerce industry. E-commerce industry has definitely grown leaps and bounds but still there are few factors that are affecting the growth of this industry.
- There is a large chunk of buyers who still want to buy their products after thoroughly checking and feeling it. But, online shopping as a medium lacks the touch and feel factor which has prevented a lot of people from entering the pool.
- Another major factor is trust. There are a lot of uncertainties even today in online shopping. There might be cases when a person has ordered a particular product and received something else in the shipment. If a person wants to try online shopping for once, these issues can definitely break the trust and make him stick to offline buying.
- Also, payment is a major factor. Most people are worried about paying the money online. While paying online, we all need a secure payment gateway which builds the trust.
- The latest trend is digital payments. There are several apps which provide a digital wallet such as paytm, Reliance Jio Money, payumoney, freecharge is platform that enables e-payments. India is soon going to be a cashless society with the revolutionary move the Indian government.