The key growth drivers will be greater Internet penetration, a rise in the number of online shoppers and an increase in per capita income.
"Per capita incomes are likely to double by 2025 and this should drive higher aspirations of the Indian consumer," according to the report.
The top three online retail platforms dominated the Indian ecommerce market in 2015 with a combined market share of 83 per cent. Flipkart, including Myntra, maintained its top position with a 45 per cent market share, followed by Snapdeal (ex-Freecharge) at 26 per cent and Amazon India at 12 per cent. Paytm had a 7 per cent share. At $13.8 billion, the GMV of the top three e-commerce companies exceeded that of the top 10 offline retailers at $12.6 billion last year. (SH)
Fibre2Fashion News Desk – India
| On 21st Apr 2021
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