Presently customers are shifting from the “survival mode'' to adjusting to the new reality of the post-Covid-19 world. They are buying affordable goods and moving away from more expensive brands.
Though the transaction volumes on e-commerce platforms such as Amazon, Flipkart and Snapdeal have returned to the level of pre-Covid time, high-value transactions are expected to take place by next year.
Right now these players are burning a lot of cash to retain customers who are spending money mainly on low-value transactions as their purchasing power has been impacted by Covid-19, according to the analysts and industry insiders.
However, they said the pandemic is expected to help uplift India's e-commerce market almost threefold to around $85 billion by 2024, despite other sectors being impacted severely. Other e-commerce players which
First Published: Jun 24 2020 | 10:56 PM IST