Future of E-commerce in India

Dr. Urvashi Sharma*

Bhawna Rajput**

Abstract:

E-commerce stands for electronic commerce where business transactions are carried out using
telecommunication means, mainly by using internet. E-commerce is not only a way to support
existing business operations, but is has bought a paradigm shift in the world for trading. Growing
penetration of technology and acceptance of idea of virtual shopping has led to derive e-
commerce eco-system. With the deployment of internet connection, 3G and 4G
telecommunication services, broadband, laptop, smartphones, tablets acceptance of e-commerce
is increasing. The e-commerce story will surely witness a new world of digitalization. The
objective of this study is to highlight the growth of e-commerce in India, issues in e-commerce,
major players in Indian e-commerce market, analysis the present trends of e-commerce and
examines the future of e-commerce in India in terms of challenges and opportunities. For the
purpose of the study secondary data has been used including available research papers, articles,
journals, reports etc.

One of the major growth factor in India is the breadth of internet penetration in a country. India
has an internet user base of about 354 million as of June 2015 and is expected that it will cross to
500 million in 2016,which is the world’s second largest user base only behind china. At the same
time changing consumer lifestyle, supported by younger population base of India, where more
than half of total 1.3 billion Population falls under “below 25 years of age” brackets would aid
the future of e-commerce, driven by rising disposable income. According to joint ASSOCHAM-
Forester study paper (2016), India’s e-commerce revenue is expected to grow from USD 30
billion in 2016 to USD 120 billion in 2020 growing at an annual rate of 51%, highest in the
world.

Therefore, future of e-commerce is tremendous where many new players are entering the market
in different sectors and government is taking various steps to help the traders to expand their
horizons and to protect the basics rights such as privacy, prevention of fraud, intellectual
property, etc.

Keywords: E-commerce, Internet, technology, security, cloud computing.

*Associate professor,Department of Commerce,Delhi School of Economics, University of Delhi.

**Research Scholar, Department of Commerce, Delhi School of Economics, University of Delhi.
Introduction

With the emergence of internet and its commercialization, a new form of commerce which is
popularly known as “E-Commerce” has emerged in modern global economy. E-commerce is the
use of internet and other networking technologies for conducting business transactions. Unlike
physical exchange or direct physical contact such kind of business encourages business
transactions electronically. Further e-commerce not only involve buying and selling but it also
involve other activities like web promotion of products and services, invoicing and payment
online, dealing with customers queries online etc. Technologies that are normally used for e-
commerce include Electronic data interchange (EDI), electronic catalogue, electronic form,
finance and banking technology, electronic payment systems like smart card, fund transfer,
digital cash etc. Therefore, e-commerce include wide range of activates and applications. Based
on type of application e-commerce can be classified into following categories:
1) Business to Customers (B2C) - In B2C e-commerce companies sells their products and
services to consumers who are the end users. For e.g. Amazon
2) Business to Business (B2B) - In B2B e-commerce commercial transactions takes place
between two or more businesses without involving customers. For e.g. Alibab.com
3) Customers to Customers (C2C) - In C2C e-commerce, consumer sell products directly
to other consumer. A popular example of this is eBay.
4) Customers to Business (C2B) - In C2B e-commerce which is also known as reverse
auction or demand collection method. In this customers post their products and
services online on which companies can post their bids. A customer reviews the bids
and selects the company that meets his price expectations. Common examples include
online blog, Fotolia, Google adword etc.

Objectives
The objectives of present study are:
1) To analyze the present trends and opportunities of e-commerce in India.
2) To examine the factors leading to growth of e-commerce in India.
3) To examine the challenges and possible solutions of e-commerce in India.
4) To examine the future growth potential of e-commerce in India.

Research Methodology= For the present study secondary data has been used including
available research articles, journals, books, websites, newspaper, reports etc.

