Andhra Pradesh

Country’s e-commerce likely to reach US$ 99 billion by 2024, says expert

The e-commerce segment of the country likely to reach US $99 billion by 2024, with grocery, fashion and apparel likely to be the key drivers of incremental growth, said Dutch multinational company Spar International Chief Operating Officer K. Devendra here on Saturday.

He was addressing a webinar organised by GITAM Deemed to be University, Institute of Management.

Mr. Devendra said that the Indian online grocery market is estimated to reach US$18.2 billion in 2024 from US $1.9 billion in 2019, expanding at a Compounded Annual Growth Rate (CAGR) of 57%.

India’s e-commerce orders volume increased by 36% in the last quarter of 2020, with the personal care, beauty and wellness segment being the largest beneficiary, he added.

Mr. Devendra said that in India 91% retail markets are still in unorganised sector and only 9% is in organised sector.

He said that 8% of Indian work force is employed in retail industry.

Mr. Devendra said that career opportunities will open up in various functions of retail like buying and merchandising, in-store sales, marketing, operations, supply chain, finance, human resources and information technology.


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Printable version | Jul 31, 2021 10:23:04 PM | https://www.thehindu.com/news/national/andhra-pradesh/countrys-e-commerce-likely-to-reach-us-99-billion-by-2024-says-expert/article34858807.ece

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