the international journal of analytical and …ijaema.com/gallery/287-january-3193.pdfswot analysis...

E –Retailing & its associated paradigms: A study in India

*Er. Saurav Dey

**Dr. Debamalya Ghose

Abstract:

Standing on the Era of the great initiative of Digital India demands for a revolutionary change in

the technological infrastructure of the entire nation. Standing on this time where the plan is to

convert the entire monetary system of the nation into a digitized and cashless monetary and

transaction system . All these provides necessary support to the very nascent Online Retail

market in the nation which has got very high prospects of growth but still faced with many

challenges , obstackes, bottlenecks , constraints which needs to be addressed and answered

proactively.The critical aim of the article is to have a view on the opportunities and challenges

for the online retailers who are operating in the Indian Business environment keeping in view

that the E-Retail is the next booming future prospect of business in India which incorporates in

itself many things such as big-data analysis, artificial intelligence, smart logistics and many more

. hence , it generates a lot of employment opportunity for the Indian Youth too keeping in mind

that India is a relatively young country where a substantial percentage of the total population

falls under the age group of 25-35 years . Hence , this paper critically aims to highlight the

existing problems and the nurturing prospects in the area of E-retail. The knowledge of the paper

will help to eradicate the problems and find new areas of prospect in the domain of E-retail.

Keywords: E-Retail, Internet , Assortment, Logistics , Assortment

*Research Scholar, Department of Business Administration, Assam Univeristy, Silchar-788011,

Email:[email protected]

**Associate Professor, Department of Business Administration, Assam Univeristy, Silchar-

788011, Email:[email protected]

The International journal of analytical and experimental modal analysis

Volume XII, Issue I, January/2020

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INTRODUCTION:

The recent trend in digital marketing is showing a rapid increase in the sector of e-tailing. E-

tailing has contributed a lot in case of increasing the profitability as well as other marketing

aspects of various firms. This can be easily understood with the manifold increase in the country

in the domain of E-Commerce and M-Commerce in recent years . Digital marketing plays a very

vital role in case of survival in this competitive and technovative scenario.With the advent of

internet availability the market place is extended beyond traditional boundaries and is moved

from a temporal geographic location. Market space is created in such a fashion such that

shopping can take place anywhere. Customer convenience is enhanced and at the same point of

time shopping cost is enhanced. Shopping costs are reduced. India is showing tremendous

growth in e-commerce sector since 2014 . This growth is being driven by fast technology

adoption which is due to the increasing use of devices such as smartphones and tablets and also

with the huge scale availability of high speed internet availability due to the access points such as

broadband , 3G , 4G. This revolutionary increase in e-commerce sector in India is very well

facilitated with the emerging initiative of the Government of India named “Digital India”. Now

along with various multinational giants like Amazon, Alibaba are investing huge in case of

promoting their sales volume in comparison to the E-commerce companies of Indian origin like

Flipkart and at the same point of time this has also led to the increase in the use of various

multinational logistics company like DHL , Fedex and also various payment gateways and cards

of various international firms like VISA , Mastercard and also the recent card launched by India

which is RUPAY .So , with all these it is evident how E-tailing has become an important part

and parcel for any economy in this modern world.



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Need For the Study:-

In recent years a vital portion to the country’s economy has been contributed by e-tailing and e –

commerce .But, still there has been many challenges and uncovered areas in this domain , the

eradication and solution of which can result in the upliftment of the entire economy of the

country. Northeastern part of India being one of the most remote part of India is facing serious

problems due to geographical location , communication barriers and most importantly due to

unawareness resulting in fear and unwillingness of people for e-tailing. Inspite of having a good

prospect of market with a large number of people having the propensity to spend to a great extent

in e-tailing , the e-tailing market still has not been able to expand as much as other parts of the

country. With the advent of demonetization from 8th

November 2016 , the Government of India

is focusing extensively on Cashless transaction which is facilitated with the help of Card

