new Delhi. Walmart-owned Flipkart has announced delivery of groceries within one and a half hours. The company is taking this step in a fast-growing Indian retail market, as opposed to Amazon.com and billionaire businessman Mukesh Ambani's company Geomart. Flipkart vice-president Sandeep Karwa said the company's locally-based quick delivery service, Flipkart Quick, would deliver grocery items as well as fresh vegetables, meat and mobile phones within 90-minutes. The service will initially be available at select locations in Bengaluru and then by the end of the year it will be expanded to six major cities in the country.
India's retail market is currently valued at $ 950 billion and is projected to reach $ 1,300 billion by 2025–26. The e-commerce business is estimated to be $ 78 billion, which is estimated to reach $ 100 billion by 2025. Grocery goods business is the newest category in which e-commerce companies are starting.
Amazon offers quick delivery service for grocery items. The category competes with Alibaba-backed Big Basket and Mukesh Ambani's Geo Mart. Jio Mart is using WhatsApp to connect customers to local grocery stores. In the midst of the corona virus epidemic, online delivery of goods has gained considerable momentum. Competition is expected to intensify with the launch of Geomart.
The offline businesses have suffered a lot due to the lockdown, so such businesses are also serious about joining the digital platform. According to a recent Goldman Sachs report, India's e-commerce business is projected to grow by 27 percent year-on-year to $ 99 billion by 2024. Increased sales of grocery and fashion apparel will contribute to this growth.
This post was published on July 29, 2020 10:34 am
Photo: MICROSOFT Microsoft in talk to invest $ 100 million in sharechat new Delhi. Microsoft can invest about $ 100…
Photo: GOOGLE DoT set to allow contact less verification for mobile customers new Delhi. In the midst of the Corona…