India’s B2B e-commerce market, led by players such as Udaan and Jiomart, will reach a Gross Merchandise Value (GMV) of $90-100 billion by 2030. This information has been given in a report on Wednesday.
According to a report by Redseer Strategy Consultants, it is further estimated that the B2B general business opportunity in India will reach $1.2 trillion by 2030, with EB2B emerging as a promising digital procurement solution.
India Holds the Largest Share in General Trade, At 84 Per Cent, Compared to Developed Countries Including the US and UK
It is the unorganized general trade channel that drives India’s retail market and will continue to double in size from $0.7 trillion to $1.4 trillion in the same time-frame.
Mrigank Gutgutia, Partner, RedSeer said, “While manufacturers have limited competitive threat, the EB2B channel is helping retailers and brands solve multiple problems in their day-to-day business.”
He added that India’s EB2B market has the potential for multiple models, but with wide range coverage and national coverage, the multi-category game has the potential to win.
EB2B platforms have been able to effectively resolve some of the pressure points such as high prices, no credit options, untimely deliveries, and low quality of products, among others.
The report said that EB2B has already captured a good share of wallets in the offline market and retailers are confident of increasing their spending soon.
The Report Further States That Around 50 Per Cent of Non-Users Are Willing to Shift to EB2B Platform in the Coming Year
“The future will see a shift from unorganized to organized digital business rallying for emerging brands in India, making EB2B a de facto channel for brand marketing and advertising spend,” the report said.