Be it cookies, ketchup, snacks or personal care and beauty products, most people can recall just 5-6 names but are unable to think of companies beyond that, the two investors said.
Indian ecommerce sales expected to cross Rs 5 lakh crore for the first time in 2023
Alagh was speaking at the launch of a report by Redseer, which projects the Indian BPC market at $30 billion by 2027, growing at a compound annual growth rate of 10 percent
Since June 5, 2013, when its India operations first started, Amazon has invested over $6.5 billion to grow categories like e-commerce and video streaming through Prime. It even launched vernacular languages on its platform, introduced two-hour deliveries, and announced Amazon Smbhav.
The Indian laundry services market is estimated to have a total addressable opportunity of $14 billion by 2025, with about 80 percent of the segment being B2C focused, according to analysts at Redseer.
Simply put, GMV is the total sales over a period of time. It may sometimes be the same as revenues depending on the type of business. For e-commerce companies, while GMV is a reflection of the total value of goods sold, their revenues are only the fees earned from sellers.
The government has been the force behind EV adoption with schemes like FAME and PLI, which should be continued for the next few years, a report by Redseer Strategy Consultants has said
To date, the startup ecosystem, as per the report, has produced more than 100 companies of greater than $100 million in revenue.
In India, with about a $3.9 trillion market capitalization, only about 1 percent can be attributed to tech/new age companies.
While Redseer did not disclose the performance of various platforms, the firm's Partner Ujjawal Chaudhry said that the overall performance of the e-commerce companies was in line with the findings of the company for the first week of the festive sale which was led by Flipkart in terms of total sales.
The festive month is generally defined as a period starting from the first sales event and lasting roughly till the Diwali week, including non-sale or business-as-usual days in between, according to Redseer.
New online distribution models such as B2C, B2B, and B2B2C are essential growth drivers, with B2C gaining substantial traction, the report added.
The marketing push is in line with the company’s vision to enable 100 million small businesses to succeed online in India, says Meesho’s Laksminarayan Swaminathan.
Indian e-tailing segment grew to $53 billion in 2021, said a report by management consulting firm RedSeer.
For the full year, the overall online gross GMV is expected to touch USD 49-52 billion, which is around 37 percent higher than last year (USD 38.2 billion), primarily driven by strong consumer funnel expansion and the high adoption of online shopping post-COVID across the categories, RedSeer said in its eCommerce Festive Season Report.
Offline retail and mobility is recovering almost upto pre-COVID-19 levels.
"In 2015 e-commerce was mostly dominated by horizontal. By 2020 it split across non-horizontal. Now an extremely diverse set of opportunities lies there for these six models," said Mrigank Gutgutia, director at Redseer.
The annual gross merchandise value or the value of total goods sold on the online commerce platforms is likely to be $55 billion in 2021 and $350 billion in 2030.
With market penetration of only 11 percent, the opportunity is huge, says the report by RedSeer. However, it adds, there is a need for regulation to rein in unlicensed players
Smartphones led the sale accounting for 47 percent of total festive sales, driven by new launches and affordable models with Rs 1.5 crore worth of smartphones being sold every minute across the online platforms in the first week of 2020’s festive sales.
Smartphones continued to be the biggest category, accounting for 47 percent of the overall GMV, driven by new launches and affordable models.
The gross merchandise value (GMV) stood at $2.7 billion a year ago
Most of the hiring by e-commerce platforms ahead of festive season is temporary and done ahead of time to prepare for surge in orders during the various sale periods. However, about 20 percent of these temporary workers are not let go at the end of festive season, RedSeer said.
The growth will be driven by COVID-19 driven massive adoption of online buying led by customers in smaller towns.
The RedSeer report also adds that the online cab industry which grosses nearly 20 lakh daily rides in India is expected to go up to 50 lakh rides by 2020.