Swipping Machines and various mobile and e-wallets such as Paytm . India has been exhibiting

a substantial growth in E-Commerce since 2010. Indiamart.com with the revenues of Rs 37

Crores and with an expansion of 50 percent per year is having 500000 number of visits per

month till 2010 which has increased manifolds in recent years. India , a country with about 289

million people falling in the middle class group has exhibited unlimited potential in the domain

of online shopping. The real estate prices in India are shooting the limits. Fee travel portals in the

online business contributed 50 percent to Rs 4900 Crore online markets in 2008-09 The travel

portals on India have reached Rs 1000 crores turnover which is about 20 percent of the total E-

commerce market in India. There is also an annual growth of 65 percent in travel portals alone.



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Literature Review:

With the advent of internet availability the market place is extended beyond traditional

boundaries and is moved from a temporal geographic location. Market space is created in such a

fashion such that shopping can take place anywhere. Customer convenience is enhanced and at

the same point of time shopping cost are enhanced. Shopping costs are reduced. India is showing

tremendous growth in e-commerce sector since 2014 . This growth is being driven by fast

technology adoption which is due to the increasing use of devices such as smartphones and

tablets and also with the huge scale availability of high speed internet availability due to the

access points such as broadband , 3G , 4G. This revolutionary increase in ecommerce sector in

India

Different Authors have defined E commerce in Different Ways

Wigand , R T (1997) observes “Electronic commerce includes any form of economic activity

conducted via electronic connections” . The definition of E commerce includes all those

economic activities that are carried out by an organizations electronically . The definition is not

complete as it fails to explain what those economic activities are.

The definition of EC by Electronic Commerce Task Force of the Government of Canada .

According to the committee EC is the conduct of business activities including production , sales ,

other transactions by means of advanced communications involving automated banking

machines , credit cards , debit cards , electronic data interchange and the internet . The definition

also describes the involvement of various advanced payment options involved in EC . It fails to

describe the benefits to business consumers by adopting EC

The definition given by U P Singh (1999) describes EC as “ electronic i.e. online and mainly

internet based methodology to address the need to business and consumers for cutting costs

while improving the quality of goods and services “ . Convenience of shopping on the internet ,

open for 24 hours a day , 7 days a week makes it further attractive . It allows people to transcend

the barriers of time and distance and take advantage of global markets and business opportunities

not even imaginable , opening up a new world of economic possibility and progress The



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definition describes further aspects of EC like convenience shopping , 24 *7 , global market

reach for both customers and companies .

Chary T S (1999) supports the view expressed by specialists referred earlier and describes EC as

the application of sophisticated computer technology for commerce through electronic media . It

is a marketplace where business is using marketplace where business is using the information

technology network computing to securely transform their business relationship and selling ,

buying the goods and services.

With the advent of the new concept of “Netizen” due to the widespread availability of internet ,

now a days Customers around the world can sit in the house and can accomplish what they

desire through a few mouseclicks and taps of keyboard.

AT Kearney’s 2013- global Retail e-commerce index stated that India has unlimited potential of

online retail. The substantial growth of online retail in India has got all the necessary potential to

add sufficient value to different stake holders of the Indian retail sector. The prospects of growth

online retail is substantially high in India. Inspite of such prospects, growth opportunities for

online retail are also accompanied with various challenges , constraints or obstacles which needs

to be addressed proactively and carefully.India has got various online retailers who facilitate and

provide a variety of merchandise to the consumers. The general sense of retail business is India

is presumed to be Business to Consumer (B2C). The classification of Online retail players

provides us with two types of category focused players and multi category focused . The

Category focused players are those who provide particular merchandise with deep assortment.