E-commerce in India
From a buzzword to reality, E-commerce in India has been experiencing an exponential growth.
Traditionally India is a country where most of the shopping is done in unorganized markets and
nearby store. The same Indian customers who were earlier satisfied with that, are nowadays
looking for easy and comfortable mode of shopping- resulted in quick growth of e-commerce.
Today people can shop from anywhere within minutes, be it home or workplace. The online
market space in the country offers wide range of products and services ranging from travel, hotel
reservation, matrimonial services, fashion accessories, electronic gadgets, virtual goods such as
books and music download, software, games and even groceries etc.
India’s market scenario, growing penetration of internet, broadband, 3G,4G services, laptops,
smartphones, tablets, with wide variety of customers and acceptance of idea of virtual shopping
has created E-commerce eco-system in India.
India economy has been continuously showing good growth sign, with average GDP growth rate
of 7.5% in 2015-16 ( As per ministry of statistics and programme implementation survey
2015).According to Forrester, the e-commerce market in India is set to grow the fastest within
the Asia-Pacific Region at a CAGR of over 57% between 2012-16. The Indian consumers are
rapidly adopting technology. While the overall tele-density is 83.36%, broadband subscription is
149.75 million as of 25th May,2016. Additionally, at the same time number of smartphone users
in India is expected to reach 204.1 million in 2016 from 76 million in 2013, and is expected to
reach to317.1 million in 2019 (As per statista 2016).This growth of smartphone users in India is
due to availability of highly affordable smartphone and easy to use features which helped first
time users to shift from desktop/laptop phase. At the same time internet penetration is also rising
with the number of internet users of about 354 million as of June 2015 and is expected to reach
500 million in 2016 (Wikipedia).

Status of e-commerce in India

Today e-commerce has become an integral part of our daily life. There is e-commerce
companies providing wide range of products and services then there are some which provide a
specific product accompanied with allied service.

Automobiles= Sale of automobiles in India is now going digital transformation. Many

interesting startups have come up in India over the past few years in auto sector like used car
marketplace, car insurance, online auto classified, roadside assistance, and car review and rental
services. Online car review is one of the important features of automobiles site. Few examples
include zigwheels.com, Gaddi.com,Carwale.com and OXL and quicker making the market for
used car.

Lifestyle= lifestyle also occupy a larger share in e-commerce industry. Offering various products
such as apparel- Men, women and kids, accessories, home décor, mobiles, books, gifts etc. Some
of the popular websites include Amazon, Myntra, Jabong, flipkart etc.

Real estate= Real estate e-commerce websites provides information on new properties as well as
for resale. Some of the services which are offered are housing finance, property management
consultant services, home insurance, home loan etc. Example of real estate sites in India includes
indiaproperty.com, 99acres.com, magicbricks.com etc.

Stock and shares= There are certain websites that allow the users to trade in various securities.
Some of the services provided by these sites includes buying and selling of stocks and shares,
market analysis and research, comparison of companies, research on equity and mutual funds,
tracking market trends etc. few examples of such sites include www.equitymaster.com,
www.5paisa.com etc.

Travel and tourism= E-commerce is bringing new opportunities in the growth of travel and
tourism. A major government of India portal, www.tourisminindia.com has wide variety of
information for tourist. Other services include passport and visa, weather information, festival
dates, travel and accommodation information etc. The entry of online travel industries such as
makemytrip.com,yatra.com etc. has revolutionized the travel industry by offering instant booking
and comprehensive holiday packaging and choices.

Matrimony= It is said that marriages are made in heaven, but in the world of e-commerce they
are made on marriage portal. These website provides services such as match making, astrological
services, information on rituals, legal issues etc. Few examples includes shaddi.com,
jeevansathi.com etc.
Employment= In the field of employment e-commerce companies are providing employment to
job seekers at the click of mouse for which nominal fee is charged. Few websites includes
monsterindia.com, Naukri.com, shine.com etc.
Growth of E-commerce

E-commerce has changed the way we live our life today, the history of e-commerce appear pretty
shortly but its history began more than 4 decades ago (refer table 1.).Prior to evolution of money there
was “barter” system involving exchange of things. With the evolution of money the concept of
“marketplace” came. After the evolution of marketplace, few pioneers realized that people would be
ready to pay extra if they could get the products delivered at their doorstep. And therefore the concept
of “street vendors” came. When postal system came the sellers decided to capitalize on new
opportunity and started using mailers to give description of their products. From there “Tele shopping”
network was evolved with development of media vehicle. The latest generation of commerce is e-
commerce where sellers and buyers can come together to purchase and sell the good and services over
the internet.
Table 1.Technology advancement and emergence of e-commerce

Year Technology Function/use

late 1970’s EDI-Electronic data Electronic transaction and electronic exchange of
interchange, information could be made.
EFT-Electronic fund transfer.

