eCommerce, which began with the simple business of creating retail markets online, has grown leaps and bounds over the past decade. Apart from the direct income obtained from profit selling of various products, entrepreneurs can also benefit from the income through many advertisement projecting set-ups like Google AdSense. The monetary benefit through advertisements had initially led to the coming up of many blogs relating to varied things like automobiles, lifestyle tips, discussion forums etc.However, eCommerce has also played a major factor in the diminishing of the many historic print edit
eCommerce, which began with the simple business of creating retail markets online, has grown leaps and bounds over the past decade. Apart from the direct income obtained from profit selling of various products, entrepreneurs can also benefit from the income through many advertisement projecting set-ups like Google AdSense. The monetary benefit through advertisements had initially led to the coming up of many blogs relating to varied things like automobiles, lifestyle tips, discussion forums etc.
However, eCommerce has also played a major factor in the diminishing of the many historic print editions of newspapers, magazines, journals etc. Although this has led to a number of job cuts in the print media houses ranging from the globally-acclaimed Wall Street Journal to Anand Bazaar Patrika closer home, it has also led to the unleashing of a vast sea of opportunities for the creative individuals.
I want to put forth some positive and some negative points of the eCommerce media industry. Although the printing of a newspaper look easy, considering the systematic flow that the technology enables in today’s world, it is the same technology which has slowly led to the diminishing of various media outlets. The Washington Post, The New York Times, The Wall Street Journal and many other global newspapers and media organizations have changed hands many a times during their more than century-old histories. They have slowly moved and enhanced their digital footprint.
But closer home, a large number of organizations are still mostly reliant on their print versions. However, they have slowly started picking up pace to increase their digital footprint too. My objective is to put the positive and negative points in reference to the developing eCommerce industry in India.
One of the main reasons of India’s slow growth, compared to other countries, in terms of the eCommerce in media industry is the populace of the country. With 1.25 billion people residing in the country, a change in the format of daily news, will obviously take time. At the same time, one may argue that even though China is the most populated country in the world, eCommerce in media has caught the eye and is being used by everyone there. There is a very simple reason for it. China has shown huge improvement in its internet/broadband inclusion. This had led to millions of the populace logging on to their smartphones, tablets etc. every day to read the daily happenings.
In India there is very minimal internet inclusion. Although this is changing day by day, it will still take time to reach every nook and corner of the country. Parts like Jammu and Kashmir, the north-Eastern regions, hilly areas etc. need more infrastructure development to ensure better connectivity.
Moving on, the slow yet steady establishment of eCommerce in media industry in India has also led to the growth in the concept of ‘social media’. When Orkut (which was suspended by Google on September 30, 2014) came into existence, users from India and Brazil formed a major chunk of its base. And Orkut gave birth to many new ‘communities’ and social groups which met online to start new ventures. Various entertainment industry small-time gossip groups have now developed into ‘Bollywood Business Reporters’. With the introduction of Facebook, Twitter etc., the craze of social media has only grown higher and is now in a upward spiral trajectory.
Even the mobile industry has played its part in the swelling up of the eCommerce in media industry. The Apple Store, the Google Play Store etc. have led to the blossoming of many new applications for users. Therefore, brands like The Times of India, The Hindu, The Hindustan Times and other media organizations have developed ‘apps’ to deliver instantaneous alerts and news to their readers. This has opened up a new path of monetary for such organizations through the advertisements and other features. One of the main features that organizations like India Today, Frontline etc. offer is ‘limited privileges’. What this means is that the applications, or for that matter the websites, of such organizations provide only a glimpse of articles which a reader might want to access. However, to read the full articles, a reader has to pay a meager amount via different ePayment modes. Through this, the company also earns more moolah and the reader can also get instantaneous news coverage at a nominal subscription rate – a win-win situation for everybody!
Certain media organizations even provide live feed of important events taking place around the globe. These are some of the innovative methods which can be applied to increase the readership/viewership and ultimately swell up the profits. The best part is that all this can be done at minimal expenditure. And it is because of such ideas and concepts, that a fresher can excel in the industry. If you are able to provide even one flash of brilliance, you can earn lakhs of rupees in one go.
To conclude, one can easily say that India, being home to 1.25 billion people, can turn out to be a very attractive market for almost any product. And the eCommerce in media industry is expected to be one of those products. By targeting the right section of the crowd with the right approach, any company can earn huge profits. And since the industry has started growing only in the past few years, this is the right time for you to enter the industry. To grow with a growing industry always proves beneficial.