new delhi india has the fastest growing online retail market among top global economiesthe countrys online retail market witnessed a compound annual growth rate cagr of 53 for the period 2013 to 2017 according to a latest report by consultancy firm bain companythe rapid growth albeit over a small base has been driven by aggressive discountdriven ecommerce marketplaces advances in delivery infrastructure and increased smartphone penetration and data usagethese conditions are giving rise to large retail ecosystems what were seeing is the emergence of scale open retail ecosystem platforms across the asia pacific region that offer retailers a compelling alternative to building and scaling their own capabilities said melanie sanders partner at bain company advt retail ecosystems comprise communities of consumers retailers and partners that rapidly reshape the retail landscape they deliver a very sticky consumer proposition by combining services like ecommerce chat streaming gaming or payments in a single platform or app which shoppers are adopting globally the report saidwhile alibaba and tencent lead the bestknown asian ecosystems india too is witnessing the emergence of retail ecosystems led by reliance flipkartwalmart amazonfuture group and alibabaindias total ecommerce retail sales in 2017 were pegged at around 20 billion and studies have indicated that another 50 billion of online ecommerce could be unlocked by adding new users and luring back internet users that do not currently shop online due to various reasonsdespite the rapid growth online retail penetration in india is low at 5 compared with markets such as china 20 and the us 12 india was ranked eighth in terms of online retail penetration among 11 countriesconsumer electronics segment in india has the highest online penetration 17 which is ecommerce sales as percentage of total retail sales followed by apparel and footwear 9 and beauty and personal care 1 food grocery with overall retail sales of around 530 billion in 2017 has one of the lowest online penetrations at 01 tnn published on nov 29 2018 at 0818 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etretail app get realtime updates save your favourite articles scan to download app ecommerce in india future group amazon ecommerce markets bain company cagr flipkart walmart ecommerce homenewsindia is fastest growing ecommerce market report