ARPANET (Advance research Pioneering network for sharing digital resources among
1971 or 1972 project agency network). geographically separated computers in US became the
foundation for internet today.
First web browser, world wide
web created by Tim Berners- Internet is opened for commercial use, e-commerce become
1990-1991 Lee opened for commercial possible.
use.

1994 Netscape Netscape released navigation browser named Mozilla.

1995 Internet in India VSNL formally launched Internet for public use in India.

1996 Online banking ICICI is the first bank to champion its usage and introduced
internet banking in India.
2000’s Many e-commerce companies
entered the Indian marketplace India times shopping, EBay, Flipkart, Myntra, Snapdeal,
and people began to get aware Jabong, Amazon etc.
of e-commerce.
E-commerce Giants in India : There are hundreds of e-commerce websites in India.But following is the
list of game changers in the industry.

Companies Description

2000: Indiatimes Indiatimes is an e-commerce devision of times of India group,it started its operation in
shopping 2000 beign one of the ealiest e-commerce companies in India.

2007: It is an e-commerce company founder in 2007,has launced its own product range under
Flipkart.com “Digiflip” with the product including tablets,USBs, laptop bags.In 2014 acuired Myntra for
Rs 20 billion.

Indian e-commerce company of fashion and casual lifestyle products started in

2007: Myntra 2007.Merged with flipkart in 20014 to compete against amazon.

2008: Homeshop Homeshop18 is an indian e-commerce company which is an retail venture of network 18
18 group,which is owned by reliance industries.Started as a television channel in
2008,homeshop18.com website got launched in 2011.

2010: Snapdeal is an online marketplace stated in february 2010. It won re hearing asia award in
Snapdeal.com 2011.Now it has become a multimillion company in online retailing.

Indian e-commerce website launced in 2010.Stared by offering mobile recharges,bill

2010: Paytm payments and also offers products similar to flipkart.com,amazon.com.

It is an india fashion and lifestyle e-commerce portal founded in 2012.In 2016 flipkart
2012: jabong.com acquired jabong through its unit myntra for about $70 million.

Amazon is an american e-commerce company started in US in 1994,it entered in Indian

2013: Maket in 2013.Started as an online bookstore,now diversified into wide range of
Amazon.com products.Amazone has grown really fast in India and has become one of the revail of
flipkart.

Ebay.in Ebay ia an american e-commerce company started in 1995 in US, provining B2B,C2C
services through internet. Later launced ebay.in in India to cater to the needs of indian
market through baazee.com
According to a research done by Forrester, a leading global and research advisory firm e-
commerce market in India is set to grow at a CAGR of over 57% between 2012-16 which is the
fastest within the Asia-pacific Region. It issued a report titled “Asia Pacific Online Retail
Forecast, 2011 To 2016”.Forrester Research’s Projections for Asia-Pacific e-commerce sales by
countries (in billion, in U.S. dollars) in 2012 and 2016 are given below:

According to RNCOS a market research and Analysis Company, the Indian retail market shall
grow at a CAGR of around 39% during FY 2013 to FY 2016, because of the growing culture of
smartphones and tablets. According to the research the major factor deriving online buying in
India include cash on-delivery facility, discounts & offers given by online retailers and changing
and busy lifestyle in metros.

Factors deriving growth of E-commerce in India.

 One of the factor that is leading to growth of e-commerce in India is changing and bussy
lifestyle,nowdays people hardly find time to go out and shop.E-commerce offered the
convenience of shopping where the people can sit comfortably at home and can get wide
varity of products under one roof and thereby eliminating the need to stand in
queues,travel time and cost.This changing lifestyle of country’s urban population and
rising disposible income increased the dependency on online medium which led towards
the growth of e-commerce.

