Indian eCommerce Market to Grow with Fashion and Grocery in 2018
At the beginning of 2017, no one could have ever wondered how that year is going to be one of the stellar years for the startup and eCommerce businesses in India. With all the funding down and pessimism all around, the overall outlook was bleak. Yet, it all changed since January and the year became one of the most fruitful years.
Considered as one of the eCommerce leaders in India, Flipkart showed the way by raising $1.4 billion in the month of April. In August, SoftBank Vision Fund made an investment in Flipkart and a whopping investment of $9.4 billion flowed into the Indian startups between Q1 and Q3. In 2017, there was a steady growth of eCommerce due to factors like customer focus, innovation, and market expansion.
Secondly, there was a rise in Indian companies related to logistics, payments, and fintech. This helped them become a part of the market expansion for the betterment of supply chain processes. Among the eCommerce business, fashion and grocery are expected to be significant focus areas in 2018. They have the widest customer base and highest potential.
In 2018, to cater to this growing demand, AI and data sciences are expected to play a big role for the eCommerce businesses and logistics companies. Artificial Intelligence will be utilized in areas, such as pricing, personalization, planning, and last-mile operations. With the emergence of Flipkart in 2007, the eCommerce industry in India has matured to an extent, and more growth is expected this year. The future looks challenging and bright with more revenue and investments.