India is fastest growing eCommerce market in Asia-Pacific, says Gartner. Solveda sees increased engagements.Posted: October 21, 2014
By Vivek Chandrasekharan, ecommerce Strategy & Business Head, Solveda Software
At the recently concluded Gartner Symposium/ITxpo , the research firm said that the India eCommerce market is slated to reach $6 billion in revenues in 2015 representing an increase of 70% over the 2014 figures. This makes the country the fastest growing eCommerce market in the Asia-Pacific region. Even more interestingly, India is still at a very early stage in electronic commerce adoption with barely 10% of its large population making purchases online. This presents tremendous opportunities for e-Retail focused entrepreneurs in the country. Recently, two of the the country’s leading eCommerce players Flipkart and Amazon India announced billion of dollars in new investment to further expand their business in the country.
Image & Data Courtesy: IAMAI , Avendus
At specialist eCommerce developers like Solveda Software, we have also seen an increase in the number of engagements we are doing with large brick and mortar retailers as well as web-only retailers in the country. Our business in the Asia-Pacific regions now rivals the US operations in volume and value. The whole region is abuzz with activity around all things digital . In Singapore , Yamaha Music just selected us to build their revamped eCommerce site . We recently released Religare Online, the online store for Religare Wellness group . Mahindra group, India’s leading conglomerate with retail, lifestyle and automotive interests recently engaged us to work with Mahindra Retail. There are at least a dozen other retailers we are actively engaged with in conversations in India.
Vivek Chandrasekharan is the Head of eCommerce Business Strategy & Development at Solveda Software, a Long Island , New York headquartered specialist eCommerce developer. Solveda (formerly called Salmon Software)has executed dozens of complex eBusiness projects for clients like Sleepys , Deutsche bank, BNP Paribas, Halfords, Boots, Carrefour, mJunction/TATA group, Yamaha etc