Science & Technology

Indian e-commerce industry to boost by 141% over 4 years: research

Amid the pandemic, the retail industry has been at the forefront of India’s economic disruption

Indian e-commerce

Indian e-commerce industry to boost by 141% over 4 years: research. Source: unsplash.com

GlobalData has found that the Indian e-commerce industry is expected to grow steadily by 141% to $111.4 billion in 2025.

GlobalData’s Q1 consumer survey in India reveals that 84% of the consumers are still extremely/quite concerned about the impact of COVID-19 pandemic.

Reportedly, India recorded a 11-year high wholesale price index (WPI) in April 2021, as India continues to reel under the second wave of the COVID-19 pandemic. The unemployment rate in retail shot up by 8% in April (up by 1.5 ppts from March) causing 3.4 million salaried employees to lose their jobs.

The retail industry is the second largest employer in India. Small and medium-sized firms alone employ about 400-450 million people. However, the heightened inflation rate along with an equally high unemployment rate is weakening the consumer sentiment and affecting their purchasing power
Suresh Sunkara, Retail Analyst at GlobalData

In the post-pandemic scenario, Indian retailers across sizes are set to understand the power of omnichannel digital transformation.

The most resilient ones surviving this crisis are the omnichannel retailers. As a result, retailers with such approach have better chances of survival due to the convenience and experience that they offer.

We’ve reported that PayU teamed up with WooCommerce.

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