Jamshedpur: The graduates of Entrepreneurship Development Centre, XLRI, Ashish Sharma (24) and Rahul Agarwal (24) have launched a website. Inspired from the e-commerce companies like jabong, Myntra and flipkart, the students have launched http://www.jsrbazaar.com, which will offer a verity of choice in grocery products, vegetables, cosmetics and much more.
Prabal K. Sen, chairperson, Entrepreneurship Development Centre, XLRI and Sharad Sarin, senior faculty member (marketing), XLRI launched the website on Sunday.
“We have received overwhelming response from the people at the very launch of the website. We have received about 100 calls today which is a great response. Our plan to provide people the best products at a less price. The city has large chunk of population that is service class and relies on online shopping.
Our website will fulfill their needs at much ease,” said Ashish Sharma. The industry estimates that the e-commercemarket is growing at 30-40 percent and the overall e-commerce market that includes e-ticketing, travel, entertainment and utility is estimated at 20,000 crore. There are a lot of investments made by venture capital fund in thee-commerce companies and these companies are putting the maximum share of fund to get a robust delivery for consumers.
This has created a positive word of mouth thus resulting in more online purchases. Another factor for the growth of e-commerce in India is the increasing time women spent online. Irrespective of their income level, small towns are also logging to shop online. The order placed by people in small towns might not be the movie tickets, but these are basically the daily use products such as mixer grinder, jewellery, branded clothes that are not available in their small towns or cities.
A probable reason for such rising trend in these small cities might be the aspirations of the buyers in metros and small towns in India are similar, but due to fashion access being limited in small towns, online buying options become attractive. With better lifestyle and increasing buying capacity of people in smaller cities, what matters to them is the choice and availability of products online.
Brands are also playing a vital role in this change. They are now moving to re-define consumerism. Trends are graduating and bigger brands are finding new destinations in smaller cities through innovative channels. Demand and supply has far-gone the demographic limits and the new and easiest retail destinations are found online.
Discounts are also another factor accelerating this growth. People get up to 90 percent discount on deals. This has made possible the rural people to buy the respected and big brands online and become the proud owner of it. Payments through credit or debit cards, and cash on delivery have provided them additional thrust to shop online.