Example - Myntra , Jabbong (Apparels and Lifestyle products), Bigbasket , Local Banya

(Grocery segment) and Fabfurnish , Pepperfry (Furniture) , Carat lane , Juvalia and you

(Jewellery Segment). First cry , my baby cart (baby care product segment) . Multi category

players are classified as those who provides the consumers with a wide variety of merchandise

accompanied with limited assortment. Example - Flipkart , Snapdeal , Amazon. In order to have

a better understanding we may have a glance at some of the vital categoriesx and the major

online retailers/players in these categories. The retailers can be classified into categories such as

stationery , books, apparels, electronics , furnitures , sportsgoods , personal care , grocery ,

flowers, services.



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Moreover, a quick glance at the wholesale B2B market (Business To Business) provides us with

the names of giants like Wal-Mart which is functional at online space and the segment Customer

To Customer (C2C) has got in its lists the names of players like E-bay, Olx.

In the paper entitled “Probles and Prospects of E-Commerce”, Raghunath & Panga (2013)

presented a comprehensive analysis of various nuances of e-commerce while accentuating that,

in present time every business activity, be it advertising, ordering, payment etc, can be performed

in the digital ecosystem. The paper has also successfully enlisted various points on the

importance of e-commerce which are responsible for its development.

SWOT analysis of e-commerce which was being conducted by Awais & Samin (2012) has

highlighted ubiquity, low operating cost, improved customer interaction and time saving as the

points of strengths of e-commerce, but, with time there should be innovations in order to serve

the customers with newer & Better things each day .There has been an increase in the number of

players in the B2C segment, hence the competition for the best position will be intensified ,

making it extremely essential for the firms to enhance service quality and to invest in logistics.

(Das & Ara, 2015). In this era of rising competition the better survival of firms will be strongly

related to the efficiency the firms exhit in bridging the existing gaps in e-commerce transactions.

By doing this the firms can ensure better penetration into tier-2, tier -3 towns as well as rural

segmentation and hence business scope will be expanded .

Sl No. Category Major Players/ E-Retailers

1 Stationery Flipkart , Stationery shop , Snapdeal, Amazon

2 Books Flipkart, Amazon , Landmark , Naaptol

3

Apparels & Personal

Care Myntra, Jabbong , Zovi , Fashion and You

4 Electronics E-Zone , Flipkart , Amazon , Future Bazar , Naaptol , Infibeam

5 Furnitures Fabfurnish, Pepper Fry , Urban Ladder, Zansaar , Home Shop 18

6 Sports Goods Khelmart, Decathlon, Sports 365, Playground online

7 Grocery Big Basket, Local banya , Greenkart, Nature's Basket

8 Flowers Ferns & Petals, Tilia , Floraindia

9 Service Lenskart



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Keeping in focus the rise in the number of websites which are offering similar goods ,services .

Its internet marketing which has impacted a lot and has played a major role in the acquisition of

audience for e-commerce websites by displaying the advertisements on search engine

pages.internet marketing will not only prosper e-commerce but will also support the brick &

mortar stores to expand their business horizon(Gangeshwer, 2013)

In addition to Internet Marketing , Deshmukh , Deshmukh & Thampi (2013) identified another

important area which has got tremendous scope & potential which in nomenclated as m-

commerce and sometimes highlighted as subset of e-commerce . Due to penetration of

smartphone m-commerce is rising gradually and with a steady speed. “Transformation from

Ecommerce to M-commerce in Indian Context” which reviewed the present status of e-

commerce and mcommerce in the Indian market, recommended the latter as the potential future.

The paper highlights that ubiquity, personalization, flexibility and immediacy as the main

advantages of m-commerce.

Inspite of having innumerable prospects, the growth of e-commerce in India has not been upto its

complete potential due to certain challenges that inhibit the growth of firms. The growth of

digital commerce in India is hindered by inappropiate infrastructure, failure in logistical support ,

non-uniformity in tax and declining trend of margins. In this era of intense competition, firms

have to provide best service to their customers with attractive discounts & offers everyday,

liberalization in the returns policy which sometimes prove detrimental to their profits. In

addition to the above mentioned points the firms also have to provide subsidies & incentives to

their sellers for listing their products on their websites which proves detrimental sometimes for

the company. The increase in fulfillment cost which includes each and every cost incurred from

the point from which an order is placed until the time the product has reached the hands of the

customers . Moreover in Indian Context due to the geographical proximity and lack of proper

transportation infrastructure the last minute delivery has also given rise to increase in losses due

to reverse logistics. (Rina, 2016).



