Posted on December 26, 2019
The Indian e-commerce industry has its own story of its journey of evolution to reach its existing state. Since the dawn of civilization, the 20th century has seen more technological development than all other centuries combined. One such innovation was the internet that completely changed everything. We are from a very special generation who marked the transition from the 20th century to the 21st century and crossed the millennium. We have seen the time when TV had only Doordarshan, call rates were charged 8 rupees per minute and for booking train tickets, one had to stand in long queues for several months. In 1995 the internet was introduced in India in six cities, after which a lot of parallel developments took place.
In 2002 IRCTC started an online reservation system. IRCTC online medium provided customers the ease of booking tickets, which was never that convenient before. It was all new for people, but they didn’t hesitate to embrace this new internet revolution. Through the internet, customers of different classes were introduced to online payment mode. 2002 was an important year for the first generation of the internet, but it was just the beginning. In the coming years Yahoo chat, Facebook, Gmail, Orkut a whole different world of internet emerged. It reached and ruled the young generation.
2003-2004 Deccan airlines started low-cost airline trends in India. 2005-2006 MakeMyTrip and Yatra started online flight booking. It was also an interesting time for the Indian travel industry, as Deccan Airlines transformed the meaning of air travel in India. Spice jet, Indigo, Go Air also started flights on many routes. The online travel booking industry has benefited the most from the travel and booking revolution. The young middle-class generation made this transition easier. People called their children to book their tickets online, and the relevance of local travel agents started shrinking. Hence it won’t be incorrect to say that Indian customers learned online transactions from travel booking and increased social status of the young working-class played a major role.
The product e-commerce had not then started. It was yet to mark its presence. With the advent of smartphones and iPhone 3G, the product based e-commerce in India started taking shape. It changed the meaning of the industry.
The story of product e-commerce or e-tailing began in 2007 when Flipkart started selling books online. It was a very small venture, and the order value was also very small. But the customers showed a green signal to Flipkart, and it became a success. In 2009 Myntra started an online website for their customized printed t-shirts and coffee mugs. Snapdeal entered in 2010 with daily online deals and later converted themselves into marketplace in 2011. In 2012, another name emerged, which was Jabong, only to become the most popular shopping website by 2013, and marked 60% delivery in tier 2 cities. The deep discount models and excellent customer service made a lasting impression on Indian customers. 2013 Amazon enters India with a bang. Thus e-commerce and especially e-tailing in India “Arrived”. Ecommerce succeeded to become rampant in the country with the tale of rich history.