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Online business in India is flourishing. It is, therefore, India is becoming a new hub for eCommerce businesses. The rapid development of telecommunication and technology has changed our lifestyles. It has affected the purchasing process and the consumer’s interest in online shopping. The intense mobiles and internet usage have made India 2nd in the world after China. The most successful form of eCommerce in India was the business to consumer eCommerce (B2C). Now the Indian eCommerce industry is focused on transactions between businesses to business eCommerce (B2B). This shift has grown eCommerce in India to different horizons.
There is a huge potential in India for eCommerce with the availability of free eCommerce website software. Young entrepreneurs are advancing in starting the new business and becoming a productive part of the country’s economy. There are many reasons for the success of online business in India.
Easy Access to the Internet
What not is possible with the access to the internet? The Internet plays a vital role in making our world globalized. There are endless possibilities for exploring and flourishing businesses. It provides a great opportunity to communicate with anyone around the world. The Internet provides a quick passage to the businesses to achieve their goals in less time. The integration of your business on different free eCommerce website software platforms can attract more consumers than a normal brick and mortar. The internet usage is growing fast in India with adding around 6 million new entrants every month which have increased its power to grow online retail businesses.
Having mobile phone these days is a basic necessity. Usage of the mobile phone in India is lower as compare to other developing countries. But it has tripled its eCommerce growth within 5 years and is expected to grow more in coming years. About 49% of the Indians reported that they had online purchases via their mobiles in 2016. This trend makes India one of the leading digital markets for mobile eCommerce penetration.
One of the major reasons for the success of the online business in India is the low wage rate. Online businesses already cut the labor cost as most of the business processes are done virtually. Indian’s are focused on educating themselves and studying information technology, they can see the potential of it in the future. India is young, about half of its population is under 25 years of age. They are equipped with the skills which are required for the booming economy. The major success point is its affordable wage rates. These affordable wage rates help business in utilizing best resources at less cost.
No doubt that internet access provides a worldwide market to a business and increase the number of potential customers. The beauty of online business is that it runs 24/7 without time limitations and has no geographical boundaries for your business operations. The Internet provides you a superfluity of targeting specific countries, states, regions, and areas. The great thing about eCommerce in India as well as in other global market is that it’s huge with the endless opportunities and possibilities of growth for a business.
In near future, we believe that all brick and mortar business will shift to online businesses. Technology advancement such as free eCommerce website software, and shifting consumers buying behavior has made the future bright for India’s retail businesses to go global.
High Margins and Low Overhead
Usually, brick and mortar businesses are a headache to run. There are many costs associated with it such as retail shop space, expensive office, stocking inventories, and labor are the main concerns. The online business allows you to eliminate those huge costs and hassles. A drop shipping method reduces the financial risk and allows you to maintain your profit margins and reduces upfront cost.
Free eCommerce website software
While talking about the factors which help Indian eCommerce industry to flourish, free eCommerce website software is the next level things. Who wouldn’t like to avail this opportunity to grow widely across the globe freely? New eCommerce platforms are establishing a ground for businesses to stand firmly on it.
Time Over Money
You can start your online business in no time by spending just a little money. This is one of the perks which are being offered by these eCommerce website builders. Free eCommerce website software is a great opportunity in boosting your business by spending less time or money in setting it up. It allows you to manage things virtually and focusing on making business networks. Indians understand the value of time to compete with developed countries. They are interested in spending money to save their time and flourish their online business in India and around the world.
Go Beyond the Boundaries
There are many places and towns in India which have no supermarket or other big retailers. People of these far-flung areas buy products online from a wide range offered by online retailers and receive at their door step. Between 2008 and 2011, the income per capita has risen by 12% in India which shows it is growing richer. It is increasing the potential for online business to establish and grow in India.
International eCommerce Giants Stepping in India
With the international eCommerce giants stepping in India like Amazon and eBay, has increased the pressure on domestic online retailers. Flipkart and Snapdeal are two leading eCommerce marketplaces to compete with them. The competitive environment helps the market to flourish and expand. The potential for online business growth in India has pulled in many big international investors. Free eCommerce website software is helping India to build its retail infrastructure and spread geographically.
The global retail markets are welcoming emerging online businesses. Free eCommerce platforms are enabling online businesses to start with the low budget and generate more profit. Tibolli.NET is a great opportunity for Indian’s online business to spend minimal money and start their business efficiently and effectively.