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