The online retail market in India will record a compound annual growth rate of 55.7% from 2013 to 2018, a new research has predicted.
The growth, London-based tech-research firm TechNavio claims, will be driven by increased adoption of smartphones and other mobile devices in the country. The growing popularity of social media networks and better e-commerce payment options will further fuel the trend.
“Internet access from cellphones has witnessed a quantum leap in India in the past few years,” says Faisal Ghaus, vice-president of TechNavio, who noted that 81% of the Indian population – or 910 million people – used a mobile phone in 2013, including 105 million who used them to access the Internet.
He says retail sales via these devices will account for a significant proportion of total online retail sales over the next four years and the growing popularity of social networks will also make an impact.
Mobile users in India are thought to spend more than 25% of their total time on social networks and, with roughly 100 million Facebook users, the country is expected to surpass the US in the near future for usage.
Further encouraging news for retail brands came with indications that the Indian government is reportedly poised to use its forthcoming budget to announce an easing of restrictions for foreign online retailers. If the initiative goes ahead – and it is believed that it could happen as early as July – then it is expected that it will lead to lower costs as middlemen are cut out of the supply chain.
It could also help domestic online retailers, such as Flipkart and Snapdeal, by improving their logistics network and driving down capital costs.
According to a report by the United Nations, the fashion industry accountsFebruary 18, 2021 | By Shruthi Nair
The jewellery making industry has been under tremendous scrutiny over the yearsFebruary 11, 2021 | By Shruthi Nair
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
Homegrown, organic and plant milk company, Koita has announced its expansion into
Retailers in the Middle East are making strides in their multichannel offerings,
Gulf Marketing Group (GMG) is gearing up for a continued surge in
Blush & Bloom, an online maternity boutique that provides maternity, nursing, and
Abu-Dhabi based Rizek, the first app for on-demand home services in the
It is impossible for any retailer to survive without e-commerce capabilities, according
The unprecedented challenges of 2020 made way for the untapped opportunities that
GCC-based noon.com, the homegrown digital marketplace, announced its biggest ever Yellow Friday Sale
A new UAE e-commerce platform, Flip19.com, goes live in Dubai. The site
British quality grocery retailer Waitrose & Partners launched its first e-commerce platform
The COVID-19 pandemic has forever changed online shopping behaviours, according to a
Swedish fashion retailer H&M Group adopts an integrated approach to grow, amid