E-retail and the related space of E-commerce was elaborately addressed and very well received by the speakers, attendees, exhibitors and awardees alike at the two day e-retail Congress 2012, organised by Franchise India along with UTV Bloomberg as the co-presenters recently. As per a report by Forrester Research, India will be the third largest internet base by 2013 – with China and US taking the first two spots respectively.
Though having been almost a decade behind the West in adopting the virtual technology, India emerges as the leader in the internet growth revolution.
Setting the pace
The Indian online retail industry is slated to touch the Rs 7,000 crore milestone by mid 2012, and retailers having set up online businesses, have shared their take on the same by admitting that the business model has picked up and grown by leaps and bounds over the past two years.
Taking into account the approximate 10 million Indian e-commerce consumers, there has been a mounting choice of online stores that sell almost everything – from books to travel experiences. The online retail industry is evolving to create a bright commercial ecosystem. Gaurav Marya, President, Franchise India shared his take on the same and highlighted the fact that with 100 million internet users supporting the e-revolution, the total number of transactions in India is set to take a leap from the present 8-10 million to 40 million by 2015.
Franchise India also published the ''Indian e-Retail Report 2012'' which was unveiled on the first day of the conference. The report encapsulates a comprehensive aggregation of useful research, facts and figures which address a diverse audience, helping them grasp a better understanding of a nation going digital. Referring to the growth in the eTailing market, the report pointed out that the same is driven by the need to save time by urban India. It further pointed out that about 50-53 per cent of the demand comes from Tier 2 and 3 towns.
Experts believe India's e-commerce market is expected to grow from $10 billion in 2011 to $200 billion by 2020. Furthermore, nearly $ 350 mn has been pumped into 40 e-commerce startups till the end 2011 compared to $ 43 million in 11 companies in 2009.
The information exchange platform
The Congress brought together the key policy makers, retail professionals, corporates, vendors and suppliers – both of national and international level for deliberations and interactions that led to the sharing of learning and knowledge, drawing attention to best practices and promoting innovation to capture consumer interest in the e-retail segment.
While the Congress presented itself to be an opportunity to bring together ministers from telecom and IT industry, senior representatives of national government, trade bodies, retailers, suppliers, vendors, policy makers, investment groups and stakeholders of the retail sector, the expo emerged to be an ideal platform to showcase products for services to cater to the e-retail sector..
The awards focused on recognising some tremendous work and contribution made by various industry experts who are part of this affluent industry. The basis of the awards was mainly acknowledging outstanding creativity and customer service that is on offer throughout India.
Some of the key speakers addressing the two-day conference included Mahesh Murthy, Founder, Pinstrom; Pawan Gadia, CEO, Ferns N Petals; Muralikrishnan B, Country Manager, eBay India Pvt Ltd; Umang Bedi, MD, Adobe Systems; Mr. Cory York, Founder and CEO, Social Linked Digital Commerce; Gaurav Kachru, CEO, dealsandyou; Nitin Padmawar, Director, Technology, Martjack; Puneet Kumar Bhatia, Director - Internet Business Solutions, Cisco among others.
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