Wednesday 24 December 2014

Cash on delivery an E-revolution

How did you purchased your first order in online shopping or e-shopping ?
was it through debit card/ credit card or by net banking.. did you recall 
if yes... then let me guess it wouldn't have been debit/credit u would have selected a 
different option which is CASH ON DELIVERY 
The concept cash on delivery is simple that is payment is done when product is delivered to owner
cash on delivery or collect on delivery was first introduced by flipkart in INDIA in year 2010.
 The introduction of this concept was so revolutionary that it turned the tables for e-commerce in India.
      Before the introduction of COD the online business Market in India was estimated to be worth
around $3.8 billion. But after introducing COD the boom in e-commerce took and  the market growth reached a new heights for year 2013 it was valued to $12 billion. and it is estimated to reach $24 billion (RS 1,07,800 crores) by the year 2015.
     The penetration of COD in E-business made the customers to trust the online firms and e-market.
The firms which were unknown to people started to establish themselves in Market after the penetration.
the mind set of people started to orient toward e-business and more and more investment in online firm were made (like amazon alone invested around $2 billion in this market in india).
       so there is much to come in this field but a revolutionary concept COD alone changed the whole shape of e-commerce in India.

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