Indian e-commerce retail industry value to reach $111.4 bn through 2025: GlobalData
Indian e-commerce industry is expected to grow steadily by 141 per cent to $111.4 billion in 2025, says the Q1 survey by GlobalData. As per Construction Week Online, the survey reveals around 84 per cent of India’s consumers are still concerned about the impact of the pandemic. Reportedly, India recorded an 11-year high wholesale price index (WPI) in April 2021, as it continues to reel under the second COVID wave. Unemployment rate in retail shot up by 8 per cent in April causing 3.4 million salaried employees to lose their jobs.
To trim down expense, some retailers are resorting to salary cuts. With retail stores and malls witnessing a precarious drop in physical footfall, some retailers are also contemplating layoffs and downsizing, says Suresh Sankara, Retail Analyst, GlobalData. In the post pandemic scenario, most Indian retailers are likely to embrace the omnichannel mode of retail.
