India’s digital economy is expected to reach $ 800 billion by 2030, and consulting firm Redseer announced on June 30 that it will be the third largest digital economy.
Fixed at $ 850 billion in 2020. According to the
report, the annual total commodity value (GMV) or the total commodity value sold on online commerce platforms is expected to be $ 55 billion in 2021 and $ 350 billion in 2030.
According to Anil Kumar, now RedSeer’s founder and CEO, 50% of customers say they use online services for convenience, unlike a few years ago when about 70% were discounted. I will.
He also said that since COVID, digital services have expanded further and customers are willing to stick to the online platform. With
“COVID, digital services are definitely serving their customers very well. This is also showing high customer satisfaction and motivation to continue digital as a major channel to meet customer needs. The next wave of entrepreneurs creates innovation .I will make the Indian model a global success,” he said.
COVID19 has changed the penetration of e-commerce across small towns. According to the
report, 88% of online shoppers will come from Tier 2 cities between 2020 and 2030. Additionally, over $7 billion in cumulative online retail transactions and over $150 billion in online retail GMV are added in Tier2 cities.
Through several startups that enable cash-free payments and digital bookkeeping capabilities kiranas, the sector is expected to achieve sales of $ 1.5 trillion by 2030. Employment opportunities for 500,000 geek workers in 2020. The injuries of e-commerce and the emergence of the need for professional delivery services have led to the overall growth of the logistics sector.
My name is Mayank Bansal I have a keen interest in writing about the latest happenings in business and market. I am a news writer at review minute.