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India is the fastest growing ecommerce market in the world: Bain & Company reports

India is the fastest growing ecommerce market in the world: Bain & Company reports

India is the fastest growing online retail market in the world's top ecosystems. Recently, according to a report released by Bain & Company, India has achieved an annual growth rate (CAG) of 53% in the online retail market from 2013 to 2017. There is a rebate given by e-commerce companies, better delivery infrastructure behind this growing growth. Simultaneously, smartphone and data usage has also increased.

Bain and Company's partner Melanie Sanders said that these conditions are giving birth to a large retail ecosystem. According to Melanie Sanders, this is the rise of the open retail ecosystem platform in the Asia-Pacific region, giving retailers an option for building and scaling their capabilities.

According to the report, Alibaba and Tensent are Asia's most famous ecosystem, thus, in India, Reliance, Flipkart / WallMart, Amazon / Future Group and Alibaba are also expected to increase the retail eco-system in India. However, despite rapid growth, online retail in India is less than 5% compared to China (20%) and US (12%). According to the report, India is ranked eighth in the online retail business of 11 countries.

In India, the highest demand for online marketing is in the electronics segment, demand is 17%, while the demand for fashion and footwear (9%) and beauty products and personal care (1%).

Q.1 Which companys report states, India is the fastest growing ecommerce market?
A. PricewaterCoopers
B. Bain Capital
C. World Economic Forum
D. Bain & Company
Ans: Bain & Company
Q.2 What is the rank of India in online retail market countries?
A. 11
B. 1
C. 8
D. 6
Ans: 8

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