The impact of e-commerce on traditional retail model in India

Abstract

Unquestionably, the explosive growth of e-commerce in India has changed the nation's retail environment. E-commerce platforms provide customers with unmatched ease, a wide range of products, affordable prices, and the flexibility to evaluate possibilities while lounging in their own homes. Due of this, consumer behaviour has changed significantly, and traditional brick and mortar establishments have become less common. This abstract examines the various ways in which India's traditional retail industry has been impacted by the e-commerce revolution. It examines the difficulties traditional stores confront in competing with the online behemoths, including their restricted reach, increased operating expenses, and difficulties. It also looks at the attractive potential that e-commerce offers traditional companies, such growing their clientele, cutting costs, and simplifying processes. The abstract goes into additional detail about the tactics that conventional merchants might use to prosper in this new environment. Success requires embracing omnichannel tactics, establishing a strong online presence, offering a unique in-store experience, and utilizing technology. In the Indian retail sector, the combination of e-commerce and conventional models offers exciting prospects for innovation and customer-centric strategies. This study analyzes how the rise of e-commerce platforms has changed consumer preferences, market trends, and competitive dynamics through a combination of qualitative and quantitative research approaches. Utilizing conceptual models from the literature on technology adoption, marketing, and economics, it pinpoints the main forces and barriers affecting traditional retailers' acceptance of e-commerce and the ensuing restructuring of the retail sector. In-depth reviews of the body of previous research are included in the study, along with original data gathered through surveys, interviews, and case studies. Combining theoretical concepts with empirical data, this thesis offers a thorough understanding of the intricate interactions that exist between online and offline retail channels, highlighting opportunities for cooperation as well as synergies and conflicts.