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Objectives of the study:

1. To understand the current scenario of Online Retail Business in India.

2. To investigate the major prospects and challenges for Online Retailers operating in India.

Scope:

The study is critically focused on the Indian Online Retail Market and its impact on the overall

Indian Retail Industry. The Scope of the study is restricted to the online retail market and the

various prospects and challenges faced by the online retailers in India.

Methodology & Data:

The study is based on secondary data collected from various sources such as journals , company

reports , company websites, newspaper and articles. Majorly review based methodology has been

used where the findings of various researches are synthesized in order to get a much brighter

picture of the domain of e-commerce and its problems and prospects in India.

A Bird’s Eye View on the Impact of Online Retail on the Organized Retail Sector of India

The Organised retail in India is still in a introductory stage with a retail penetration of 7.5% in

2013 (E&Y, 2013). The Online Retail contributes 7.9 % of organised retail and 0.5 % of overall

retail in 2013. The Segment has witnessed steady growth of 50-60 % with an expected value of

3.2 billion USD in 2014. The Online retailing has got significant impact on the sales turnover of

the brick and mortar stores. The Introduction of online retailers has promoted the rarest impact

which was witnessed with the entry of traditional retail players into online space. This fact is

evident from the trend of online store additions by traditional retail players.



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Note: Number of stores includes the Shoppers Stop Department stores and Speciality Stores ( viz

Home Stop , Mothercare , Crossword Bookstores, Arcelia , Mac, Clinique , Estee Lauder &

Airport Business) . It also includes stores of Trent and the ones operated by J V Inditex Trent

Retail India Private Limited.

Source : Company reports, CRISIL Research

A quick glance atthetrendprovides us with results that there

issteadyincreaseinthegrowthofonlinestoresbytraditional retailplayersinIndia.In the graph in the

portion2010-2012,the net storesadditions has got decreasing t rend butin the subsequent

year the trend can be observed as increasing.

Opportunities in India for Online Retailers:

The current Business Environment in India supports the growth of online business in India and

also promotes the online business with necessary inputs . So, we can easily say that the online

business in India has got the opportunity to expand itself.The various key reasons that contribute

to the growth of Online retailing in India are:

39

23

1

15

0

5

10

15

20

25

30

35

40

45

2009-10 2010-11 2011-12 2012-13

Net Stores Additions for Traditional Retailers

Net Stores Additions for Traditional Retailers



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1. A substantial increase in the number of Internet Users and online buyers:

The internet giant Google has observed that India has got around 200 million internet

users and the figure is expected to reach the paradigm of 500 million by the year 2018

which itself will be a great landmark and will provide a strong platform for the growth

and promotion of online business in India. The year 2013 has witnessed the figure of

15.13 million broadband connectivity and the government intiative to promote the

number of broadband users in the country is growing aggressively every year . The

forecast provided by Forrester’s Asia Pacific Retail predicts that 128 million will be the

online buyer population figure by 2018 and this is an encouraging factor for the

promotion , growth and development of Online retailing in India.

2.The Revolution of Smart Phone & Mobile Internet:

The Indian market has witnessed a substantial growth in the number of smartphone users

in recent years.In the year 2013 the number of smartphone users in India was 51 million

which has increased manifolds due to the widespread availability of cheaper smartphones

. the wide access to 4G, 3g has also supported the nurture of smartphone users in India

which has recently noticed a tremendous revolutionary change around the country due to

free internet sage with no charges provided by Reliance Gio.All these can be exemplified

as major causes for the promotion and upliftment of E-Retailing in India.



