Time is changing so is the role of the online retail in India. There are almost 120 million internet users in India and looking at the 2020 vision it could reach to 1 billion if it continues to grow at this rate. Speaking on the future of online retail at the third edition of India’s premier online retail event Internet Retail Expo (IRE) 2012, Mahesh Murthy, Managing Partner, Seedfund said, “ India is a large market and it will grow with time. Digital retail in India will depend on the couple of things like language and trust. Retailers will have to deal with the key areas of online retail.”
Talking about his investment strategy and the lesson learnt from past, “India’s online boom started in 90s then in 2002 debacle happened and 2005 we did second round of investing. The lesson we learnt are never depend on second round. We try to make the business operational where we invest,” added Murthy.
Moving on to the evolution and challenging prospects of the etail, Ambareesh Murty, CEO, Pepperfry.com said, “Evolution will be defined by growth of communication between mobile and internet in coming years. Logistics and payments are two big issues and it is going to play bigger role in shaping the online retail in India in coming years.”
That is not all about the Indian online retail as it has taken jump from time to time to forge into new segment. “The digital infrastructure is growing faster than physical infrastructure. There is a Leap frog culture in India and it has been carried out in retail business,” quipped Jaspreet Bindra, Regional Director, Microsoft. Pointing out the different challenges to the future of online retail power panel members unanimously agreed on the point. It seems organised retail will be e-tail in coming times in India.