Increasing internet usage and IoT-linked devices, along with the presence of leading entities like Amazon, Flipkart, Paytm, Adani, SBI and Snapdeal, will stimulate the market and promote growth
In what can be termed as a positive during a year marred by the pandemic, e-commerce has carved out a niche for itself in the Indian market. Preventive measures and travel restrictions imposed by the government since March 2020 have only added to the growing popularity of e-commerce and its allied sectors.
In the Indian market, the e-commerce sector has a huge potential and makes for a good investment. Recently, Adani Wilmar joined the ranks as it rolled out its own app called Fortune Online which will act as a one-stop shop for all products under the Fortune brand. This development really underlines the importance of e-commerce to companies like Adani. SBI is another player that has long-term plans to develop the sector and introduce more Micro, Small and Medium Enterprises (MSMEs) to the digital platform.
Online shopping became the norm as containment measures followed, driving up demands and pushing businesses to adopt the digital platform. Established players like Amazon and Flipkart reported a growing adoption of digital platforms by smaller businesses too. The e-commerce sector is expected to grow significantly, crossing $84 billion in 2021 and finally reaching $188 billion by 2025. Increasing internet usage and IoT-linked devices, along with the presence of leading entities like Amazon, Flipkart, Paytm, Adani, SBI and Snapdeal, will stimulate the market and promote growth.
Interestingly, SBI is working with the MSME Ministry to set up a portal which will allow MSMEs to market their products domestically and internationally. The e-commerce portal called Bharat Craft will compete with the likes of Amazon and Flipkart and promote an ease-of-doing business for smaller entities. The portal would act as a B2C platform where MSMEs can take advantage of digitalization and become a part of the e-commerce industry.
Most experts feel that the changes brought in by the pandemic may cause irreversible shifts in the e-commerce industry which will linger on long after normalcy returns. This bodes well for players like Flipkart, Adani, SBI, Myntra, etc. as the sector’s long-term growth prospects are certain. However, this also means that stiff competition for market share can be expected as companies strive to capture larger customer base through faster delivery, zero shipping charges and better services.