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Source : I-cube , IIFL, IAMAI, Caris, Ernst & Young estimates

3.Increase in the usage of Debit Cards , Credit Cards , Mobile banking for day to day

Transactions:

The figure of Retail Electronic payments was around INR 33.8 lakh crore in 2013 which

increased manifolds from INR 50000 Crore in 2004. The growth in Credit card usage is almost 7

times during this period and the figure of 2013 was INR 1.2 lakh crore. In case of Debit Card

Transaction the increase was almost 15 times and the value was around INR 74,300 crore in

2013. The analysis of the trend provides us with the conclusion that the increase in electronic

transaction in 2013 forms 57% of banking transaction as compared to 43 % of paper

transaction.The increase inregisteredinternetbankingusersinIndiaduring2013wasaround35%for

public sectorbanks25%forprivatesectorbanksand5%forforeignbankscomparedwith2012.The

emergence of Mobile banking in India has witnessed the growth of 30 million users in 2013

which was around 22.51 million users in 2012. With the introduction of two factor verification ,

OTP the security of online transaction has increased manifolds. This sense of security is an

enhancing factor for online users in the country.

6378

93

121

150

300

2 5 1230

65

200

0

50

100

150

200

250

300

350

2008 2009 2010 2011 2012F 2015F

Internet Users

Mobile Internet Users



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4. Rapid urbanization and rise in disposable income:

The expected increase in annual disposable income in India is at the rate of CAGR of 5.1%. The

2011 census exhibited an exponential growth rate of urbanization as 2.76%. India now has got

around 337 million people living in urban areas according to 2011 census. The 2011 census data

shows that the number of statutory towns has increased at the rate of 6.37 % during 2001-11.All

these factors encourages the growth of e-retailing in India.

5. Advancement in the fields of Artificial Intelligence & Big-Data Analysis:

The various concepts of artificial intelligence and big-data analysis are helping out the various e-

retailers to grow their business ,the concepts such as the four V’s of Big-Data analysis volume

,variety ,veracity ,velocity are helping the e-retailers in their daily day-to-day business operation.

Also the concept of Artificial Intelligence is also supporting the various e-retailers with fraud

detection & handling , supply chain visibility with which the online retailers are able to perform

much better .

6. Omnichannels :

The future lies not in traditional brick & mortar markets but rather market in online space .

With everyday increase in the number of online vendors , the consumers tastes and preferences

aare becoming largely fickle, turning everytime to the website offering more discounts and

offers. In such a competitive scenario, the survival becomes extremely difficult and can only be

ensured by increasing the number of touch points with the consumers in order to expand the

seller’s visibility. An example for this can be sited as in May 2015, India’s largest fashion portal,

Myntra has shut down its desktop website to become an app but, had to relaunch it in June 2016

due to customer attrition



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7. Niche Businesses :

As per a recent study conducted by Deloitte, “Future of e-commerce: Uncovering Innovation”,

highlights the new trend / culture of start-ups focussing on niche areas, that tend to serve

everyday purposes of the customers. In this age of giant marketspaces like Amazon and Flipkart,

which focuses on diversification by adding more products to their existing lines , firms like

Bluestone, Lenskart, Pepperfry, UrbanClap, OlaCabs etc. target a niche area, so that they can

offer a unique proposition.

8. Mergers & Acquisitions:

An emerging trend in the e-commerce market that can be witnessed is the acquisition of smaller

firms by the big market leaders, which helps to curb the competition in some way and at the

same time also ensures the survival of the fittest. Over the past few years that have been marked

by significant acquisitions, which have enabled firms like Flipkart, Snapdeal, Ola and others to

grow exponentially . WeRead, Letsbuy.com, Myntra are the names of some of the firms that

have been acquired by giant players like Flipkart. Another market giant Snapdeal has made

around 12 acquisitions since its inception. In the similar way other players like, Ola Cabs,

BookMyShow, Pepperfry etc. have also taken over lesser known players in the same product

category in order to hold their position in the market.

