India reported to be representing a trillion-dollar digital opportunity around the Internet
By MYBRANDBOOK
According to a report by Bessemer Venture Partners, with the continuous growth of the Internet, and the shift of consumer behaviour and shopping patterns to online, India represents a trillion-dollar digital opportunity that will lead consumption in this coming decade.
The number of users is reported to increase from 125 million to 500 million, and the average digital spend per person will increase from $750 to $2,000. At present, about 125 million Indians, or less than 20% of the Internet population, transact online.
The country witnessed a rapid rise in e-commerce businesses, online payments through the unified payments infrastructure (UPI), and the maturation of supply chain and logistics technologies. With online payments and logistics evolving, led by the proliferation of technologies such as UPI, eWayBill and GST, marketplaces moved to a transactional model.
The report said there were five tenets of internet marketplaces in the country: India is a supply-constrained market: build technology to onboard, standardize, manage, scale, and retain supply; The full stack model achieves end-to-end ownership across the ecosystem, resulting in a superior customer experience at a lower cost, increased retention, and higher gross margins.
Owning distribution creates a moat: leverage mobile, social, video, and content to build sustainable moats before ramping up third-party distribution; When performing marketing, the customer acquisition cost (CAC) always rises: best companies also find repeatable growth through a mix of social, UGC, video TV, and offline channels; Flatline cohorts unlock long-term value: a 1 percent increase in flatline cohort retention leads to a 3X jump in long-term value.
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