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India's e-commerce industry will consolidate: Spire

Wed, Oct 29, 2014, 05:26 PM
New Delhi, Oct 29 : The burgeoning Indian e-commerce industry is all set to consolidate in the next five years and only two to three big players will survive, Japnit Singh, senior director, Spire Research and Consulting, Singapore and India, said here Wednesday.

"In the next five years there will not be too many players, maybe 2-3 big players who have the financial capability will survive. We expect a lot of merger of small players by big players," Singh told IANS.

Spire Research, a market research consultancy specializing in global emerging market, Wednesday launched its White Paper, India's E-Tailing Industry-Seller's Perspective.

"The study indicated a growing trend towards adoption of online channels. Over 50 percent of businesses currently account for significant revenue share from online sales, with revenue shares set to rise significantly over the next five years," Singh said.

Spire's study revealed majority of businesses have accepted online platforms as an extension of their brand. Businesses in the apparel (82 percent) and food (80 percent) sectors seem to have an advantage by going online as compared to consumer electronics (72 percent), it said.

Moreover, consumer electronics seem to have a lower potential as consumers are more inclined to be involved in the purchasing process, Spire said.

According to the study, there is expected growth from other sectors as well which consist of baby products, books, home decor and jewellery.

Spire also forecasts that by 2020, 45 percent of businesses will see their online share grow to between 20-50 percent of sales.

The survey was done across 13 states on 300 retailers through one-on-one, online and telephonic communications.
Agency: IANS
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