With the passing time, the business model in the retail segment is getting more complex. Online business is already popular among masses. However, even now a majority of the population still purchases from the physical stores. Evolution has dominantly happened on the back of technological innovation. The present case of how Walmart and Amazon are transforming is on the same line as well.
Gone are the days when the retail outlets got overcrowded before the Diwali season or the Black Friday sale. People are now more adept to online purchasing. The total internet economy is constantly on the rise. It’s estimated that it will reach around $215-265 billion (7.5% of GDP) by 2020 from the current figure of $100-130 billion (around 5% of GDP). This means that by 2020, there share of the pie in online purchasing will increase as well. Continue reading “Online E-commerce to transform into brick-and-mortar outlets”