Spends on protective equipment have gone up by 100 times over the last couple of months. Mask is one such product, demand for which jumped. Many online platforms such as Moglix & Industry Buying have also delivered a few hundred thousand Personal Protective Equipments to various healthcare service providers during the last 2 months.
As Covid-19 continues to hamper business operations across domains, a lot of SaaS players are emerging in the Small & Mid size Business (SMB) space with customised solutions specific to small businesses. While large retailers have tied up with ecommerce platforms directly, smaller offline retailers, traders & enterprises have turned to SaaS players for tech enablement services.
Reliance Retail aims to be India’s largest Omni-channel retailer through its hybrid online-to-offline e-commerce platform, for which it is deploying merchant point of sale (M-POS) machines. Currently, there are 15,000 digitized stores in the country. RIL plans to grow this to 5 million by 2023.
Rising Digitalization in Retail Sector: Traditionally, most of the MSME in manufacturing space in India were not technology-enabled and lacked in product distribution capability. However, as MSME’s now have started adopting the ecommerce channels, they will be able to get a better range of products at a better price and at great quality service. More than anything, these kinds of convenience when extended to corporate, can consolidate the demand, be it in infrastructure, industrial parts, agriculture equipment, raw material and more.
Growth in Indian E-commerce Market: The India’s e-commerce retail sector has grown to 65 million monthly unique visitors, accumulating an annual increase of ~55.0%. India’s e-commerce revenue is predicted to grow at the highest rate in the world, growing at an annual rate of 51.0% and increasing to USD 120bn by end of 2020 from USD 30bn in 2016. The sector has witnessed an increasing demand for innovative solutions such as A.I. & machine learning algorithms to capture the ever increasing demand in a more standardized way.
Increasing Focus on SaaS Adoption: The corona virus pandemic has unleashed a ton of disruption for businesses at large, but small-medium businesses (SMBs) in particular have been impacted heavily. For one, these businesses are dependent on consistent revenue for survival and for sustaining employees. Now many who have not used technology or digital SaaS tools in their business have had to foray into online platforms for selling and procuring products and services. According to industry experts, more than 15-20 Mn offline MSMBs are expected to go online in the coming months to sustain their business and find a way to earn more revenue through various online distribution channels for both B2B and B2C products.
Analysts at Ken Research in their latest publication “India Online B2B Industry Outlook to 2025- Driven by Intuitive Vendor Discovery & Increasing Digitalization in Retail Sector of India“ observed that the fast-growing Indian online B2B platform industry needs to focus on key areas such as Logistic Infrastructure, Market Forces of Demand & Supply, Quality Checking Procedures, SaaS Support & Consumer relations along with innovative ways to enable vendor discovery to enable growth of the B2B retail sector in a more structural & organized way. The India online B2B platform market is expected to grow at a CAGR of ~20.0% during the period FY’2019-FY’2025.
Key Segments Covered:-
By Final Consumption Expenditure in India
Retail Spending on Goods
Other Expenditure (Travel, Real Estate, Auto & More)
By Retail Industry
By B2B Retail Industry Entities
Un-Organized B2B Stores
Brand/Distributor Led Stores
Cash & Carry Stores
By Online B2B Retail Industry Segments
FMCG & Grocery
Consumer Durables & Electronics
Beauty & Personal Care
Fashion & Accessories
By Online B2B Platform
Region of Demand (Tier-1, Tier-2 and Tier-3 Cities)
Nature of Platforms (Listing Platforms and Marketplace Platforms)
Key Target Audience:-
Online B2B Platforms
Private Equity and Venture Capitalist Firms
Time Period Captured in the Report:-
Historical Period: FY’2014-FY’2019
Forecast Period: FY’2019-FY’2025
Online B2B Platform Competitive Ecosystem
Power 2 SME
Other Players include Tradeford, Wydr, Amazon Business etc.
For More Information on the research report, refer to below link:-
UK Online Retail Market Outlook To 2025 – By Product Categories (Apparel And Footwear, Food And Drink, Media Products, Consumer Electronics And Others), By Desktop And Mobile Mode, By Gender (Male And Female) And By Mode Of Payment (Debit+Credit Card, Net Banking And Cash On Delivery)
Taiwan E-Commerce Market Outlook To 2023 – Online Retail (By Product Categories, By Desktop And Mobile, By Gender); Online Travel (By Intermediary And Direct Online Sale And By Desktop And Mobile); Online Payment Gateway Market
Ankur Gupta, Head Marketing & Communications