Tuesday, March 18, 2008

The rise and rise of Online Retail!

The globe is finally at your fingertips. Human numbers may be expanding by the second but distances have finally shrunk. Investing money is a tradition. Investing time is the newest wrinkle. People don’t mind spending the almighty rupiyah for a pair of Levi’s Red Loop jeans if buying the same from an online store takes just a few minutes. Else driving an hour to reach the high street to buy it seems nothing less than a sluggish idea. Time and time alone stands as the new age currency today. And taking this as an opportune pedestal to climb higher, entrepreneurs have finally entered the new arena of Online Retail.

Say, you had already seen your favourite digital camera at a store in a mall. What say if you found the same product at a much better price in the comfort of your home- on the web, at half the time you spent shopping offline?? Well, the web is serving all this and more to its online customers. According to the NASSCOM Report, India expects a massive mass of internet users. Even the big brands have already found their space on web. Whether it is the Luxury Retail, Kids Retail, Mobile Telephony or other Consumer Electronics, the high street e-stores are on a roll.

The challenge however is to engage that portion of the mob, which visit the sites but go away without spending any bucks. The reason? Their distrust. This section of online turf is not comfortable transacting on the net because of their fear of e-stores mishandling their precious information. This population is almost half of the total online populace. If online retail portals begin to instill a security factor in the minds of their consumer base, half their battles will be won!

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