HomeStartupsSuccess of e-commerce startups make traditional retailers rethink business model

Success of e-commerce startups make traditional retailers rethink business model





Rise of e-commerce start-ups

Recently, leading Indian e-commerce brand Myntra was taken over by Flipkart for an estimated $300 million. This shows the inclination of Indian consumers towards online shopping. Online retail market is taking over traditional retail market for several reasons which vary from; easy return policy, free shipping, coupons, free gifts and many more. Just to get a gist about whether online retail market is taking over traditional retail market or not, few e-commerce names would do the job, such as Amazon, Staples, OfficeDepot, Reebonz, RedMart, Flipkart, Myntra, SnapDeal and many more. In recent two-three years, numerous such e-commerce sites have mushroomed online by giving intense rivalry to traditional business and are making a change into the very definition of shopping by alluring consumers with whooping facilities, discounts and above all choice of items just a click away.

Online Shopping Trends

Trend towards online shopping is now developing with uncommon pace as the trust of online purchasers is expanding gradually. If we talk about current conduct of Indian buyers, specialists have assessed that the pattern of e-shopping will boom in arriving years. There are MNCs keeping an eye on this trend, for instance Walmart is planning to enter into India with its online presence.

Early adopters have already started thinking on having their e-presence and making most out of the trend, and at the same time growing business by reaching to multiple consumers and widening the horizons and reach of their brands before they get outpaced by the relentless progress of e-commerce trend.

High Time to go online for traditional retail shops

Propelled innovations and web provisions with safe transaction certifications are giving the needed inspiration to the new age Indian purchasers to shop on the web. This era belongs to the generation who believes in utilizing their time at its best. Having products that you want to buy, right in front of your screen, and with quite less the hurdle, you can have it at your doorstep! This not only saves time, but also adds the level of comfort in life of the consumers. No queues, no time wasting in asking where to find what and no issues of change! Pay it online, get at doorstep (shipping/home delivery).

Traditional retailers seriously need to give a thought to this. If they wish to remain in business or say take advantage of the current trend of online retail market, having an e-commerce site for their business is must. And it’s not such a big deal to have one. There are web platforms from where you can avail ready-to-use ecommerce script to launch your own website in matter of days. You will have the replica of your traditional store in an online format in matter of a week or month’s time and then you will wonder why didn’t you jump in the trend earlier!

Interesting case studies understanding hot on demand startups:

  1. Uber business model
  2. OYO business model


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