Digitalization in Retail Sector in India
Currently the consumer’s perception regarding purchasing the product has been changed with the introduction of internet media. Retail industry has witnessed major revolution in the changing technology oriented business scenario of 21st century in India. Internet has contract the entire World. The rapid speed of technology development and rising adoption of mobile digital devices on a global scale, such as smart phones and tablets, have a profound transforming impact on consumer behavior and retail businesses. The growth of the Internet and mobile digital devices in the hands of shoppers has been driving transformation and innovation of business models in the retail landscape. This leads to innovations, methods of payment that retailers provide to customers in order to increase convenience and speed up the check-out process. Technological developments are potential drivers of innovations in retail business models that affect the retail industry from the outside and that may lead to the design of new ways of creating and distributing value. The e-retailing website is the front door of the online store that interacts between the e-retailer and consumers. The electronic retailing is the model of selling of retail goods using electronic media. E-Retailing is a subset of e-Commerce (Electronic Commerce). The Internet gives retailers an instrument for broadening target markets, enhancing consumer relationships, extending product lines, improving cost efficiency, improving consumer communications, and delivering customized offers. Changing demographics, changing lifestyles and exposure to the developed markets give a boost to e-Retailing industry. E-Retailers serve 24 hours x 7 days in a hassle free manner to consumers. Along with advantages of e-Retailing some major issues are associated with e-Retailing such as lack of personal touch, cyber crime, bargaining is not possible and e-illiteracy among rural India. But with all, we can say that Prospect of e-Retailing market is bright in India. There is no doubt that digitalization is profoundly changing consumer’s shopping habits and expectations, and the pace of change is impressive.
Keywords: Digitalization, E-Retailing, E-Tailing, Consumer satisfaction, online shopping.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.