New Delhi: When internet came into existence, it was said that the innovation has potential to do what electricity has done to this world. The power of internet has so far fulfilled its expectations. It has connected the world like never before. As we moved into global era when geographies became history, internet was the tool to facilitate the process. It changed the way businesses were done. With the power to connect, communication became faster and world started to look a relatively smaller place.
As well, wide access to information empowered people. Information is now available at our fingertips. Today, you can get whatever you want on internet. Anything that is not available on internet indicates that the information is not relevant to the world. The dependence on internet is apparent from the fact that we browse it for almost everything that we need including work, education, entertainment, banking service, travel, shopping, communication etc.
UNCERTAINTY OVER E-COMMERCE
The facility of banking transaction from home provides a wide scope for online shopping to flourish. However, in the past there were serious concerns over the future of e-commerce because of its distinctness to the traditional marketplace. For so long, people were sceptical about the security of banking transactions taking place over internet. Experts were claiming that it is as secure as it is in the marketplace. They claimed that the probability of mishap happening over internet transaction is same as the probability of theft in the market.
Apart from the security of the banking transactions, eyebrows were also raised on how people are going to get the feel of the product by just seeing a 2D picture of the product. It seriously looked as big lacunae in the concept of e-commerce. Traditionally, people would walk into a shop and buy product of their choice after holding the product in their hands and this was missing in the idea of online shops.
SUCCESS OF AMAZON.COM
On the other hand, there were people who were still having faith in the scheme of online shopping. One such organisation was Amazon.com in the United States of America. The portal believed in the idea of “what you need is what you get”. It was the first online store to be able to sell almost anything under the sun. Today, the company is among one of the best companies of the world. But when we look back it looks amazing on the part of founders that they persisted with the idea of online shop despite waiting for ten long years to make the company breakeven. It is really commendable for the foresight and perseverance.
As well, the lack of time with the fast paced world left people with no choice but to turn towards internet to simplify their lives. It started to look more viable option but to wait in a long queue. As the time moved on and with lesser mishaps happening on internet, people’s faith started to grow on the idea of online shops. And once the people became ready to pay on internet the business of online shops found its wings. With no need of retail space in the heart of market, it reduced the real estate cost for the seller which provided sellers a window to make better offer price. Also, with online shopping products are delivered at the doorstep which also goes well with the people having less time.
GREAT ONLINE SHOPPING FESTIVAL
These days, online shopping has slowly entered into our lifestyles. It has come to the point that the first online shopping festival was organised by Google India on 12-12-12. Customers bought range of products to make Great Online Shopping Festival (GOSF) on first cyber Monday of India a grand success. It was seen that there were significant rise in the new online customers on the day leading to spike in online traffic.
New Delhi: When internet came into existence, it was said that the innovation has potential to do what electricity has done to this world. The power of internet has so far fulfilled its expectations. It has connected the world like never before.
As we moved into global era when geographies became history, internet was the tool to facilitate the process. It changed the way businesses were done. With the power to connect, communication became faster and world started to look a relatively smaller place.