India to generate an additional INR 7Tn e-commerce sales by 2025
According to recent data from global market research firm Euromonitor International, India is predicted to earn an additional INR7 trillion in online sales by 2025.
Euromonitor has released a new report titled "Top Trends Influencing India's FMCG Industries in 2021," which identifies the most influential trends shaping the future of India's fast-moving consumer goods (FMCG) markets, assisting companies in defining priorities and opportunities in a post-pandemic environment.
In 2020, India will see a surge in online demand for critical products and foodservice, resulting in growing use of digital payment solutions such as digital wallets and highlighting vulnerabilities in the current infrastructure.
Longer than expected delivery delays are the top difficulty for 42% of connected consumers when shopping online, according to Euromonitor's Voice of Consumer: Digital Survey 2021.
“India expects a third wave of COVID-19 infections by the end of 2021, prompting brands and merchants to continue investing in the digital area to boost online distribution,” says Vishnu Vardhan, a consultant at Euromonitor International.
In India, the country's growing reliance on internet shopping is prompting brick-and-mortar retailers to reconsider the purpose of their stores.
Vardhan says, "Companies are leveraging technology that link retail and online channels to deliver a smooth purchasing experience." “Brands and retailers must adopt methods to rapidly and efficiently address consumer demands.”