If you are thinking of selling in India, then go online. With some 690 million active Internet users, India is the second-largest online shopping market in the world. The e-commerce industry in the country is snowballing. In the last three years, market turnover has doubled from 20 to more than 40 million dollars. Plus in a national survey at the beginning of 2020, 74% of Indian internet users indicated that they had made at least one online purchase in the past month. Online shopping giants such as Wal-Mart, Alibaba and Amazon are investing billions in India. For now, the corona crisis is not throwing a spanner in the works.
The effect that the global COVID-19 outbreak, and the Indian lockdown that followed, will have on the country’s economy is only a guess at this time. But what is already clear is that the Indian eCommerce sector has benefited from the lockdown so far. Indians can no longer go to supermarkets or malls and have moved quickly to getting daily products numbers online. “We see a significant jump in orders, which increased by some 20 to 30% in March and we expect online shopping to grow even faster in the coming months,” said Vipul Parekh, one of the founders of BigBasket, India’s second-largest online supermarket.