Indian e-retailer market slowing down |
India`s online retail market could see a marginal slowdown in its annual sales growth owing to fall in consumer spends and recent government policies. But this does not deter its position as the fastest-growing e-retail market tag as China is seeing a slowdown too. China, which is a bigger market than India, would grow at an annual rate of 13.7% even as India would clock nearly 26%. It`s a mix of reasons that has led the revision of estimates. First, consumer spending across segments is slowing down and recent policy changes have caused an additional dent to e-commerce sales. The revised growth estimates are of significance as both Walmart and Amazon are trying to win India, the only major market left outside the US. Alibaba dominates China and Amazon recently announced that it is shutting operations there. On the much-hyped market share battle, both Amazon and Flipkart continue to be at a neck-and-neck level with gross sale market shares of 31.2% and 31.9% respectively, on a standalone basis, like 2017. This does not include Myntra and Jabong for Flipkart.
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