B2B E-commerce Sales by 2020 In India
2015-11-25 Posted By:Infrabazaar Views : 221
According to the Ecumen, the Business to Business (B2B) segment of e-commerce industry is set to grow by 2.5 times to touch Rs 45 lakh crore by 2020, An Ahmedabad based e-commerce consultant firm Ecumen says that by the end of the 2015, the B2B e-commerce industry in India is expected to reach about Rs 19.13 lakh crore.
The Global trend will be similar lines with B2B set to take its own bigger leaps as compared to the B2C is concerned. The global B2B e-commerce market is estimated to reach $1.7 trillion by 2015, as it’s twice as big as B2C market.
The E-commerce Strategies, Chirag Dagli says, the global B2B market is expected to reach $6.7 trillion by 2020, almost four times bigger than present size Countries like China, Japan and USA have the largest share of B2B market while it’s comparing to B2C.
However it also identified certain hurdles in the B2B e-commerce market such as execution of technology, logistics and taxation, among others.
The B2B Technology implementation is difficult, and reaching to target profession requires approached e-marketing and various marketing. B2B e-commerce in India has to develop strong business and logistical connections with exporters and business to ensure smooth product delivery. Through away taxation is also a big problem where in SME’S are restricting their online presence due to the thinner margins online
In terms of future potential, the report stated that among the B2B e-commerce, public market place could appear as the lead segment.
The report has observed, If 100% FDI capital is allowed in B2B e-commerce market, it would promote innovation like ERP integration (buyer and supplier), single window buying and service and solution alignment as per the business needs. Also, implementation of GST in 2016 would make India one market and that could help B2B e-commerce grow.