GJ Town India

Online gold market India   India has embraced online retailing across different categories. Digital and social activity plays an increasingly important part in the purchase journey for gold. In urban India, consumers browse online/mobile apps before making purchases; they use online blogs and social media for ideas and inspiration. And mobile wallets/apps have played a key role in the growth of Internet Investment Gold (IIG) in India.   The Covid-19 pandemic has disrupted the brick and mortar business model of Indian gold retailers and has become a catalyst for online channels to boost sales. In this report focuses on, 1: the growth of IIG, 2: the barriers to online gold purchase and opportunities to grow the online market & 3: how retailers are adopting a digital strategy post Covid-19.   In the context of the report Somasundaram PR, Managing Director, India, World Gold Council (WGC) said, “Online retail adoption accelerated during Covid-19 across categories. T...

It grew 17% to a volume of USD 38.5bn in 2018-19 As per the Economic Survey 2017-18, the electronic commerce (e-commerce) market in India is estimated at USD 33 billion, with a 19.1 percent growth rate in 2016-17. As per the National Association of Software and Services Companies (NASSCOM) Strategic Review 2018, in the Information Technology and Business Process Management (IT-BPM) sector in India, the Indian e-commerce market was USD 33 billion in 2017-18 and reached USD 38.5 billion, growing at a rate of about 17% in the financial year 2018-19.   As per extant Foreign Direct Investment (FDI) policy, FDI up to 100% is permitted under automatic route in companies engaged in e-commerce provided that such company engaged only in Business to Business (B2B) e-commerce. Further, 100% FDI under automatic route is permitted in marketplace model of e-commerce but FDI is not permitted in inventory based model of e-commerce. Moreover, an entity is permitted to undertake r...