We already know India is a red hot market when it comes to e-commerce. The country's 1.3 billion people are rapidly becoming more digital and the potential for e-commerce services is therefore huge.
Something that we have seen not only in Amazon throwing billions at it's own business in India.
Huge Growth Expected
The company JSB Market Research based in Mumbai, India, calculates that by 2022 the online grocery market in India will generate $17.39 billion.
- Now people not only buy fashion and comfort accessories here but also their daily grocery needs. The reasons for such an expansion are higher purchasing limit of individuals, time convenience, more of mobile internet penetration and higher usage of smart devices, writes JSB Market Research.
The projected growth is said to be huge considering that Internet services and shopping being comparatively new to India.
Young Generation Preferring to Buy Online
India's retail market is however fragmented with some 12 million stores which JSB says could be one of the challenges for the digital boom, food as well as other products. There may be challenges but the rise in the industry of e-commerce in India is bringing the online grocery market with it.
- The changing lifestyle, ease of purchase, technology advancement, and young generation preferring to buy products on the internet, the vogue of obtaining food, utilities via digital medium is strengthening. Urbanization is another reason leading to the industry boost, JSB concludes.