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With its financial arm doing wonders and plans to encapsulate 500 users by 2020, paytm is bringing in all forces of nature to ride the wave of digital India. Recently Softbank has been eyeing Flipkart to lead its vision of funding the most valuable ecommerce in Asia, however this seems to be just a dream as Softbank is being alluded to be exiting Flipkart soon.
To compete against some of the leading ecommerce behemoths like Amazon and Flipkart, Paytm Mall has confirmed to spend $2.5 Bn. Speaking on the development with ET, Founder Vijay Shekhar Sharma said that “Paytm plans to invest up to $2.5 Bn to grow its nascent online shopping portal business within three to five years. He further added “Paytm’s ecommerce unit Paytm Mall has a “real good shot” at reaching the top spot even though online shopping business, as such, is a long-term bet and certainly “not for the faint hearted”.
Conquering India means taking leap globally
India is the fastest growing Ecommerce Markets across the Globe. According to Forrester Research, one fifth of total retail sales (approx.) will take place online by or before 2021 in Asia Pacific. The major pie of 78 percent of that will be coming from mobile (against 63 percent in 2016). The study further adds that online retail via mobile will grow at CAGR of 15.6 percent, to reach $1 trillion in 2020 nearly double from $539 billion in 2016. The report also concluded that China may remain the largest market for e-commerce globally, followed by the US; but it is India that is the fastest-growing e-commerce market.
THE THREE SIDED ECOMMERCE WAR IS ABOUT TO BEGUN – AMAZON VS ALIBABA VS FLIPKART
Flipkart vs Amazon vs Alibaba (Paytm) is going to get into a war to hold supremacy than the other two. Eventually money shall not be a problem for all of the listed warriors and some greater and newer dynamics will be brought, to further disrupt the ecommerce in India. B2C in India shall only be witnessing surge with the onboarding of next 350 million consumers in India through Mobile Broadband penetration through the Jio drive to digitalise India. On the other hand, the B2B segment still contains opportunities for these big giants to venture.