Blogs/E- Commerce: The Next Step for Retail

E- Commerce: The Next Step for Retail

April 4, 2017

E-commerce has expanded tremendously, to say the least and is set to create a change in the retail sector of the country. With customers getting the best rates for their choice of products, e-commerce is emerging as a preference for an increasing consumer base. Backed by high investment and a growing percentage of internet users, e-commerce has changed the face of retail.
Thanks to quick adoption of online services and faster internet speed provided by the highly competitive telecom industry, Indian e-commerce sales are expected to reach US$ 120 billion by 2020 from US$ 30 billion in FY 2016​. Additionally, the e-commerce market is expected to reach US$ 220 billion in terms of gross merchandise value (GMV) and ​around ​530 million shoppers by 2025.
​That said, e-commerce is not just beneficial to the buyers but even​ to​ the retailers, as it has helped in cutting down real estate costs by a sharp margin which has resulted in fewer expenses.​ ​Early adoption to the new channel of buying is the key to thriving in a market which is open for penetration by new players.​ ​A joint effort by organised and unorganised retail companies ​will only ensure that this new​ ​sales channel flourishes in the right direction.​​

Source: https://www.ibef.org/industry/retail-india.aspx

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