India’s e-commerce market is expected to grow from $83bn in 2022 to $150bn in 2026. Flipkart and Amazon account for almost 60% of this market, with the balance being cornered majorly by Reliance, Tata and a bunch of other players. But the growth potential is massive.
India has the widest telecom technology adoption with the highest ever penetration amongst the emerging economies coupled with most economical telecom tariff and access. A significant proportion of the country will move to 5G over the next 2 years.
Affordable and capable technology leads to its rapid adoption which is a precursor for e-commerce.
Such strong captive market along with a dominant affordable technology presence is sure to push e-commerce, making it attractive and create space for more e-commerce players.
Coupang (South Korea) exploring to enter the Indian e-commerce markets therefore is not a surprise. Welcome to India ! For customers, competition always wins.