History Of e-Commerce In History

In 1991, when the Internet was not yet available in India, the notion of electronic commerce was born. However, by the late 1990s, an increasing number of individuals became aware of the Internet and were aware that transactions could be conducted over it.

Until recently, most Indians considered it a luxury. When the IRCTC developed an online reservation system in 2002, the public began to recognise the Internet as a valuable tool. People learned about Amazon, the world's largest e-commerce company, and this marked the beginning of e-commerce in India.

Flipkart was one of the primary firms that made a significant contribution to the e-commerce revolution in India. After then, the rise of ecommerce in India accelerated when Mukesh Ambani, the CEO of Reliance Industries, announced the launch of Reliance Jio a few years later. He handed away free SIM cards, and the Internet landscape in the country altered dramatically as a result.

With this, the user base in India increased, and individuals began to take advantage of the ecommerce business, positioning it to prosper in the future.

People can now get practically anything delivered to their home, including everyday necessities such as prescriptions, milk, and groceries, as well as electronics, with simple return procedures. The evolution of e-commerce in India has been fascinating up to this point.

DRAWING COMPARISION WITH UNITED STATE AND CHINA

India, on the other hand, continues to lag behind other countries such as the United States and China. According to a 2014 study by PWC, e-commerce sales in the aforementioned nations totaled more than $150 billion.

According to forecasts from Digital Commerce 360, online U.S. businesses would see a 44 percent increase year over year in 2020. Retail sales also increased to $4.04 trillion, the highest level seen since 1999. Online purchasing will account for 21.3 percent of overall retail sales in 2020, according to Digital Commerce 360.

The good news is that India's tourism business has exploded in recent years, due to industries such as travel, retail, clothes, durables, and electronics, among others. The company was also moulded by a number of different courier businesses.

In the following years, the same is expected to increase. People have shifted to internet purchasing because of the convenience and to preserve social distance after the epidemic hit the country. People now use the internet on a daily basis, and it is no longer a luxury for Indians in the middle class.

Ecommerce businesses increased their attempts to cater to the public, allowing middle-class Indians to cope better with the shutdown. They may even get medications, hand sanitizers, masks, and other necessities from the comfort of their own homes.

TRENDS TO KNOW IN E-COMMERCE

• We predict e-commerce to grow dramatically in the future years as the logistics landscape evolves and the general public's demand increases.
• The e-commerce landscape is already being shaped by technology.
• Companies must consider a number of things, including downstream parcel and huge fulfilment facilities and warehouses, as well as the deployment of cutting-edge technologies.
• In recent years, the number of firms using the virtual world to conduct their operations has increased dramatically. Even the main websites are shifting due to obvious reasons. The epidemic has had a significant role in the expansion of ecommerce players.