Is online shopping make you Happy ?
India is one of the country where shopping for household items are done conventionally by visiting the nearby provision shop , small market or a store . India have 20 millions small shops and about 275 shopping mall. Majority of Indian buy their day to day items of use from a nearby shop .
With new generation GEN-Z , the method of shopping is changing from a visit to the market to ordering online. This is the result of internet revolution. Internet was launched in India in 1995 , and first online shopping started in India by India-Plaza company in 1999. 20% Indian did shopping online in 2022 by spending aprox 14,000/= per year. In India biggest player for online shopping are Amazon , flipkart , Myntra and snap deal and many others. Amazon is most popular as they sell all type of items with multiple options .
In 1979 Michael Aldrich started e-commerce site using TV to Computer order system. Boston computer exchange was established in 1982 for computer selling in USA. Amzon was launched in 1995 in US and in 30 days it start supplying items to 45 countries. On the invent of smart phone in 2007 , the online buying has become more easy . By click of a button you can order anything on line using smart phone. About 2.6 Billions people in this world did online shopping in 2022 ie 33% of world’s population. Amazon is a world leader on online sale with a worldwide turnover of $514 billions in 2022 . The annual growth of online sale is 5-8%. American do 10% shopping online and in UK 20% shoppers buy items online.
Imagine you wanted to buy some item for your house, and to buy that particular item you need to drive for 30 KM on a congested road , look for parking for your car and then buy that item in the crowded market doing lot of bargain with the shopkeeper. For you it will takes 2 hour to buy the item and bring to your home . Isn’t it very tiresome ? . But if you buy the same item online , it will be delivered to your door step within 2-3 day fully packed . So which is easy way to shop – Going to market Or online shopping ?. But there is still advantage and disadvantage to do online shopping as per table below –
With the annual growth of 4% in online shopping in India , by 2030 half of the Indian will be doing shopping on line. The cashless transaction as promoted by the Govt may be making the shopping easy but it will result in un-employment as the supply chain will have less handshakes as per table below. With the shorter supply chain cycle for online shopping, it can result in to saving of 5-10% to the consumer.
As the craze of online shopping is increasing , this has affected the business of small size super markets which so far have been prominent point to shop in a Bazaar . Small super market owner find it difficult to match the price of online store . The overhead cost to run a shop is far more than a online store , as shop owner have to pay fixed hefty rent , Electricity , utility charges and staff salary to run the shop irrespective of the business turnover. Retail seller / shop owners have to do lot of intelligent business techniques to compete with fast growing online shopping sites.
