The e commerce space is undergoing a renaissance.
There are more than 1,400 retail portals on the platform, and the number of ecommerce sites in India is projected to double by 2022.
This, coupled with an increase in ecommerce traffic, is expected to drive the market.
However, ecommerce will only continue to gain popularity if the ecommerce ecosystem is able to harness the power of mobile, a new trend that has been gaining momentum recently.
The e commerce trend has been growing since its inception, but the market share of mobile commerce in India has been stagnant.
The ecommerce industry is dominated by e-commerce companies that are currently operating from an office in a corporate environment.
However the e-tailer space is poised to overtake them in terms of revenue by 2022, thanks to the rapid growth of mobile users.
“We will see a massive increase in mobile users by 2022,” said Amit Srivastava, CEO of e-Commerce company Paytm.
“The mobile app is the future and this is going to drive growth of eCommerce sites in the country.”
Mobile commerce is the fastest growing category of commerce in the world.
According to the United Nations World Food Program, India has become the world’s fourth largest consumer of food products by 2017.
In 2018, India had the third highest number of mobile-only ecommerce stores, followed by Singapore and Australia.
The top two e-sales destinations are the US and Japan.
Paytm has seen growth of over 20 per cent in the past two years and is expected continue to grow.
The company is currently valued at $3 billion, with the company’s revenues exceeding $1 billion in 2020.
The growth is driven by the growth of its mobile commerce business.
Payment processing is the third-largest business on the Paytm platform, according to the company.
It accounted for almost 30 per cent of Paytm’s total revenue in 2018.
In 2017, it had over 40,000 employees and accounted for about 55 per cent, or $2 billion.
“Our growth is due to the growth in our ecommerce and mobile business,” Srivasta said.
Paytima is the biggest e-shopping portal in India.
The platform has nearly 50 million active users and offers a range of goods from grocery items to clothes, home decor and toys.
“We are seeing a big growth in e-shop traffic, and it is our focus to make Paytm the leading e-store of the Indian market,” Sivastava said.
“This has been our mission from day one and we are committed to make the e commerce ecosystem more efficient and reliable.”