Retail in Asia

In Trends

In India, it’s all about m-commerce

India’s e-commerce companies are racing to embrace mobile, with some ditching their web platforms entirely to go mobile-only such as online fashion retailer Myntra earlier this year.

Most recently, the country’s biggest e-commerce player Flipkart unveiled a new mobile website on November 9, which aims to give users an experience close to standalone apps.

"In July 2014, we had about 15 percent of transactions coming from mobile. In a year, we have gone from 15 percent to 70 percent. This kind of revolution is almost unforeseen and we have to come up with a whole new set of products to deal with that," Flipkart’s chief product officer Punit Soni told CNBC in September.

According to a report released in April by market research firm Zinnov, India’s mobile commerce market could balloon to USD19 billion by 2019, up 850 percent from its current size of USD2 billion. Surging smartphone sales in the world’s second most populous country amid a tidal wave of low-cost handsets is the key driver, the report said.

(Source: CNBC)