How top e-commerce companies are affecting traditional businesses in India?

What is an e-commerce business?

E-commerce is a type of business that the whole transaction is made online. Some of the popular examples of e-commerce are online shopping, which is defined as the purchase and sale of goods through the Internet on any device. It is the fastest-growing retail market projected to reach $ 4.135 billion in sales in 2020. However, e-commerce can also involve other types of activities, such as online auctions, payment gateways, online ticket booking, online banking

What is the traditional business?

Traditional business is that type of business where buying selling goods on physical form. This business is very popular in locally. Benefit of traditional business is you get your product instant where as in e-commerce business it take days some where it take up to weeks.

What are the top e-commerce companies in India?

 Amazon.in

Amazon is an e-commerce company based in the United States. On July 5, 1994, Jeff Bezos founded the company. it is the largest Internet retailer based company on revenue and market capitalization. amazon.in offers a wide range of product categories that include clothing, electronics, software, videos, books, etc. All customers on Amazon.in and the Amazon mobile shopping application have easy and convenient access to more than 160 million products in hundreds of categories.

Flipkart.com

Flipkart is one of the largest Indian based e-commerce company situated on Bengaluru. Sachin Bansal and Binny Bansal founded the company in October 2007. Actually, Flipkart Online Services Pvt. Ltd. owns the Flipkart brand. Mainly, the site is popular for books, movies, music, games, consoles, game accessories, mobiles, mobile accessories, cameras, etc. In addition, it sells computers, computer accessories, network components, software, peripherals, appliances, appliances, etc. TV and video products, clothing, personal and health products.

Alibaba.com

Alibaba Group Holding Limited, based in China, owns India.alibaba.com. Alibaba provides sales services through the web portal. In addition, Alibaba is the largest and most valuable retailer in the world since April 2016. Currently, the company operates in more than 200 countries. Alibaba is currently the fastest growing online retail company in India.

Paytm.com

Paytm is headquartered in Delhi NCR. An Indian businessman, Vijay Shekhar Sharma, founder Paytm. In addition to electronic commerce, the company operates the Paytm payment gateway and Paytm Wallet services. Paytm sells a wide range of products that include clothing, electronics, sporting goods, books, movies, stationery, etc.

eBay.in

eBay is a multinational e-commerce company based in California. Basically, eBay is an online auction provider and a shopping website where people and businesses buy and sell a wide variety of goods and services worldwide. The company charges sellers fees for publishing items after a limited number of free ads and again when those items are sold. Mainly, the company is popular for fashion items, electronics, cars, health and beauty products, and offers.

Makemytrip.com

MakeMyTrip is an online travel company. The company is based in Gurgaon, Haryana. In 2000, Deep Kalra founded the company. The company operates the business through 51 retail stores in 47 cities in India. Mainly, the company offers airline tickets for trips, train and bus tickets, taxi service and hotel reservations. In addition, the site is popular for travel deals and discounts.

Bookmyshow.com

Bookmyshow is the largest e-commerce platform for entertainment where you can buy online movie tickets, event tickets, sports and concert tickets. In 1999, Ashish Hemrajani, Parikshit Dar and Rajesh Balpande founded the company. The company is based in Mumbai. Customers can book tickets through various platforms such as the Internet, mobile applications, WAP and the internal call center.

Snapdeal.com

In February 2010, Kunal Bahl and Rohit Bansal founded Snapdeal. The company has the head office in Delhi. Initially, the company began as a platform of daily offers but expanded in September 2011 to become an online market. The site has more than 300,000 sellers throughout India. In addition, the company offers more than 30 million products in more than 800 diverse categories of more than 125,000 regional, national and international brands and retailers.

How is it affecting traditional businesses?

When it comes to e-commerce, it is seen as a very modern way of buying goods and services, but it has a lot of effect on the traditional business because it certainly uses the attraction marketing strategy where it attracts customers to themselves by providing convenience where Traditional companies have made different types of promotion for their sales. But the extraction strategy, of course, is successful and can now be seen in the market. It basically affects the income of the traditional business that causes less income and spreads the stress in the offline market and all the profit from the e-commerce business is invested outside of India and, therefore, the money spent by the people of India contributes less to growing the country's economy and weakens our country. And the main advantage of the offline business is that it gives the customer real experience, where the customer can touch and feel the product before buying and make sure that the product they are buying is satisfactory.

What is my view?

Therefore, with the previous discussion, it is quite clear that both businesses have their advantages and disadvantages. In E-commerce, you have to log in to the website and select your product to buy, where you choose a category, specifications and get the desired results. E-commerce is not suitable for perishable products and also for high-value items,
In a traditional business, you can touch feel the product whereas in online shopping you can't and traditional business is not suitable for buying software or music.