Bengaluru, 26 June (IANS). India is expected to reach $ 300 billion in 2030 by the end of the decade, starting from the base of $ 30 billion in the online commerce Sector 2020, which will be a significant contribution to the $ 1 trillion digital opportunity in the country. This information was given in a latest report.
Besmer venture partners said in a latest report that it shows that it has firmly established itself as a major power within the Indian retail landscape for an important and growing part of the population.
Anant Vidur Puri of Besmer Venture Partners said, “India presents a digital opportunity of $ 1 trillion. The rise of many consumer markets, platforms and new-age brands in the last decade is a proof of the growing aspirations of emerging India. It makes us optimistic about the possibility of emerging many more consumer plays in the coming years.”
Internet access, change in demographics and policy changes together are one of the trends that have carried forward the consumer companies of the new era.
The report said that later, it is the development of commerce marketplace, content platforms and changing consumer aspirations, which will help new companies win in Indian context.
India’s emerging online commerce sector has seen extraordinary expansion in recent years.
In addition, the recent rise of Quick Commerce (Q-Commerce) has introduced a new dimension in online retail ecosystem, which has brought more revolution in the way consumers reach the goods.
Platforms such as Bigbasket, Blinkit, Swiggy and Jepto have led the movement, which shows the viability and consumer appeal of the rapid delivery services.
The segment is seen to have a trend of emergence of verticalized Q-commerce, in which startups like Snabit, Swish and Slick are meeting special needs.
Finally, the detauxy brands are rapidly serving ambitious mass-sammium audiences, a class that demands new, better priced, high quality products.
According to the report, the percentage of F&B spending in health-centered food and beverage (F&B) category has increased from 11 percent to 16 percent and it is expected that it will continue to increase as the brands are moving fast in adopting this trend.
-IANS
SKT/