 Another reason for the growth of e-commerce in India is rising internet user base,where
larger percentage of population is subscribing to broadband internet, rising 3G internet
users and recent launch of 4G across the country.According to Internet world stats
internet users for the world for 30th jue 2016 is estimated a below:
 Availability of wide range of products as compared to traditional brick and mortar model
has led to growth of e-commerce. People online can easily search products of their need
through a large databse of the products, can see the price and compare the prices with
other products offered by other retailers online,which is much simpler then brick and
mortar stores.Many websites also provides the facility of buying and selling second hand
products like OXL, Ebay etc.

 Emergence of smartphones and tablets along with drastic reduction in rise of PCs and
laptops has transformed the way people use internet today, this also led to growth of e-
commerce.According to counterpoint research report (2016),India has become the 2nd
largest smarphone market in terms of active unique smartphone users crossing 220
million users in 1st quarter of 2016, surpassing the US market.One of the reason for such
growth is increasing penetration of affordable smart mobile devices in the country.

 Great customer experience and competitive prices is also another important feature
deriving growth.E-commerce facilitates comparision shopping i.e.
 products,prices,features and other parameters could be compared by the customers within
a paricular site and also with other sites. Online retailers also offers various
deals,offers,coupons,opportunity of customization,cash on delivery facility, replacement
policies that attracts a lot of customers to these online websites.And also Indian
customers have matured over the years and increased their acceptance for various
payment approaches such as net banking,debit card,credit card, e-wallet etc.Thus,owing
to acceptance of online shopping as safe shopping medium e-commerce horizon has
expended.

An American Express-Nielsen (2016) conducted a survey to look at the mindset of online

customers in India and found that 70% of Indian customers across the various cities
prefer using plastic money over cash on delivery.

 Increase in income level and disposible income with improvement in standard of living of
Indian customers increased the probability to turn towards e-commerce.According to
Trading Economics global macro models and analysts disposable personal income in
 India is expected to be 147960218.03 INR million by the end of 2016 and is expected to
rise to around 231000000.00 INR million in 2020.

 Many e-commerce sites like Amazon, Jabong, and Flipkart have launched in India with
an intention of staying in Indian e-commerce market for long term perspective. This
created a strong competition among the rivalries and gave many alternatives to
customers. Sectors like travelling and retail have been the two major successful sectors in
the field of e-commerce and their success induced the other sectors to enter the India e-
commerce market as well. According to the study conducted by the Internet and Mobile
Association of India, the e-commerce sector is estimated to reach Rs.211,0005 crore by
December 2016.Study also indicated that major contribution in Indian E-commerce
market is of online travel, which account for 61% of e-commerce market.

Cloud computing and E-commerce

Cloud computing means storing and accessing data and programs over the internet instead of
computer’s hard drive. In other words it is a practice of using the network of remote servers
hosted on the internet to store, manage and process data, rather than using a local server or a
personal computer.

Cloud model: There are three cloud models that are commonly used.
1) Software as a service (SaaS) = In this the users or businesses can subscribe to access
the application software and database. In this the cloud providers install application
software in the cloud and cloud users access the software from user client. This reduces
the operational cost as cloud users do not manage the cloud infrastructure and platform
 where the application runs. Example of this model includes salesforce.com, Google
Apps etc.
2) Infrastructure as a service (IaaS) = Infrastructure cloud allows the users to access
storage, processing, networking and other computing resources. Cloud providers provide
these resources on demand from their large pool of equipment installed in data centers
.Example of this model includes Amazon’s elastic compute cloud.
3) Platform as a service (PaaS) =In the cloud companies offers a development platform to
the users where the business can create their own custom application for use in the
company without the cost and difficulty of buying and managing the underlying
hardware and software. For example Google App engine, force.com etc.

Cloud computing has revolutionized the way e-commerce companies operate today.This
technology has transformed all the IT operations with drastic increase in productivity.

1) E-commerce companies by using cloud computing can reduce the cost involved in
purchasing hardware and software as companies can rent rather than system building.
The charging mode of “pay-as-service” is very flexible, which helps an e-commerce
company to pay for the resources based on the demand.

2) Cloud computing enables the e-commerce companies to make efficient utilization of

idle resources. Businesses can integrate the ideal IT resources on the far-end platform
and rent them to customers which help n reducing operation cost and prioritize resource
allocation.

