Online and one-stop' is the main trend in Indian Consumer Goods Market

Recently, there are suggestions in the industry that we should actively open the growing Indian consumer goods market. In a one-stop place, it helps to successfully open the market by providing convenient facilities, shopping and other ways to enjoy life. Jung hyeongyeong, President of intro enterprises, said in a recent contribution to KOTRA that "on the basis of huge territory and population, the annual growth rate of India's consumer goods market is more than 6%, and the growth rate in all fields is more than 10%. According to the ibef industry report, the scale of India's online market is expected to exceed 60 trillion won (about 358 billion yuan) by 2020. The rapid development of urbanization and the emergence of purchasing power consumers, coupled with the ideal age distribution of the population (30-40% of the total population under the age of 29) are the basis for market growth. In particular, the fast-growing online market is driving the growth of consumer goods market. With the increase of family income and the popularity of payment systems such as credit card, the online trading market is growing at an average annual growth rate of more than 30%. The retail market is in its infancy. The online and systematic retail market only accounts for 10% of the market, and the rest are all traded in the traditional market in cash. However, in order to eliminate corruption and reduce cash transactions, electronic payments, including credit cards, have been growing since the monetary reform began in 2016. In India, which is known as the holy land of financial technology, digital payment platforms such as phonepe, led by paytm, are growing at an average annual rate of 100%, which is in line with the government's policy of reducing cash use and making transactions transparent. TV shopping can only be sold in a specific period of time, and has the conditions to ensure sales and inventory. It is stressful for new enterprises to enter the uncertain market, so the importance of TV shopping is reduced. If it is a single brand, 100% foreigners are allowed to invest, and the relevant policies of online market are developing to allow foreigners to hold 51% shares. It is relatively easy to enter the market with an international sales system in the Indian market where cultural differences are increasing. Jung hyeongyeong, President of introgo enterprises, said: "we should actively open up the growing consumer goods market in India. We suggest that enterprises that want to open up the market in India on a large scale, through a one-stop way, that is, gather all kinds of high-end brands in one place, and provide shopping, convenience facilities and food and other ways to enjoy life, which will contribute to success. Open the market. "