A million retailers sell online, notes IAMAI

28 Mar,2014

By a correspondent

 

IAMAI has estimated that nearly 1 million large and small retailers make use of online marketplaces to reach out to their customers. These online retailers represent a wide range of categories including electronics, books, apparel, accessories, footwear, jewellery. The presence of such a large number of online sellers testifies to the efficiencies, disintermediation, lower capital costs and deep outreach that online marketplaces provide to the retailers.

 

In fact, the association contends that for millions of small sellers who can neither afford an expensive shop front nor has a brand to sell, online marketplaces have come as a boon by giving them a low cost business model, wider market access and as well the support of a well-known brand.

 

It is for these reasons that many of the “original equipment manufacturers” [OEMs], apparel, jewellery and other brand owners sell their products exclusively through the online channel. In recent months quite a few OEMs have even launched their products exclusively through online marketplaces.

 

Online marketplace have helped the retailers with a physical store to sell across the country creating an employment opportunities for thousands of educated and uneducated Indians. It also gives buyers even in remote areas of the country a wide choice of products to choose from and facility to do comparison shopping at the click of a button.

 

Therefore, the future lies in an integrated channel strategy to best benefit the remote consumer and the manufacturer which is a combination of both offline and online retail sales. These two channels do not conflict with each other but complement and amplify each other.

 

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