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Is e-commerce the future of retail?

Created by : Jayant Vishnu, Art Director/Sr Art Director, Creative  | 08 18 2010 09:42:31 +0000
Industry : Retail Chain/LogisticsFunctional Area : Channel Management(Sales & Marketing)
Keywords : e-commerce retail industry indian retail industry is e-commerce the future of retail
Activity:  356 views;  last activity : 04 08 2011 15:00:15 +0000

As online and in-store retailing converges with the growth of mobile networks, the daydream could become a reality. Via their smartphones, shoppers at retail stores will have the capability to check the Internet for online promotions, product descriptions and reviews by past customers.

Meanwhile, online customers will have access to software that allows them to “try on” clothing, or discuss a buying decision with contacts on social networking sites.  

So, is e-commerce the future of retail??

  
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Jayant agreed that e-commerce may have a prospective future but for now in India it doesn't have that lucrative future. we are still developing & our country people yet need to understand properly about e-commerce.

Making online stores more relevant to consumers depends on the amount of time, technology and investment executives are willing to spend on integrating and adding personalization to their sites. It’s a question of “just where does it fall in the mix? Unfortunately right now it gets pushed down. But the technology keeps improving and applications are getting better.”


By Purvi Ghosh, Marketing analyst, Percept Advertising  08 18 2010 10:07:24 +0000
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Undoubtedly YES. But having said that there is no denying that retail will flourish alongside e-commerce. E-commerce will grow fast in the next decade and will attract the busy rising middle class. The other day I was to send printed copies of photographs to my parents and other relatives. I only put online orders and paid thru my credit card. The photographs reached its destination. When these facilities become prevalent in retail they will be availed and admired by the next generation in abundance.
By AMITAV , Manager Operations Planning and Control & Technical), HINDUSTAN EVEREST TOOLS LTD  | 08 20 2010 10:47:48 +0000
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If anything which holds the promise of changing how people buy things in India is e-commerce. 33% of railway tickets in India are now sold through web! Not denying the fact that its a urban phenomenon, but well, we are talking about 327 million people! In a few years, all those items which do not necessarily require 'touch & feel' to buy them, will be bought through web/mobiles.
By Ulhas Ahirrao, Team Leader for Consulting, The Alchemists Ark  | 08 20 2010 06:55:13 +0000
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yes,e-retailing is the need of the hour as more DIGs(double Income Groups) families are coming into play the shoppers dont have time and parking space to visit the retail stores, while they can do multi tasking on net when they are purchasing something they can also show it to their family members sitting at distant places. but this segment is quite small at this point of time which is about to increase in near future manifolds
By Sonali BHardwaj, lecturer, K.P. College Of Management  | 08 19 2010 14:32:13 +0000
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Yes, I think it is.  New mobile capability, social networks and better analytics will play an important role in the future of the retail industry. Mobile will be a critical piece of retailing, even more so than shopping online. Mobile technology has not advanced to its full capability, but continues to evolve due to expanded bandwidth and increasing consumer adoption of smartphones.

As networks get better, it becomes easier for retailers to target customers based on where they live or shop, and to communicate with them in real time.
By Jayant Vishnu, Art Director/Sr Art Director, Creative  | 08 18 2010 09:42:31 +0000
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Penetration of internet is not that great, that any retailer can earn much from e-commerce. E-commerce mostly depends on niche categories in India like flipkart and infibeam. Most of our population has never heard about e-commerce, also our online payment options are unreliable, most e-commerce has now begin using cash on delivery, but it has limits. So until we have pervasive internet penetration with educated people and reliable payment options, its offline retail which is thriving.
By Abhijit Anand Prabhudan, Admin/Facilities Manager, Ca*****  | 04 08 2011 15:00:15 +0000
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Nope, like every new medium, this too will catch the fancy of marketers for some time and once another new medium gets introduced this too would be consigned to the also-rans.

The greatest limitation of e-commerce according to me is the fact that it doesnt allow you to physically try on products like garments or shoes. And these products garner the maximum trade for any retailer. Plus once security issues come up on e payments, then shoppers would naturally lose faith in the system.
By Jaygopal Raghavan, Marketing Manager, Landmark Group  | 09 06 2010 16:03:12 +0000
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E-commerce is one tool. Thats all. E-commerce store can never over take the kirana store guy. He will smile at you , he will say Namaskar, He can help you choose the best available in the stoe. He can deliver the goods the same day to y our house . But what can e-commerce store do ? Yes, ofcourse it has it's own advantage. But lets think practically, how many really use internet in India ? Still a long way to go.
By Guruprasad K Natarajan, Leader - Technology ( Products) , ABC Consultants Pvt Ltd  | 08 20 2010 11:22:19 +0000
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WE ARE VERY VERY LONG BEHIND AND IT MAY TAKE DECADES FOR THIS TRANSFORMATION.
By s.baalu , Consultant, XYZ LTD  | 08 20 2010 08:21:16 +0000
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Current stats say only 7-8% of the Indian population buys online, we still have a long way to go. Definately it has a great future in some product segments but Indian consumers still rely on touching and feeling the products before they actually buy one.Also security issues related to monetary transactions have to be addressed at a higher level.
By Omkar Nandi, Business Analyst Merchandise planning TARGET  | 08 20 2010 08:20:09 +0000
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