Share of e-commerce is set to rise from 2% to 12% in next 10 years: CEO, Walmart India

New Delhi, Feb 6 (KNN) Share of e-commerce is set to rise from 2% to 12% in the next 10 years despite the growth in brick and mortar retail, said Krish Iyer, President and CEO Walmart India.

He was speaking at the India Food Forum 2019 held in Mumbai.

Iyer said that the gap between physical and digital needs to be bridged as the consumer was going digital in terms of experience.

Executive Director of Nielsen, a market research firm, Ajay Macaden said that increased smartphone penetration had led to consumers opting for omni-channel platformsin newer categories.

He further added that while markets around the world see categories such as travel, entertainment and durable goods as the most popular for consumers to enter the online retail sphere, consumers are also looking for e-commerce options for an increasing range of categories, as their more immediate needs for convenience and ease expands.