Indian e-commerce, pegged at USD9.5 billion last year (including online travel bookings) according to a study by the Internet & Mobile Association of India and KPMG, would be a force that would take on physical retail head on, possibly forcing the closure of many brick-and-mortar stores.
That the market stood at just USD3.8 billion in 2009 and is projected to grow to USD12.6, according to the study, by the end of this year shows the potential in this space.
In India, the category took off with a deluge of portals, including those focused on travel, media and jobs, at the turn of the century, building into a bubble that burst systematically in ensuing years. Now, just a handful of serious players are left in this sector.
(Source: Business Standard)