Online consumer electronics refer to buying and selling of consumer electronic products over the internet

Online consumer electronics refer to buying and selling of consumer electronic products over the internet. Although, this process was initially implemented in the west, but this industry has escalated at a remarkable growth rate in the recent past. Though players such as eBay and Letsbuy.com were present in the market for quite long, however the industry started gaining prominence only after 2011 when Flipkart ventured into the sale of electronics on its platform in 2011. Initially, due to significantly low internet population in the country and the skeptical nature of Indian consumers to buy electronic items online restricted the growth. Indian consumers gradually started buying products online and started to accept the online channel for buying electronic products. Flipkart adopted innovative marketing strategies including cash on delivery and easy returns to gain consumer confidence. The entry of Snapdeal and Amazon in this segment further facilitated the massive popularity of online consumer electronics in the Indian market.

The rise in demand for convenience shopping as well as the penetration of internet among the population has led to the growth of consumer electronics market at a fast pace. The market has also flourished as it has been able to offer steep discounts on the prices of the products offered and attract customers away from the brick and mortar shops. Further, other important factors that have contributed towards the growth of this market include: increasing disposable income of Indian masses, launch of technological advanced devices and decreasing prices of consumer electronic devices including smart phone, tablets and notebooks. Indian buyers have started spending enough time to browse through the online retail electronics market india of their choice online instead of being coerced by salespeople at offline retail shops.

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The Indian scenario of the online consumer electronics market has seen a spurt in the number of online retailers coming up in the recent years. The major players in the market that lead from the front are Flipkart, Amazon, Snapdeal and Paytm.

The online consumer electronics market has displayed unprecedented growth in the last four years owing to rising smartphone and internet users, convenience of shopping online and lucrative discounts offered on products. Venture capitalists have displayed an undying interest especially in the market which is evident from the fact that they have invested millions of dollars during the span of last three years especially since 2012.

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