India among top five consumer markets in Asia: BMI Research

"Due to limitations on the activity that overseas retailers are allowed to undertake, e-commerce has so far been dominated by local firms such as Flipkart and Snapdeal."

By: PTI | New Delhi | Published:June 7, 2017 2:48 pm
CBSE, CBSE schools, school education, ncert, ncert books, school books, school uniforms, school book store, cbse book store, delhi schools, delhi education, ncert textbooks, school business, school commercial activity, education news, cbse news, indian express The report further said India has a thriving e-commerce segment, with online retail sales expected to continue growing at double-digit rates over our forecast period.

India is among the top five consumer markets in Asia offering retailers consumer spending growth of an average of 6.1 per cent over the next five years, says a report. According to BMI Research, a Fitch group company, China, Sri Lanka, Vietnam, India and Indonesia represent five favourite consumer markets in Asia, offering retailers the strongest consumer spending growth over its forecast period to 2021.

“Consumer spending in India will maintain strong levels of growth through to 2021, as the country’s positive economic outlook continues,” BMI Research said adding real consumer spending growth is expected to see an average of 6.1 per cent over this five-year period, with 2017 coming in at 6.2 per cent.

Some of the key factors responsible for increase in consumer spending include, increasing access to consumer credit, lower inflation, and a more favourable regulatory environment for foreign-owned retailers bodes well for India’s consumer sectors over the coming years.

The report further said India has a thriving e-commerce segment, with online retail sales expected to continue growing at double-digit rates over our forecast period.

“Due to limitations on the activity that overseas retailers are allowed to undertake, e-commerce has so far been dominated by local firms such as Flipkart and Snapdeal.”

“However, Amazon is making a real push into the market and recently announced USD 500 mn investment to roll-out online food retailing in India. Bricks-and-mortar retailers are also beginning to enter the e/m-commerce segment, due to the high mobile penetration in the country,” it added.

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  1. S
    Sankaran Krishnan
    Jun 7, 2017 at 4:23 pm
    Yes e-commerce is making the youngsters life so easy and they are now doing the shopping through the mobiles and the retailers like Flipkart and Amazon re taking back the products that are not suits them (dress sizes) but though they are taking back the other B ed products within a time frame, what I found difficult is unable to locate the local contact phones or addresses in case of any details required whereas they ship the products locally and even if you call on them they are not giving proper answers and if e-commerce address this issue more and more people will opt for this facility instead of going to the shopping through retailers !!!
    Reply