The internet boom is back in India. Online companies like snapdeal, flipkart, diapers.com and others are doing roaring business. The rapid internet penetration and high growth of mobiles subscribers are prompting retailers and organizations to flock to the online space to attract buyers. And the tremendous business done by the recent online companies have shown that the Indian consumers have come of age.
As a result, the future trends will be:
- Ecommerce will boom in India
- Instead of the ‘touch and feel’ need, Indian consumers’ preferences have changed to the speed of delivery and ease of availability.
- Companies that ensures fast delivery, and high quality services and products will rule the roost
- Majority of the users will shop online. It’s a growing phenomenon, and will soon reach a critical mass.
- The lessons learnt from burst of the internet bubble in 1990s have enabled the current companies to ensure that they do not make similar mistakes. Hence mature companies with clear cut business models will emerge and sustain.
- Despite the current success scenarios, I don’t foresee Internet companies spouting at the drop of the hat unlike the 1990s scenario.
- Mergers and acquisitions will be rampant among the online companies in future as they try to consolidate their position in the online market space
- The scramble for the online internet space will see many companies closing doors. There are many companies offering similar services, and only the best among them will survive.
The changes are quite encouraging, and the online companies are gaining a major mileage due to the large audience milling the net. The high internet penetration ensures that a captive audience is there to be tapped and the growing number of internet companies show that the online business is on a great high. So I can safely say, in India we are re-building the internet bubble.
What’s your take on it?
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