Dhaka, Wednesday, 17 July 2019

E-com to play major role in India


Apparel Desk: E-commerce has revolutionised the retail sector in India and will play a major role in the country’s growth story going forward.

Driven by the growth in India’s retail market, the country’s GDP will also witness an increase and result in more job opportunities.

India is currently growing at over seven per cent and if the country has to grow at nine per cent then the e-commerce market will have to play a major role. Traditional retail market and modern retail market (e-commerce) will co-exist in India even as consumer behavior is changing.

Given the strong retail and consumer outlook, India is expected to witness redefining trends in the consumer market which will shape the future of the retail industry. Further, as the internet penetration in the country increases and more international retailers start operating in India, the share of the organised retail market is expected to increase from 12 per cent in 2017 to about 25 per cent by 2021.

This will also be driven by the growth of the e-commerce market from 24 billion dollars in 2017 to 84 billion dollars in 2021. Increasing online shopping, smart phone use and internet penetration across semi-urban and rural segments would also help boost sales.