3) Cloud computing provides flexibility and sclability.There are seasons when e-

commerce companies experience heavy traffic such as holiday, sale, etc. In such
situations cloud can scale up when necessary and scale down thus reducing cost.

4) Anytime anywhere accessibility of cloud allow the users to access their data from any
location anytime by using a standard web browser. This saves the cost to set up
expensive equipment for in-house system.

5) A cloud service provider also ensures strong security to protect the data. Many
providers go for various types of security audit, data encryption and for ISO 27001
certification to prove their worth to customers. In addition to this companies can also
use hybrid cloud computing model wherein companies can store the sensitive data
securely in private cloud while storing public data in public cloud

6) Use of cloud would also help the business organizations to improve their internal
processes, concentrating more on core competencies, improving quality of products and
services etc.
Therefore, emergence of cloud computing has opened a new service ecosystem and helps e-
commerce companies to make more efficient use of their IT hardware and software investments
and a means to accept the innovation.

Challenges in growth of e-commerce and suggested solutions.

1) Logistic issues = Logistic is one of the foremost hindrance of e-commerce in India. There
is not much facility of delivering goods in remote and rural areas. Issues like lack of
supply chain integration, high delivery charges of products and delay in delivery also
frustrate the consumers this issue can be addressed by regionalization. Possible solution to
handle the problem of logistic include:
 Currently courier companies handle logistic services in India that has limited
reach. To tackle this situation e-commerce companies could start their own in-
house logistic operations. For example. Amazon started its own logistic arm that
is Amazon transportation services private limited.
 Services of Indian post can be used to handle the problem of last mile delivery
 Automated Guided vehicle (AGV) could solve many logistic problems of e-tailer.
For example. Amazon prime is working on its drone based delivery of its
products.
 Setting up of small distribution centers and efficiently using GPS- based devices
could solve many of the logistic issues.
2) Trust issues = Indian customers are still reluctant to purchase the products online. They
are often reluctant to disclose their credit card and bank details online due to fear of online
fraud. To address this issue the companies should be open for all payment gateways like e-
wallets, COD, prepaid cards etc. And there is also a “Touch and feel factor” that Indian
customers are more comfortable in buying physically than online especially for products
like apparel, jewelry etc. Thus trust is one of the issues that need to be addressed.

3) Cash on delivery is preferred payment mode in India= In India, most people prefer to
pay on cash on delivery basis and for e-commerce companies manual cash collection is
quite expensive, time consuming and laborious. According to statistic the most popular
digital payment method in India in 2015 is cash on delivery accounted for 57% of all the
digital shopping transactions.( Sources:
A.T. Kearney; GfK; Google).Emergence of cashless payment system can boost the e-
commerce sector because that can significantly reduce the cost and time of e-commerce
companies. With the introduction of financial inclusion project of government of India
more people shall have banking access, mobile wallet launched by digital companies like
paytm, mobikwik, Apple pay, Google wallet are user friendly and secure . Therefore
online players should spread awareness of benefits of cashless payment to encourage the
customers.
 4) Indian customers returns much of their products they buy online= Indian e-commerce
has lot of first time buyers who come to site to try the products and most of the time return
them. Managing returns involve a lot of cost for sellers and e-commerce marketplace.

5) Tax Structure= Tax rate system in India is another major factor in growth of e-commerce
in India as compared to developed countries like USA and UK. In those countries tax rate
is uniform for all the sectors whereas in India it varies from sector to sector. This creates
accounting problem for Indian online businesses. Also there are no special provisions for
taxation e-commerce companies in India. There is lot of ambiguity in applicability of
withholding provisions. GST when implemented is expected to impact the e-commerce
positively through simple interstate-goods, uniform tax structure, merchant compliance
and easier tax refund, by eliminating the incident of double taxation etc.

6) Privacy = Privacy is a major issue that need to be addressed. Customers are much
concerned about sharing their information because of the fear of cyber-crime. There can
be server risk, data transfer risk, financial fraud, reputation damage, Destruction of critical
infrastructure etc. Some of the recommendations towards an effective security solution
could be:
 E-commerce companies should set their risk appetite and set strategies
accordingly.
 Companies must fully integrate cyber risk management in their IT discipline and
it should be made an enterprise-level issue and e-commerce companies could also
source this task of risk management.
 Prepare for cyber-attack by restructuring security data, penetration game etc.

