It’s 2020, We are now facing a crisis that isn’t showing a positive change. The market has been predicted to sink if proper economic conditions aren’t settled and stable. The local market is suffering without its customers. Many shopkeepers and vendors are on the verge of closure and are searching for new ways to keep their business life and survival. The market is slowly recouping the Months, but it is still genuine, yet little hope as the local market continues to face the pandemic’s wrath. It’s as simple as that.
The E-market has been the center of business Today. From converting local retail to online retail, the e-market has been on the path to success. Many have seen the steady growth of the e-commerce market. From eBay to Amazon, the world has changed due to these ventures. The e-commerce market is responsible for 33% of the world’s occupation and 56% of its economic growth. The E-commerce game has genuinely shifted the way we think about purchasing goods.
Over the years, the market has gotten saturated due to the success of the other ventures. eBay was just a mere site that was intended for selling second-hand products. The development of trust and faith between the seller and the buyer made eBay one the most diverse and unique product purchase platforms. eBay’s game-changing idea came to the limelight due to the same fact, and its growth still has potential Today. It has it s’s a market and consumer range and even though many websites have tried to copy and implement The same strategy that eBay places, no one has been as successful as eBay. In India, OLX, Quikr is the two biggest buyers and seller platforms with the same ideology and principles that eBay introduced. Even though eBay existed, the presence isn’t as favorable as what OLX or Quikr provides to its consumers. The eBay platform is famous in America, Australia, Europe, and the market is strong there.
Amazon is the world’s biggest e-commerce website. Ranging from a variety of products being sold every second online, the complete the catalog from A to Z. The Company, started by Jeff Bezos, the richest man in the world, is the world’s Highest value earning company with the stock market rising every day and shares sold at epic prices. The company has never failed at the e-commerce level. Jeff Bezos started Amazon with a vision to sell books. As the market expanded, he brought in chains and retails to sell their products online. The market has never been as flourished as what Amazon sees Today. Amazon achieved Monopoly for a minimal period.
As time passed, the market saw many such contenders enter with a similar vision, and also some were local as well. Flipkart for India is India’s first Make in India style market initiative. The company saw an immediate jump in the graphs and growth of consumers. The two giants have been expanding their growth, global and local, respectively. In India, the festive seasons pose an excellent season for them, and thus, the race for the best sales and marketing is shown, and the battle goes on. Every day, Amazon sees new consumers’ growth, and they welcome new users with discounts and more incentives. Amazon’s Prime feature allows consumers to grab new products earlier than those who haven’t subscribed to the website. The Prime day also expands to the Media sector through movies and launching songs.
Flipkart, on the other hand. Introduced their Flipkart Plus feature that allowed consumers to earn coins through purchases, the consumers can use these coins to avail specific discounts on their investments. These features have been a boon to many, and the Prime Features have been acclaimed more for the Movies and Shows that many watches in their spare time. Amazon is certainly winning in the race for media entertainment and more of the features that they bring. They equally respect their progress as they respect their customers. Flipkart has seen better progressive growth but not as much as Amazon; its credibility has been questioned for its delivery of products and authentic customer service. Many have reviewed a lousy assessment for how the delivery agents have treated them, or the final product could be a dummy, and they could be cheated. Flipkart’s PR team had stated to bash these claims, and they will prove their way of dealing with the consumers.
Amazon’s credibility has been ever good as it is as many reviews that were assessed have claimed the proper response and customer service. Amazon and Flipkart have been the clash of the competition in the Indian sector. Other Ventures like Snapdeal haven’t received enough claims as to the others. The growth to fame didn’t pull much, and thus, the failure to impress the market first-hand.
The rising competition is brutal to determine as it’s a seesaw figure that actuaries claim to produce. The growth of e-commerce sites is a battle that will continue for ages. The local retail might convert to the online market and thus eliminate intermediaries, and hardships of travel, and so on for the Consumer.