Online Buying in India Set to Grow Exponentially
January 8th, 2012January 6th, 2012—Mumbai, India—India is currently amongst the fastest growing nations for internet and many more users in the country have started to use online services for various reasons. Online shopping is expected to be one of the main beneficiaries of the rise in internet activity in India with customers becoming more tech savvy and more importantly much more comfortable with buying from online retailers.
According to IndiaCompanySetup.com (www.indiacompanysetup.com), internet penetration in India has been improving over the years and greater security as well as rising broadband speeds has made a lot of difference for internet usage in the country. Although many speculated that ecommerce ventures would be accepted only in the few metros of India, as per many new online retailers, there has been considerable growth in orders from smaller towns and Tier 2 or Tier 3 cities of India. The other significant reason why there has been a growth in online buying is the introduction of a ‘cash on delivery’ scheme by most retailers. Those not comfortable providing their credit card numbers over the internet can purchase products by paying cash when the product is delivered to them in good condition. Also the major banks in India have tied up with the top online retailers to provide interest free EMI options to online buyers. This has also come as a great boon to online shopping as many prefer to use their credit or debit cards to avail of the interest free options.
As per IndiaCompanySetup.com, venture capitalists in the country have also warmed up to online retailing and are ready to fund startups showing a lot of promise and innovation. Since a large portion of the internet users in India are actually youth of the country, these users are much more open to buying online and looking for the best deals available on the internet.
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