The new FDI guidelines for e-commerce have opened up a $40-billion opportunity for companies such as Ace Turtle, SnapBizz, Vinculum, Shopmatic and Fynd. These omni-channel retail enablers offer in-store solutions such as endless aisle, click and collect, ship from store, merchandising and promotions; apart from inventory, order, warehouse and logistics management.
Ace Turtle — an omni-channel platform company powering over 1,200 brand stores for over 50 retail customers including Puma, RayBan, Fossil, Max Fashions, Arrow, VIP, Aldo, Gant, etc — expects its turnover to grow eight times in fiscal year 2020 as the FDI guidelines for e-commerce provide a level playing field for all retailers (offline and online) prompting them to leverage the omni-channel opportunity.
Ratan Tata-backed SnapBizz expects a 10-fold boost in revenue in the next two years with a surge in demand for omni-channel retail solutions. The company’s solutions are currently used by over 60 FMCG companies, their distributors and over 5,000 medium size retailers.
As per eMarketer Research, the retail e-commerce market in Asia-Pacific is estimated to grow to $203 billion in 2021, of which omni-channel enabling platforms are expected to facilitate $22 billion in sales. The organised offline retail market is expected to grow to $357 billion in 2021, of which omni-channel enabling platforms are expected to facilitate $18 billion in sales.