Google (India): Shopping in the UK and US is less lucrative than it was in 2010, and it could get even less lucrative in 2018, according an analyst report from Baidub.
In the UK, online retailers have seen their sales drop by a staggering $9 billion (10.8 billion rupees) in the past five years.
BaidU said online sales in the US have dropped by 70% in the same period.
BNCC, a research firm, said the UK had lost 1.2 billion dollars (1.3 billion rupee) in value in the last three years.
“Online shopping is becoming more of a big part of the economy in India,” said Anshul Gupta, senior analyst at BNAC.
“There is a real opportunity to capture a greater share of the market.
It’s very important for online retailers to realise that they can make money online.”
Amazon is not the only big online seller in the Indian market.
Zara has a strong presence in the country with its online fashion retail chain.
Other big names in the market include Alkahest, which also has its online stores in India.
“Alkahest has more than 3 million stores worldwide.
We think that Alkaest will be very strong in the India market,” said Gupta.
Alkaesthesia has a large presence in India and also has online stores across the country.
“We are seeing that Alvahest will be strong in India for the foreseeable future,” said Vijay N. Nandy, an analyst at research firm IHS Markit.
Alma Fashion, which is owned by the fashion retailer Alma International, has a presence in a handful of states.
“They have a good presence in many states,” said Rajesh Raghavan, senior vice president of business development at Alma.
“India is a growing market, so they will be a strong competitor for Alma in the future.”
India’s online shopping market has been growing in recent years, as online retailers like Amazon and Flipkart have been aggressively pushing for shoppers to buy from their websites and not from stores.
Amazon said it would be investing $100 million (74 million rupees), or 3.7%, in the company’s Indian unit in 2018.
Flipkarn, a leading online shopping platform in India, has invested $10 million in a unit to develop the Indian online shopping app.
Alibaba has invested more than $3 billion in the online shopping startup in the previous five years, and now has more stores in several Indian states than Amazon and Google.
Bajajal, which offers online shopping in India as well as online retail in the United States, said it had seen an 18% drop in sales in India since 2016.
“It’s been a tough year for online retailing in India but the biggest growth area is online retail,” said Ramesh Shinde, head of product and strategic partnerships at Bajajial.
“Our focus has been to make sure we are on top of things and not fall behind,” Shindo added.
Baja, the online fashion retailer that is also part of Alibaba Group, said in a statement that the growth of its online shopping has been driven by customers moving to mobile devices.
Alibaba is planning to invest more than 10% of its annual sales growth in India by 2020.
B-Trees, an online clothing retailer, is also planning to focus on the growing online shopping segment.
The company has launched more than 70 stores in the region, and is now expanding into India.