Project Report For E-Commerce
The project report for E-Commerce is as follows.
India has around 475 million active internet users as of July 2020, about 40 per cent of the population. Given becoming the second-largest internet user base, just behind China (650 million, 48 percent of the population), e-commerce infiltration is poor relative to countries like the USA (266 million, 84 percent) or France (54 M, 81 percent), but grows at an exponential rate, contributing approximately 6 million new arrivals each month. India’s e-commerce industry in 2009 valued around $3.9 billion, rising to $12.6 billion in 2013. The e-retail section was valuated at 2.3 billion US dollars in 2013. Approximately 79 per cent of India’s e-commerce industry is connected to transport. There have been 35 million internet shoppers in India in 2014 Q1 as per Google India and it has been anticipated to reach 100 million marks by the end of 2016. CAGR is of 8–10 per cent growth rate. The largest classifications in relation to sales are electronics and apparel. As per Google India Research, by 2021 India is estimated to contribute $100 billion in profits from online shopping from which $35 billion would be generated via e-commerce manner.
Prior to actually widening into certain product lines such as home furnishing, fashion and lifestyle products, the firm concentrates on Retail Business. The company intends to sell high-quality fashion products, smartphones, electronics, home appliances and furnishings. The business plans to sell high-quality products at a reasonably priced price. Flipkart, Amazon ‘s vast enhancing consumer base, snapdeal like systems are optimal for marketing these types of products.
Market potential & Strategy
India does have the largest expanding market for online retailing among world’s top markets. For the period 2013 to 2017, India’s online retail market saw a compound annual growth rate ( CAGR) of 53 per cent. The explosive expansion, albeit over a tiny platform, has also been motivated by aggressive e-commerce marketplaces motivated by discounts, breakthroughs in delivery system, and doubled smartphone penetration and internet use. Retail ecosystems include communities of consumers , retailers and partners that are quick to reorganize the business market. A fast-growing economy and comprehensive demographic trends give the Indian consumer businesses an optimistic perspective.
Products from the company seek to sell solely via digital media. With Jio fiber optics invented by September 2019, India ‘s web usage will triple increase. The company plans to sell foreign – made top quality clothing items, mobiles, electronics, home appliances & furniture etc. The largest suppliers recognized and planning to advertise through such systems were Flipkart, Amazon, Snapdeal, Paytm, Shopclues, etc.
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