E commerce is the sale or purchase of goods and services conducted over networks of Tv and computers. The use of internet and network is the key feature of e commerce. According to a report by KPMG, e-Commerce sector in India is projected to cross $80 billion by 2020 and $300 billion by 2030.
The various models for e commerce are:
- Market place model: The seller does not own the inventory. The seller only provides the platform for transaction and the goods are sourced from an inventory owned to number of enterprises.
- Inventory based mode Ownership of inventory rests with the seller only.
Benefits of e commerce:
- Rapidly growing sector.
- Spillover effect on associate industries such as logistics, online advertising , media and ITes
- Boost to regional and local entrepreneurships; A cost effective medium for the growth of MSME
- Consumer friendly as there is increase in the number of choices. They are more convenient for consumers also.
- Revenue generation for Government., providing employment opportunities.
- Balanced regional development, will help to provide safety to local artisan industries by giving exposure to a large market means globalisation of indigenous products.( eg madhubani paintings, bagru print, bandhej sarees etc.)
- E commerce attracts huge amount of investment in the form of FDI.
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