- Increasing broadband Internet (growing at 20% MoM) and 3G penetration.
- Rising standards of living and a burgeoning, upwardly mobile middle class with high disposable incomes
- Availability of much wider product range (including long tail and Direct Imports) compared to what is available at brick and mortar retailers
- Busy lifestyles, urban traffic congestion and lack of time for offline shopping
- Lower prices compared to brick and mortar retail driven by disintermediation and reduced inventory and real estate costs
- Increased usage of online classified sites, with more consumer buying and selling second-hand goods
- Evolution of the online marketplace model with sites like eBay, Flipkart, Snapdeal, Infibeam, qnetindia, Dealkyahai.com and Tradus. The evolution of ecommerce has come a full circle with marketplace models taking center stage again.
India’s retail market is estimated at $470 billion in 2011 and is expected to grow to $675 Bn by 2016 and $850 Bn by 2020, – estimated CAGR of 7%. According to Forrester, the e-commerce market in India is set to grow the fastest within the Asia-Pacific Region at a CAGR of over 57% between 2012–16.
Vishal is lead Technology Consultant and founder member of Ranadive Consultancy Services Pvt. Ltd. He is carrying Engineering degree in Electronics & Telecommunication Engineering from University of Pune. He is a multifaceted professional with core competencies in Computational techniques, ERP & Business Consultancy. With more than 14 years of experience in his field