Wednesday, 7 December 2016

Alibaba cannot enter India with a magic wand

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In order to distinguish itself from rivals Flipkart and Amazon, Gurgaon-based e-commerce firm Shopclues plans to expand its base to 400 million customers with an annual household income of Rs 4-10 lakh, in the next five years. The company claims to have reached about 12 million of the 400 million users as of now, who reside in tier II and III towns, besides metros. “There are about 150 million people who make Rs 10 lakh or more in annual household income in India. 

However, our vision is to reach to 400 million consumers, that we call Bharat who make between Rs 4 lakh to Rs 10 lakh annually," said Sanjay Sethi, co-founder and chief executive officer, Shopclues in an interaction."That population is less than 400 million right now. But I am also taking into account the GDP (gross domestic product) growth. An economic flywheel will pump more people in this segment," he added.

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