India’s e-commerce industry eyes a 141% boom by 2025
Long-term outlook is optimistic, supported by rising income, favorable demographics and the entry of foreign players.
The Covid-19 pandemic has opened up new avenues of consumer demand fulfilment for retailers around the world – and India is no different.
Even with the pandemic abating from its peak of the second wave, the retail industry has been at the forefront of the economic disruption in the country. As brick-and-mortar business operations come under pressure due to frequent local lockdowns, consumers are increasingly preferring the online mode to purchase goods and services.
Thanks to this increasingly robust trend, the Indian e-commerce industry in retail is expected to grow at a jaw-dropping 141% rate from $46.2 billion in 2020 to $111.4 billion in 2025, according to GlobalData.
“The retail industry is the second largest employer in India. Small and medium-sized firms alone employ about 400-450 million people. However, the heightened inflation rate along with an equally high unemployment rate is weakening the consumer sentiment and affecting their purchasing power. On the other hand, the liquidity in the retail businesses is driven by seasonal sales and collections,” said Suresh Sunkara, retail analyst at GlobalData.
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