According to Business market insights, it has been forecasted that Online retail in India would grow at a CAGR of 63 percent during the period of 2019-2020, primarily owing to the increase in mobile applications. The improvement in the internet infrastructure along with the impressive growth of the smart phone industry has made online retail all the more accessible to consumers.
The online retail market in India is filled with prominent players like Aditya Birla group, TATA group and Reliance industries that have enhanced their presence in innumerable ways. The growth of the online retail sector has put tremendous pressure on the brick and motor stores over the years. Due to the pervasive nature of the business it is said to benefit, by providing growth opportunities in areas like technology, media and telecommunication which will further cause a surge in demand in the retail market.
With government focus on building the online world in a more systematic manner for everyone, this growth that we see is only the beginning. The online world, over the course of time has largely catered to changing consumer buying habits and behavior by creating a world where everything is accessible under one roof and can be can be made available at the click of a mouse.