Where will e-Retail be after 2020?
Driven by urbanization, attitudinal shifts and income growth, India’s retail market is expected to double from US$ 600 billion in 2015 to US$ 1 trillion by 2020 as per IBEF. The tremendous growth of e-commerce market also plays an integral role in the high scale development of the retail sector; by 2020, ecommerce will be a $700 billion market (B2B) with 530 million shoppers by 2025, coming at par with offline stores within a span of five years. Against the backdrop of robust investment in the sector and proliferation of internet users, India is now expected to become the world’s fastest growing e-commerce market. e-Retail growing at a breakneck speed The past decade witnessed an increase in consumer spending, entry of key e-retail players, faster internet speeds on reliable telecom networks, expanded reach and increased adoption of online services as well as a greater need for convenience. As a result, traditional brick and mortar models today are witnessing a d...