Future of E-commerce

In India which is seventh- largest by geographical area, second most populous country, and the
most populous democracy the future is e-commerce is tremendous. E-commerce has reduced the
gap between the manufacturer and consumer. In India there is vast scope of e-commerce because
internet penetration in India is 36.5% as on 30th June 2016 (As per internetworldstats.com) and is
increasing at a faster rate. According to statista the retail e-commerce sale compound annual
growth rate from 2016-2020 in selected countries shows that Indonesia will rank first in terms of
e-retail development with a growth rate of 18.82% in projected period. India is ranked second
with an retail e-commerce CAGR of 16.98%, followed by Mexico and china with the CAGR of
16.57% and14.28% respectively. Changing lifestyle, rising internet penetration, increasing
disposable income are the major factors that will lead to growth of e-commerce in India. E-
commerce market is largely driven by innovation and continuous technology led solution and
these are expected to continue in future. Some of the innovations that are likely to positively
change the future of e-commerce in India include:
1) Innovation in payment= Use of plastic money and increasing use of digital wallet
together with newly introduced Unified payment interface (UPI) shall foster innovation in
 payment and can also make cash on delivery seamless by cashless fulfillment at the time of
delivery.
2) Delivery model= Keeping in mind the “traffic” situation in India’s metros leading to late
delivery. E-commerce and logistic service providers are exploring new methods of delivery
such as Drone delivery ,taking delivery form nearby kirana stores e.g. Amazon kiranaNow
in Bangalore, crowd-sourced delivery model e.g. Flipkart has tied up with dabbawalas in
Mumbai for last mile delivery, etc.

3) Artificial Intelligence and the use of Drones – Managing the supply chain logistic to
provide on-time delivery especially during festive season is a challenge for e-commerce
companies today. Solution for it is drone delivery such as amazon prime Air is working on
drone based delivery of its products. Also artificial intelligence (AI) is also transforming
the e-commerce industry that could enable the users to discover what they are looking for
with the click of mouse seamlessly.
4) App only approach= Expert suggest that the future of e-commerce lies in mobile. Around
279.5 million people in India accessed internet through mobile devices in 2015 and this is
expected to increase to 524.5 million in 2021 (As per statistic digital market outlook). The
mobile applications in India are helping e-tailers to reach more customers located in even
rural and remote areas. Customers can get alert, updates, view product catalogues, place
order and pay by simple mobile application.
5) Digital advertisement= Digital advertisement is flexible and can be used for any kind of
devices and goods. The ability to customize the ads for target audience, increasing
engagement and loyalty and tow way interactive opportunity make digital advertisement
more effective.
6) Search Engine Optimization (SEO )= SEO are the set of rules that the website owners
could follow to increase its search engine ranking for web promotion. With thousands of
products that are there in the digital catalogues could be made visible with the help of SEO
technology. Search engine bots prefer websites that are updated, error free, with content
etc. Therefore, e-tailers should increase the critical aspect of their online store to make it
more search engine preferred and thereby derive more motivated buyers to the website.
Conclusion

As a concluding note E-commerce is a future of shopping in India and is continuously changing

the way people buy and sell products and services today. Future of e-commerce in India would
be bright if some of the concerns related to weak cyber law and basic rights such as privacy,
intellectual property, prevention of fraud, consumer protection etc. all are taken care of. As
pointed out in the present paper there are various factors that are leading to growth of e-
commerce in India including changing lifestyle, growing penetration of internet, emergence of
smartphones, tablets ,3G, 4G etc., increasing disposable income of people in India etc. Although
Indian customers are adopting the idea of online shopping but still they show disinclination
towards e-commerce to some extent. Therefore e-commerce companies with better offers and
services, replacement guarantee, problem of logistic, multiple payment system, dedicated 24/7
customer care service, online payment fraud being solved, by creating trust can reduce the
hesitation of customers. This paper also showed how cloud computing is transforming the way e-
commerce companies operate today by offering various benefits. Thus, in India future of e-
commerce is tremendous.
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