India is the fastest growing market for E commerce sector. E-commerce in India has been seeing a growth continuously and is expected to surpass the US and become the second largest e-commerce market in the world by 2034. According to e Marketer’s forecast eCommerce sales in India will climb to 31.0% to reach $32.70 billion till the end of year 2018. Firms like Amazon, Flipkart, and Paytm Mall are expanding into new sector including grocery. Increase in internet users and rise in digital literacy rate has become the gateway for the huge investment in e-commerce firms.
E commerce has been successful in attracting more customers from cities and towns where people living have less access to brand stores but have higher aspirations. People get more attracted towards eCommerce store as they get variety of products to choose from, cheaper price, can buy things from just sitting at home, can do easy returns, etc. Customers don’t need to go out of the house in crowd for shopping. E commerce sites allows to choose the product they want and the product is delivered at their doorstep.
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Why are people moving towards E commerce :–
E commerce allows people to carry out business from any place and at any time. One can log in to their store any time whether it is day or night and purchase or sell anything.
You can get cheap deals and better prices on eCommerce stores as they directly purchase products from manufacturer without any middleman involved. Many online shops offers great discounts in festival seasons.
You can get variety of brands and products at one place. You can look for the latest trends going in the market. You don’t need to wait for the fashion to arrive in your town and cities which may take months to arrive.
E commerce provides the cheapest mode of doing business. One don’t have to look for stores which costs them lakhs of rupees.
Many of us don’t like to stand in crowd while shopping. Crowd forces people to buy things in hurry most of the time. In online stores you get facility of shopping at your chosen time.
E commerce is ideal for niche products. Customers for such products are usually few. But in the huge market place .i.e. the Internet even niche products can generate huge volume.
There is less paper work and requires no staff to handle the online store. Electronic selling reduces the chance of error and is more faster and convenient for the visitor.
Increase in eCommerce popularity has also increased risks associated with it. People have also faced severe incidents which sometimes holds back them to purchase online.
Let’s look at some negative impacts of eCommerce store:-
Negative impacts of E commerce Business:–
Every eCommerce site asks for personal details while shopping, and thus it is easy to collect personal details of any user. All the transaction carried out are stored at the server. This history of user is used to target other advertisements by local and major firms.
E commerce site Security:-
Online transactions are more insecure than those conducted through cash because there is no way to guarantee that the money is going to land in safe hands. Also there is no way to ensure the person making payment through card is the owner of the card. Most of the sites use third party payment gateway which if not protected with proper security measures, can leak cards information to unauthorized persons.
E commerce site Returns and complaints:-
Shopping online always has more number of return rates than purchasing in person. This is because customers haven’t seen products in physical before purchasing, sometimes they change your mind by the time product reaches their door. A bigger firm would not have much problem in accepting the return product but it becomes highly disruptive with small firms which in turns affects consumers.
E commerce site Lack of Personal Touch :-
People buying from eCommerce lacks for personal touch. They cannot touch the products physically.If you want to buy any garment you won’t be able to touch the fabric of the garment. If you want to buy shoes you cannot check how it feels on your feet. You just have to click on Buy Now button and that’s it, product is booked for you.
eCommerce siteDelay in Service Delivery:-
Usually orders takes some days to get in your hands. Even if you choose express shipping you will get the delivery of product next day from the day you order. There are some products which people will want immediately. Suppose you want a pen to write something, you cannot wait for some days to get it delivered from an ecommerce site. Likewise if you want an candy to eat you cannot wait for the ecommerce site to deliver.
If we keep negative impacts and then look at eCommerce more darker side can be seen. People are targeted though various scams online. Frauds are on the rise with the rise in eCommerce segment. Fraudsters are becoming more sophisticated in their malware use to tackle online banking through phones, tablets, computer using stolen bank details.
eCommerce siteImpact on Retail Business Industry:–
Although ecommerce sector has become a boon for the consumers in India, there is a totally opposite side as far as the retailers see it. Now they don’t only need to compete with other retailers but they also need to compete with huge ecommerce firms which are much more larger in financial terms.
