2021 Ecommerce Market Outlook: Big Things Are Happening
HTF Market Intelligence has released a new 86-page research report on the title ‘India Ecommerce Market 2021’ with detailed analysis, forecast, and strategy. The study covers key regions which include North America, Europe or Asia and important players such as Infibeam Avenues Ltd., Info Edge (India) Ltd., Thomas Cook (India) Ltd., BigTree Entertainment Pvt. Ltd., Flipkart Internet Pvt. Ltd., Jasper Infotech Pvt. Ltd., MakeMyTrip (India) Pvt. Ltd., One97 Communications Ltd. and People Interactive (India) Pvt. Ltd.
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Summary In 2020, the e-commerce market was valued at INR 4,448.39 billion. It is expected to reach a value of INR 10,585.27 billion by 2026, with a CAGR of around 18.29% during the period 2021-2026. Affordable smartphones, increased internet penetration and efficient payment channels such as mobile wallets and streamlined logistics infrastructure are propelling market growth. The Indian government is leveraging e-commerce platforms to transform and organize traditional businesses offline.
Market Segment Overview: Based on product categories, the market may be segmented into online travel, retail, financial services, wedding and classifieds, and other services. In 2020, the online retail segment held the largest market share (~ 44.25%), followed by online travel (25.10%). Improved air and rail connectivity between Tier I and Tier II cities has increased domestic travel bookings, primarily through online platforms. However, as a result of the pandemic, countries around the world have been forced to close their international borders. Domestic and international flights have been canceled to curb the spread of the virus. Online travel aggregators reported no activity in the first quarter of fiscal 2021. Following the easing of travel restrictions and the acceleration of economic activity, they focused on leisure tourism such as travel and works. This should offset losses in the travel industry. The online retail segment (e-tailing) was valued at INR 1,968.41 billion in 2020 and is expected to reach INR 5,222.77 billion by 2026. It is driven by growth in Internet enabled devices, ease of purchase, innovative payment options, cash backs, and discounts, as well as rapidly changing customer needs.
COVID-19 impact assessment:
The pandemic and the lockdown that followed severely affected the market. However, it is expected to rebound, after an initial loss, as there are long-term growth opportunities in all of its business segments. Since March 22, 2020, it has experienced disruption and suffered losses of more than INR 27.67 billion in one week (March to April 2020). Both demand and supply have been affected due to the shutdown of economic activities. Online shopping has suffered a setback due to restrictions on physical movement and the closure of businesses, which has impacted the supply chain. About 8% of modern retail could not function because the sale of non-essential goods was prohibited. As a result, there has been a steady decline in the sale of Fast Turning Consumer Goods (FMCG). The e-grocery segment has grown rapidly in light of current events. The hygiene and personal care segment experienced steady growth in the first quarter of fiscal 2021. It accounts for approximately 4.5% of the total gross merchandise volume (GMV) of e-commerce platforms.
Competitive outlook: Ecommerce companies have introduced various technologies such as voice recognition, virtual reality (VR), augmented reality (AR), fintech, artificial intelligence (AI) and machine learning (ML) to attract customers and compete with other players. Organizations such as Amazon, Flipkart, Goibibo, Ola, Zomato, and Ixigo have employed voice assistants to help customers with their queries, thus improving customer satisfaction. They also use financial technology-based payment platforms such as PayPal, Apple Pay, Google Pay, and Amazon Pay to provide secure and efficient online payment methods to consumers. Companies covered â¢ Infibeam Avenues Ltd. â¢ Info Edge (India) Ltd. â¢ Thomas Cook (India) Ltd. â¢ BigTree Entertainment Pvt. Ltd. â¢ Flipkart Internet Pvt. Ltd. â¢ Jasper Infotech Pvt. Ltd. â¢ MakeMyTrip (India) Pvt. Ltd. â¢ One97 Communications Ltd. â¢ People Interactive (India) Pvt. Ltd. â¢ Amazon India Ltd.
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Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction 3.1. Definition and structure of the market 3.2. Business plans
Chapter 4: Market overview 4.1. Overview of the Electronic Commerce Market in India 4.1.1. Market Size and Growth Forecast (2020 – 2026e)
Chapter 5: Market segmentation 5.1. Segmentation of the e-commerce market in India 5.2. Overview of the online travel market 5.2.1. Online Travel Services Market Size and Growth Forecast (2020 – 2026e) 5.2.2.
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