Project report for ecommerce
India has an internet users base of about 475 million as of July 2018, about 40% of the population. Despite being the second-largest user base in world, only behind China (650 million, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54 M, 81%), but is growing at an unprecedented rate, adding around 6 million new entrants every month. India's e-commerce market was worth about $3.9 billion in 2009, it went up to $12.6 billion in 2013. In 2013, the e-retail segment was worth US$2.3 billion. About 79% of India's e-commerce market is travel related. According to Google India, there were 35 million online shoppers in India in 2014 Q1 and was expected to cross 100 million marks by the end of the year 2016. CAGR vis-à-vis a global growth rate of 8–10%. Electronics and Apparel are the biggest categories in terms of sales. According to Google India Research, by 2021 India is expected to generate $100 billion online retail revenue out of which $35 billion will be through fashion e-commerce. Online apparel sales are set to grow four times in the coming years.
Product / Services & process
The company focuses on Retail Business before expanding into other product categories such as Home furnishing, fashion, and lifestyle products.Firm is planning to sell high quality imported fashion products, mobiles, electronics, home appliances, & furniture. etc. The company is planning to sell high-quality items at an affordable price. The vast improving consumer base of Flipkart, Amazon, snapdeal like platforms are ideal for selling these kinds of products. Flipkart, Amazon, Snapdeal, Paytm, Shopclues, Myntra, Jabong, YepMe, Voonik tc were the leading providers identified and planning to sell through these platforms.
Market potential & Strategy
India has the fastest growing online retail market among top global economies. The country’s online retail market witnessed a compound annual growth rate (CAGR) of 53% for the period 2013 to 2017. The rapid growth, albeit over a small base, has been driven by aggressive discount-driven e-commerce marketplaces, advances in delivery infrastructure and increased smartphone penetration and data usage. Retail ecosystems comprise communities of consumers, retailers etailers and partners that rapidly reshape the retail landscape. A fast-growing economy and robust demographics provide a positive outlook to the consumer businesses in India.
Firm's products are looking to sell purely through the online media. With the invent of Jio fiber optics by 2019 September the online penetration in India will reach three-fold increase. The firm is planning to sell high quality imported fashion products, mobiles, electronics, home appliances, & furniture. etc. Flipkart, Amazon, Snapdeal, Paytm, Shopclues, Myntra, Jabong, YepMe, Voonik tc were the leading providers identified and planning to sell through these platforms. .The marketing is planning through social media and digital marketing. Providing sufficient discounts and providing proper customer service will help the firm to achieve the success very easily.