It
gives me great pleasure to type my new article, on my new laptop after a long
hiatus. Yes! My brand new laptop… the story of this new laptop is an
interesting one, a yet another learning experience for me... It goes something like this…
October
6, 2014: 8 am. I woke up from my bed with a big smile on my face as it was a
long awaited public holiday and the thoughts of a lazy day that lay ahead,
brought in a sense of immense relaxation. Like my daily morning ritual, I held
the newspaper to know how the previous day had been for India and the world.
The moment I held the newspaper, its first page did not fail to hold my
attention. The entire first page was filled with a big advertisement from a
popular e-commerce giant of India. There were generous discounts being offered
on various consumer durables, available, quite strategically, only for a day.
My sister, like any other curious Indian consumer, immediately rushed to the PC
to log on to the site. And there it was…a plethora of items available on sale,
with lucrative discounts and offers. Coincidentally, since I had purchasing of
a laptop on my mind, I started browsing through the innumerable models offered
by several brands. It was like wading through a sea of tempting offers. The
moment I hit BUY NOW, there were several technical glitches and my transaction
could not be completed successfully. I gave up after a series of unsuccessful
attempts. Later during the day there were several complaints on various social
networking sites pertaining to the online seller. However, at the same time I
learnt that the company had made business worth billions. The next day I bought
the same laptop on another e-commerce retailer’s site at the same price.
The
news regarding business of billions made by the retailer company made me think
if really we can still call India a ‘developing’ economy. Days like Diwali,
Dussehra and such big sale days defy the proposition put forth by many
dignified economists. Online shopping and easy credit terms (Reckless use of
credit cards reminds me so much of ‘Confessions of a Shopaholic’!) have made
average working Indian’s life so much better. The most important aspect to be
really proud of is that some of the leading e-commerce websites are the
brainchildren of our fellow Indians, who pocket rewarding profits for the
expertise which they invest in the business. This expertise, in turn, helps our
economy in generating the valuable revenue needed for further investing
prospects. In other words, e-commerce websites are hugely contributing to keep
this whirlpool of money creation going. Being a monopolistic market, the tussle
is huge among these players, but the ultimate beneficiaries in this competition
are the consumers, rulers of the market. Understanding clearly that in a
monopolistic market, consumers buy by choice and not by chance, we have seen
revolutionary trends in the field of online shopping also, wherein only one
website exclusively launches a particular book or a mobile phone of X brand.
When I read of such enthralling business strategies, I truly believe in the
fact that innovation is another name of business. Businesses cease to exist in
the absence of innovation and risks. Another inspiring thing that I find in this
entire competitive environment is that these websites are exemplars for
so many budding entrepreneurs, which means giving a boost to the innate
talents. Many logistics companies, too, reap handsome benefits, when we talk
about shopping online. Hence, it is a chain of overall development in form of
additional employment opportunities and promising salaries.
When
I am not in a management-student-thinking-mode, I think about the way I used to
buy things as a child. Personally visiting a shop, seeing, touching and feeling
a product and then making a wise decision of buying the best item… Life seemed
so simple! It may be contradictory to the statement ‘Technology has made human
lives simpler’, yet we hear cases of unhappy buyers of online purchasing, in
spite the companies’ best efforts to provide quality products. Also the cases
of credit card frauds, hacking and money laundering make online payments a
risky venture. But as it is said, “Nothing, but change is constant”, we too
have to walk with the changing environment and scenarios with its concomitant
cons, be it in business or in life. To quote in Economics parlance, maximum
utility in life can be achieved only when something satisfies our needs and fulfills our wants at the cost of our deserved hard-earned money!