9. Focus on Services :

Owing to the tough competitive scenario the E-Commerce companies have identified and

understood the importance of service for business expansion and survival and this can be very

well witnessed with everyday improvement in service, returns and everypoint tracking &

feedback policy followed by the companies.

10. Better Infrastructure :

Due to the large proportion of the online traffic moving from desktop to mobile, ecommerce

firms have shifted to apps that consume less data and light mobile websites that provide a

seamless shopping experience to their customers and this calls for better It infrastructure in the

country.



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Challenges faced by Online –Retailers of India

Inspite of having various growth prospects the online retailing scenario in India is also

accompanied by various challenges which are:

1.Logistics:

Logistics serves as the backbone and prime factor responsible for the operational success of

online retailers in India. The country India is having a large geographical size and is fragmented

with poor infrastructure facilities. So, priority services and timely delivery serves as a major

constraint and challenging factor for online retailers operating in India. Moreover, lack of

adequate and sufficient infrastructure results in high logistics cost in India. This factor has

compelled online retailers like Flipkart and Amazon to construct their own logistics

section.Flipkart has the arm e-kart that takes care of its logistical needs and delivery process .

Many online retailers have got strategic tieups with logistics company. The biggest challenge

faced by logistic companies in India is the limited airline feet size of logistics company.This

particular problem is also supported by limited fleet of freight carriers which proves as another

obstacle. The limited technology investments and developments proves to be an important

blockage for logistics support in India.

Source: Plane Spotters website

Air Fleet Size comparisons Courier service providers of US and India.

India:7

US: 420



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2.Low Internet Speed:

India is facing the problem of slow internet connection which has got significant impact on the

prospect of online retailers in India. The average internet speed in India is less than 1 mbps

which is among the lowest in the global scenario.Due to this the online shopping sometimes

become tidious job for consumers. Moreover , India ranks 109th

out of 122 nations in case of

mobile internet speed.

3.Overcoming the mental barrier of touch and feel of Indian Customers:

Indian customers have got the typical habit of touching and feeling the product before purchase.

For overcoming this barrier the online retailers in India has started the sharing of specification of

each and every minute query about a product on their website.

4. COD and Management of Returns:

The emergence of COD as a preferred mode for online users has created various critical and

crucial issues for online retailers operating in India. Levy of extra charges by logistics providers

from the customers which affects the long term relationship between the company and the

customers. Delay in Remittances of cash collected by the logistics providers from the customers

also affects the working capital management of the online retailers. Another vital and critical

factor faced by the e retailers operating in India is the management of customer returns as many

of the logistics provider doesn’t have the facility and infrastructure to manage returns. Moreover

, this also incurs additional cost of e-retailers . For these reasons some of the e-retailers have

opened their own logistical wings so that they can take care of customer needs and the customer

loyalty and trust gets enhanced.

5. The policy of FDI in case of B2C e-commerce:

The FDI policy of India restricts 100 % FDI in Multi Brand retail which is applicable in case of

E-Commerce. In case of online B2B e-commerce 100% FDI is allowed but the scenario is not

the same in case of B2C e-commerce. For retailers working with brick and mortar operations 51



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% FDI is allowed by the government in case of B2C e-commerce . Hence , the recent scenario is

such that most of the retailers are following a marketplace model in which online retailers

provide platform for online buyers and sellers . This results in limited margin and restricted

control over the product , service and also the speed of delivery. This restriction with respect to

the FDI is harnessing the plans for growth and expansion of online retailers operating in India.

Conclusion:

The dynamic Indian retail sector has been witnessing revolutionary changes in the recent years ,

due to the wide availability of smartphones , tablets , laptops and internet facilities the growth

rate of E_retailing is almost 50 -60% and this growth rate is sufficient enough to provide a huge

contribution to the economy of the nation. But for proper capitalization and utilization of this

growth rate calls for immense improvement in infrastructure , business environment , policy

framework of the entire nation.

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