Indian e-commerce market set to touch $230 bn within a decade
The Indian e-commerce market size could reach $230 billion within a decade as it is outpacing the offline retail segment’s growth, said a report by the E-Commerce Council of India (TECI) and ChannelPlay.
It said that another 40-50 crore shoppers are likely to join the already existing nearly 10 crore online shoppers in India within the coming years. The report further said that India is at the cusp of a massive online boom, fuelled by low data tariffs, affordable smartphones, and growing Internet usage. After overpowering the metro consumers in tier-I cities, e-commerce is now strengthening its hold in tier-II and III cities and beyond.
Sellers said that platforms using pricing and demand insights from their platform to introduce private labels, which puts competing third-party sellers at a disadvantage. Similarly, 89 percent respondents said neutrality of the marketplace was important as a core principle and it should not have any of its own or related party sellers on the platform.