As per a recent research, it has come in to light that about 80% of enterprise has gone down from last two or three years. This is very disturbing situation and also discouraging for the local retailers. Local retailers and enterprises had set up their business from many years and now this newly came ecommerce is destroying their business like never before.
Most of the retailers have decreased their profit margin due to increasing competition with ecommerce stores as they need to attract more customers. This has brought up the situation of do or die.
The customer base is also getting shifted towards the online stores. E commerce stores provides number of items to choose at one place. One can get everything they need in their life from online stores. They have number of brands to offer. One single retailer cannot store such a huge collection at store. Retailers can only store some fixed amount of products at their store.
As the days are passing eCommerce is emerging. We can see its positive aspect in economy as well as in business industry. E commerce has taken internet by storm. Most of the people purchase goods online which needs their personal details to be shared online. This details are somehow hacked by the criminals and used for their own benefits.
Types of Fraud involved in E commerce Business :–
eCommerce site Identity theft :–
The most common fraud in eCommerce industry is Identity Theft. Credit cards are the most common target as it does not need much to carry out fraud using them.
Identity theft involves criminal carries out transaction using someone else’s identity. To order products online they use someone else’s name, their credit card information or by debiting another person’s account. On the other Phishing is used to collect personal sensitive data through sending text messages, emails to the victim.
Hackers attacking on e-commerce providers and stealing customer data also fall under this fraud category. ‘Man in the middle ‘is the sophisticated way of Identity theft. This involves hackers spoofing one to one communication between customer and merchant.
eCommerce siteFriendly Fraud:–
In this method customers orders products or services and pay for it using credit card or debit card. Then they ask for charge back from merchant telling them that there card was hacked or stolen. They get the charge back but keep goods with them. Friendly fraud also combines returning or re-shipping of products.
eCommerce site Clean Fraud :-
Clean fraud involves using the stolen or lost credit card details to make purchase in such a way that they avoid alerting the fraud detectors. In this process criminal steals enough information about the card holder that they can easily pass the transaction process as a real customer.
eCommerce site Affiliate Fraud :-
Affiliate fraud does not focus on the payment process. In this the criminal manipulates the data collected by the affiliate link given to them by retailer to make the retailer pay more than they owed. This can be achieved by an automated process or can be accomplished by realm people using fake profiles.
eCommerce siteMerchant Identity fraud :–
In Merchant fraud criminal set up an online store and attracts to customers to purchase from there. They show up giving the products vat very low price. After the customer has made payment they disappear and never ship the item. This kind of fraud also exists in wholesale purchase.
eCommerce site Triangulation fraud :–
In this fraud is carried out using three points. The first point is fake online store which offers goods at very low price. They also use different schemes which says that the goods will only be shipped immediately if the payment is done through credit card.
The second point involves the stolen credit card data and the name collected to order goods at real store and ship them to original customer.
The third point involves using the credit card data to make more purchases. the order data and credit card data now are almost to connect , so the fraud remains undiscovered.
E commerce is growing than any other industry in the country. There are positive as well as negative aspects of it. We need to analyse both the situations and take some major steps for the welfare of the business industry and its people. We cannot be blindfolded by the harm eCommerce industry is causing. Retail business is facing an heavy competition with eCommerce sector. Even the people need to be aware with fraud schemes while shopping online. Never share your personal information online with unknown person.
e commerce websites business ,what e commerce ,meaning types definition advantages and disadvantages business public frequently asked questions (FAQs) :-
What effect does industry or industrialization have in common public life ?
The industrialization has a major impact on society and people have to look forward to some changes in the country. Based on the public interest in the industry, profits and employment go higher. It increased in urbanization and people moved to an urban center in search development. On-road transportation, certain development has been establishing towards society help. Economic developments also have taken in the industrial revolution. It brought up significant social changes among public interest on industrialization. Revolution has brought up to consider significant changes in road transport on industry sides. Workers get paid and take advantages in mass production of goods.
