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Organised retail penetration expected to reach 10% 2020 against current 7%
Globally it is $100 billion business while in India it is hardly a $200 million business but is expanding at over 40% year over year.
Blockchain technology will also guarantee a more transparent supply chain with consumers having access to all the information to determine whether a product meets their standards.
So far Walmart India has retrofitted the lighting systems in all its stores with LED lights. This has reduced the stores' electricity demand by 15-20 percent, Walmart India said.
Growth will be aided by several factors including rising internet penetration, drop in data access costs, shift to smart phones, flow of credit to consumers and micro enterprise increase in domestic consumption, affluent middle-class and rising income and
For a country that has over 200 million online consumers, who share personal data that starts from mobile numbers to postal address and goes up till bank details, protecting the data of these consumers is no small feat.
The growth in the online consumption is attributed to improvement in logistics.This is drastic rise from 108 million consumers who shopped online in the year 2017.
With the demand for refurbished or second-hand smartphones predicted to grow by up to 27% in the coming two years, Togofogo wants to significantly capture the offline market through an organized channel.
The company is also looking to grow its footprint in tier II cities.
Although it is not clear yet how many employees will be under the firing axe radar, sources said it is happening across verticals and a few management level employees have already put papers.
Many eyewear start-ups such as cleardekho, glassic, coolwinks amongst others are changing the eyewear industry forever.
The article presents top learning for retailers from Venture capitalist Mary Meeker.