An Overview of Online Shopping Industry As It Stands Today

Online shopping as a form of wireless shopping has traversed a long way since the time of the English

entrepreneur Michael Aldrich, who is credited with pioneering this method of shopping. Whether it’s

B2B or B2C, online shops are here to stay. The largest online shopping day in the world ever

documented is Singles Day with sales at the Chinese e-commerce giant Alibaba alone estimated at

$9.3 billion this year.

Superior advantages

A reliable online shopping portal offers online customers superior advantages in diverse forms over

traditional shopping. Over the years, it has acquired a rich variety of products which makes it more

and more convenient. Omnichannel retailing or webrooming is an advanced stage of an ever evolving

online business. Till today, online shopping business hasn’t experienced any major blips, thanks to the

abled entrepreneurs leading it.

Strengthening of relationship

Technology has brought together business owners and consumers and cemented the relationship

between the two. No segment of customers is taken for granted today. Consumers have never been

engaged on a scale as it is at present. The convergence of social media and online retail business is at

its zenith. The empowered consumers make prudent purchase decisions, while retailers armed with

powerful insights strive for operational excellence.

Prepared to surmount challenges

Attracting and retaining consumers has become the primary responsibility of retail houses that open

the floodgates of online shopping filled with offers and opportunities at regular intervals. The current

breed of e-tailers is fully equipped with resources to navigate the challenges of an uncertain economy

and volatile market conditions. It doesn’t matter whether it’s organic growth or externally driven as

long as the business is able to deliver on customer satisfaction and goodwill. The quest for business

growth, expansion and consolidation overshadows any existing barrier.

Transformation in India’s case

We can be optimistic of the retail industry’s growth as today’s retailers are expert at circumventing any

threat, real or imaginary, to their business. In India alone, the online retail section has witnessed

major transformation over the last few years with double-digit percentage growth. The competitive

landscape here has reached its full potential developmental stage with many major players running

the show. Changing lifestyles and heightened level of Internet penetration play crucial roles in this

regard.

The online shopping industry still stands its ground and it’s expected to remain so. In the meantime,

it’s quite a pleasing spectacle to see who’s offering what and to whom.