E-commerce: Market empowering force for retail industry

With India’s retail industry set to be worth $1.2 trillion by 2021, the country’s job-creating segment of micro, small and medium enterprises (MSMEs) needs new ways to capitalise on this momentum. For new-age retailers, the solution is evident: ecommerce.

The marketplace model of ecommerce is designed to specifically empower local businesses, particularly MSMEs, artisans and traders, allowing them to benefit from economies of scale and access a pan-India customer base in an efficient, cost-effective and transparent manner. During the Diwali season, many online sellers saw 4-5 times growth over the month-long period. Lakhs of jobs were created to support the ecosystem backed by robust technological innovation.