Extent of use of Electronic Media for Purchase of Goods & Services

Rapid technological advance during past few years have changed the pace of the goods and services industry. Economic integration on within and across the countries, destitution, advance in telecommunication and the growth of the Internet and wireless communication technologies are dramatically changing the structure and nature of the consumer markets. There is a new milestone being reached in business and commerce and the beginning of the 21st ’century is seeing a radical transformation in retailing of goods and services. There is a revolution taking shape how people shop, and the advent of the Internet is changing the business done electronically at a very fast space. It looks as though the retailers have to face up to a fundamental reappraisal of their ways of doing business. At minimum, they are going to become multi channel operators, experts at reaching and interacting with their customers in a variety of ways, not just through their physical stores. It will be question of being available wherever and whenever their customers want to shop, than the more traditional approach.