Saturday, April 21, 2012

E-commerce is not a dotcom bubble; it’s here to stay and grow.

If an analogy is drawn between the evolution of an industry and the human life stages of infancy, childhood, youth and so forth, e-commerce, in India has at best just got out of the first stage and begun to take some sure-footed steps.

But it is growing fast – lately by leaps and bounds, it appears. Last year it grew by 55 per cent, which on the human scale, is akin to taking a leap straight from the crib to youth. Yet, with a turnover of Rs 76,000 crore today, e-commerce is far from its potential in the country.

Mind you, the turnover itself is not insignificant, in fact quite noteworthy, given that e-commerce, specifically e-shopping, is more like going on a date with someone chosen out of a brochure. The Indian mindset still largely banks on all the five sensory mechanisms while buying anything.

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