What and how many bad business impact of poor transportation service?
Due to poor transportation services, many businesses greatly affected. Shifting goods to consume place affected due to poor road transportation. It involves a huge number of things to keep in mind and production will below. For controlling this situation, poor transportation needs to overcome as quickly as possible. It increases sufficient roads in rural areas tend to increase production. For agriculture input and markets, road transportation is a must. So, poor transportation must solve by taking proper measurements. Especially in rural areas, transportation is important to carry out many things smoothly. So, the government has to take proper steps to avoid this misconception and do the best for promoting road transportation.
What is the Government of India policy best suited for doing business?
Recently, the Indian government led by Narendra Modi is focusing more on a broad world of an endless number of emerging startups. For achieving this, the Indian government is creating new opportunities and programs. They help companies in both nurturing and innovation. There are many initiatives taken by the Indian government to support new entrepreneurship. It also aims to foster the civilization of creativity among Indian youngsters. With an exceptional and huge statistic benefit, India can raise and improve business individually and make the occupations for the benefit of this nation and also the world. Every step is taken to enable the prosperity and growth of the country.
What do companies in India have problems with multi-state trade payable Geographical diversity?
Ethnic, cultural, racial, gender and other kinds of identities determine how people know, see and experience the world. Individuals from diverse environments think, react and learn differently. It is difficult for multistate business companies in India while trying to understand their employees. Most significantly, geographic diversity will lead to a lack of unity within the organization. If properly harnessed, geographic diversity can provide in holistic and multi-dimensional perspective to the acumen and wisdom within the multistate business companies. The companies in India do not have more problems with the multi-state trade payable Geographical diversity. It is because the process is a little bit simple.
What is there an efficient goods commercial vehicle available in India as expected?
Transition in India become more realistic with the current government has sustained and massive push on electric mobility. The government’s think-tank – NITI Aayog has been spearheading transition for increasing the zero-emission mode of transportation. Multi-Axle Trucks (MATs) are considered as the efficient goods commercial vehicle available in India and widely used with for industrial transportation. These vehicles mainly range from 26.2 ton to 49-ton vehicles gross weight. Sales of these vehicles have been jumped between 2009 and 2010 as 55% higher. Goods commercial vehicle has been massively improved on the highest standard level 60% of the overall commercial vehicle market have been massively improved.
What is heavy haulage Oversize ODC transportation a simple task in India?
ODC, otherwise called over-dimensional cargo is added entirely outside of a deck of the vehicles for shifting the over-sized goods. Both the length and height of cargo are larger than the standard vehicles. These heavy cargos are used in both domestic and commercial sectors. ODC transport in India can help people to shift their heavy goods from one location to the next one quickly. It is because these vehicles are well-equipped with many modern devices. They are capable of transporting heavyweight goods over long distances. The transport service provider has sufficient experience in this sector, so the team makes the overall transportation process hassle-free.
What is the diversity in logistics or transportation costs in India?
The Indian transportation sector is very large and diverse. It has been carrying out a major solution to undergo road transportation. For shifting goods and products, road transportation is very must and involves good actions. It has lots of results and the majority of imports rely on on-road transportation. Also, the costs of transportation in India are affordable and depend on business size. It works from the publication that makes the average population time for transport needs. So, get it based on the diversity in logistics and transportation costs is limited to the business sectors.
What is the level of customers class in the development of Indian Industrial Market?
Customer segmentation is nothing but a practice of dividing a customer into a group. It has been carrying out with the majority of things relevant to marketing. Thus, it plays an important role in meeting overall interests and spending habits. So, it termed to evaluate the specific ways organize with marketing needs.
Millions of Indian population has the biggest range of the base class. It is also considered high due to Indian market range. It involves middle class, richest, and below-average base class. It has overflowing wealth value and sometimes involves in extremely poor condition. Checking the database also reveals the big Indian base class.
What and how much contribution of the present government has been successful in promoting Indian trade business ?
