Factors contributing to the substantial growth of Indian E commerce and impact of E commerce on customer buying behavior’
E-Commerce is not a new buzzword for Indian customers but in the last 4-5 years Indian e-commerce market witnessed exponential growth like never before and this seems to be just a mere beginning. E-Commerce implies sales and purchase of goods and services online, or funds transfer over an electronic network, mainly internet. These transactions could be on any nature: · Business-to-business · Business-to-consumer · Consumer-to-consumer (OLX etc.) · Consumer-to-business. From development of first online selling system developed by Michael Aldrich in 1979 to global e-commerce sales reaching around US$ 2842 million, e-commerce has came so far. Indian Brand Equity Foundation (IBEF) estimates Indian e-commerce to be worth US$ 188 billion by 2026 [An estimated US$ 12 billion market (in terms of Gross Merchandise Value), 2016]. Considering increasing mobile penetration, low internet charges and changing consumer buying patterns this seems to be