Skip to main content

E-tailing set to grow in India

India’s e-commerce industry has recorded massive growth during the last five years. The factors contributing to this growth include increasing number of internet users, growing acceptability of online payments, availability of a cash on delivery option and favourable demographics. Will India’s e-commerce industry continue its growth trajectory? Spire Research and Consulting conducted a research study on India’s e-tailing industry among 300 Indian retailors in the apparel, consumer electronics and food sectors. The findings of the study were further published on Asahi Shimbun’s Japanese website.

According to research findings, 91% of Indian companies in the apparel, consumer electronics and food sectors offer online shopping solutions to customers. The overwhelming take-up can be attributed to the introduction of online payment systems and developments in logistics infrastructure.
Over 54% of the online businesses reported a growth of more than 20% in sales revenue post increasing their presence online. Furthermore, the report shows businesses in the apparel (82%) and food industry (80%) benefitted the most by going online.

Needless to say, growth of the e-commerce industry relies highly on infrastructural development, inventory management and developing sufficient in-house logistics capabilities. Significant investments will be required to create an efficient logistics infrastructure to assist India’s e-commerce service providers.

There is still more scope for e-commerce to grow in India. 45% of the companies adopting e-commerce expect to see their businesses grow by between 20% and 50% by 2020.

Labels:

Comments

Post a Comment

Popular posts from this blog

ASEAN gaming on the rise

ASEAN’s gaming market is set for rapid growth. By 2017, there will be an estimated 80 million middle-income households, adding more consumers in the 20-50 years age bracket. This means gaming revenues will reach USD2.2 billion – double in value. What factors contribute to this emerging market? With improved broadband infrastructure and more disposable income, online as well as mobile gaming is increasingly accessible. By the end of 2016, there will be 230 million smartphones in Asia – which means more potential users. ASEAN governments have been quick to cash in. For instance, game developers in Indonesia receive subsidies to encourage market growth whereas the University of the Philippines actively promotes game development and design courses, hosts gaming events as well as offers scholarships to attract students. However, the gaming market in ASEAN is highly fragmented. Each ASEAN country has unique preferences and gaming behaviour. No one single publisher or format c...
Post a Comment
Read more

Hong Kong maintains its global financial center tag

After 20 years of becoming an independent judiciary, does Hong Kong continue to remain a financial and business hub? Will this impact businesses in Singapore? Leon Perera, CEO of Spire Research and Consulting shared his insights in The Business Times – Views from the Top section on 10 July 2017 on Hong Kong’s economic climate and its impact on businesses in Singapore. Hong Kong continues to attract investors due to many factors such as a high- quality civil service, economic linkages to China’s Pearl River Delta economy as well as geographic proximity to the economic giants of Korea, Japan and China. Perera opined that despite economic and political uncertainties as well as what some perceive as political encroachment from Beijing, Hong Kong will remain an important business hub for the foreseeable future. Hong Kong both complements and competes with Singapore. Many multinational corporations (MNCs) use both cities as Asia-Pacific regional headquarters (RHQs). Shanghai ...
Post a Comment
Read more

The ultimate precious cargo – Human organs

The transportation of human organs – especially a donor’s heart – is usually done by packing it in ice inside a cooler box and getting it to the hospital as quickly as possible. Transporters have to race against time. The heart is only viable and capable of being transplanted between 4 and 6 hours after death. But a lot can go wrong during such journeys – traffic jams, bad weather or mechanical difficulties can cause delays. In addition, a heart can be damaged if it is warmed up at the end of surgery; meaning it cannot be “tested” until the transplant operation is complete. The introduction of a new heart-preservation system is set to change all that. Manufactured by Transmedics Inc. in Massachusetts, it is specifically designed to pump oxygenated donor blood and keep the heart in “a warm, beating and functioning physiological state outside of the body”. Moreover, the heart can be monitored to keep beating for up to 12 hours. Should trials of this new system be successf...
Post a Comment
Read more

Korea needs to focus on developing service robots

The Korean robotics industry grew by 60% a year between 2005 and 2011. Korea has a strong position in industrial robots. Now, the government’s focus should now be on developing service robots to sustain growth. Spire Research and Consulting shared its insights, published on the Business Korea news portal. Korea’s industrial robot sector is larger than any country’s, except for Japan, China and the U.S. However, the service robot sector is emerging as a new growth hotbed, thanks to the accelerated use of artificial intelligence. However, Korea does not have any companies that specialize in the development of service robots. It will take time to further develop Korea’s service robotics technology which is where the government and Korean enterprises need to step in and focus so as to claim early global leadership. https://www.spireresearch.com/newsroom/media/korea-needs-to-focus-on-developing-service-robots/
Post a Comment
Read more

Getting to a unified digital payment system for Singapore

Nets – the leading payment solutions provider – recently announced that it would launch new payment modes across all of its 100,000 acceptance points in Singapore by mid-2018. What does this mean for Singapore’s quest for a unified payments system? Japnit Singh, Deputy Chief Executive Officer at Spire Research and Consulting shared his insights, published on Today Online’s news portal. Japnit opined that the infrastructure laid out by Nets for a unified point-of-sales terminal is a big step forward. But what was needed was an open platform with other payment companies able to join, to ensure competition. This is seen in the telco industry where infrastructure sharing is required. The new payment modes that Nets will implement include an app storing a digital version of Automated-teller machine (ATM) cards, new contactless cards along with mobile payments through Quick Response (QR) codes. It remains to be seen if transaction fees will be hiked. If so, merchants will h...
Post a Comment
Read more