Industry experts mainly state that Government requires to endure the stepping on spending more on the particular sectors. With the Current Government is concentrating on various factors such as education, infrastructure, healthcare, connectivity and more. All these are major aspects that revive the growth with declining economic growth. There are hundreds of entrepreneurs as well as start-ups in the manufacturing sectors have been improved with the economy. Government has initiated certain measures for reviving the economy with spurring growth. India responds to the need for manufacturing as well as other service sectors then 80% of the GDP gets to improve.
What are the major business problems in India?
Since the time immemorial Indians have been promoting peace. The business has massively improved to the peak level but there are also some problems that most of the business faces. Whether it is related to government, crimes by ‘godmen’, condition of roads, corruption, or any others, the business gets affected in certain circumstances. Corruption is the worst endemic that is widely spread in India so it is important to be handled wisely and quickly. Though our country needs several changes at present below are some of the important things that we need to consider for tackling immediately.
· Education system
· Basic Hygiene
· Healthcare system
· Women’s safety
What are the disadvantages of the transportation business ?
Here are the demerits of the transportation business as follow:
Road transportation in India is risky. Necessary security measures never made against road accidents.
Many roads in India are inadequate and also available in bad shape. There are just 34 km long roads per every 100 sq.km area.
It is another disadvantage of the road transportation business. The tax burden per vehicle in this country is Rs. 3500.
Poor road maintenance
Roads in India are not properly maintained. There is only 0.1% of national earning is invested in road maintenance in India.
Rising diesel and petrol cost
The operational amount of road transport is rising continuously.
Not suitable for bulky goods
It is unsuitable for heavy goods.
What are the advantages of the transportation service business ?
The road transportation involves a majority of things to help workers, students, and people to travel securely. It involves less cost and safety for everyone. Other than that, it easily delivers enough goods on time via road transport. It is more applicable for business to carry out major benefits in road transport. Goods and products delivered at the right location within the limited time duration. It involves lots of flexibility in operation and cheaper as well. For import and export business, road transportation is must and more appropriate for a short distance or long distance. It deserves the right platform to carry out major goods delivered at the right time.
How many types of transportation are used in India?
With the rapid urbanization in India, the Economic growth of the country has also improved. Transport system mainly has been improved into distinct modes such as notably road transport, railways, inland water transport, airports, and airlines, coastal shipping and many more. Roadways are the dominant means of transporting carrying about 85% of the total traffic generated in the country. India has about 191.7 million registered vehicles and Compound Annual Growth Rate from total Registered Motor Vehicles in India has been improved to 94%. With the increase in the number of vehicles on roads, it also paves a way for the development of business.
What is Logistic and what works ?
Logistics is broadly used to refer to a process of moving resources including equipment, products, materials, and inventory from one place to next one at the targeted destination. This term is used in numerous applications. There are different kinds of logistics services available but road transportation gets more fame among business professionals. It is because if business products or material cannot reach the customers, it will fail. It is the right place when road transportation plays a vital role. It also impacts many other aspects of businesses. If the products are shipping to your customers on time, it will increase the profitability of a company.
What are the meaning and use of a company or industry in reality ?
Company or industry, in reality, is an entity that especially engages the business. The company could be structured across many numbers of ways. A company could be a corporation, sole proprietorship or under the partnership. Based on the different company that you are dealing with, it could be owned by a single person or even a group of individuals. The company could be well structured under many circumstances. Liability is an important type of company that is especially assumed. Company or industry in India has a major growth with the improvements in modern technology and transportation facilities all over the country.
उपरोक्त जानकारी हमारे अथक प्रयास और अत्यधिक कठिन प्रयत्नों द्वारा अर्जित की गई है ।निवेदन द्वारा सूचित किया जाता है इसे चुराकर असंवैधानिक कृत्य और अपराध न करे । यदि किसी को इससे समस्या हो तो वह स्वखोज हेतु स्वतंत्र है । यदि कोई जनहित जानकारी साझा करना चाहे तो उसकी लेखनी को सम्मान दिया जायेगा ।