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Developed potential marketing strategy for Amazon upon tentative lifting of FDI restrictions in the Indian marketplace. ...

Developed potential marketing strategy for Amazon upon tentative lifting of FDI restrictions in the Indian marketplace.

Glocalization of the primary outreach and service delivery for the emerging market having differing infrastructure, customer demographics and tastes than the established US market.

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Amazon india imminent debut in retail e-commerce online Document Transcript

  • 1. THUNDERBIRD SCHOOL OF GLOBAL MANAGEMENT Amazon India Imminent Debut in Retail e-Commerce Dayvisson Dasilva, Erik Luthy, Huiling Liu, Ranjit Bhalerao 7/3/2013 EXECUTIVE SUMMARY Amazon is poised to enter the multi-brand online retail market in India upon regulatory approval for foreign direct investment. While Amazon’s core competencies include serving customer preferences, fulfilling orders, and maintaining low costs, its India debut will require a deviation from its tried and true methodology. As India is an emerging market, lower Internet connectivity means Amazon will have to consider expanding the number of channels to reach customers. We recommend mobile phone based ordering, direct selling through channel partners, and new payment options. India’s consumer segmentation and preferences are changing along with their economic development. To compete effectively against the market incumbent Flipkart, Amazon should not only leverage its strengths (greater bargaining power with suppliers, industry best practices, and superior operating platform) but also differentiate Amazon’s brand by emphasizing the customer experience and enhanced benefits suggested in our implementation plan.
  • 2. CONTENTS Macro-Economic Environment.......................................................................................................................................... 2 Amazon’s Current Marketing Approach ........................................................................................................................ 3 Competitive Environment.................................................................................................................................................... 4 Consumers.................................................................................................................................................................................. 5 Recommended Implementation Plan.............................................................................................................................. 6 Product.................................................................................................................................................................................... 6 Addressing technology access issues .................................................................................................................... 6 Small seller integration through co-operatives................................................................................................. 7 Customizing the Product Offering........................................................................................................................... 8 Promotion.............................................................................................................................................................................. 8 Place......................................................................................................................................................................................... 9 Delivery/Order Fulfillment Processes - Service Delivery...........................................................................10 Trusted Direct Sales/ Delivery with a Social Responsibility Cause........................................................11 Price........................................................................................................................................................................................12 Financial & Non- Financial Results.................................................................................................................................12 Bibliography ............................................................................................................................................................................14 Exhibits......................................................................................................................................................................................15
  • 3. MACRO-ECONOMIC ENVIRONMENT Amazon’s future business strategy in India will depend largely on its educated and diverse labor force. Even though economic progress is found across the emerging country, poverty is still one of the major socio economic issues. A few key indicators help to analyze advantages and disadvantages for future business investments. The country’s GDP in 2012 was $4.784 trillion. The labor force of 498.4 million was concentrated in three major sectors of the economy (agriculture 53%, industry 19% and services 28%). The unemployment rate reached 9.9% of the entire population in 2012 with a 29.8% of the population below poverty line, amounting to over ¼ of the country. In contrast, 80% of India’s wealth is held by a 30% minority of the population1. Indian retail industry has recently spent approximately $300B to upgrade its infrastructure and create a more modern, yet locally influenced environment. Investment opportunities for mass merchants and food retailers have drastically increased. Global companies are leveraging India’s proven skills in product design, configuration and customization to change the industry.2 India currently faces diverse challenges of poor infrastructure. The power grids, roads network, and Internet access are behind the developed world due to poor equipment and a history of poor state infrastructure management. These issues directly limits the transportation of goods, keeps rural population deprived of the benefits of the recent economic developments, and creates an unmanageable migration from the interiors to the already congested cities. 3 An estimated one trillion US dollars are going to be invested in India for infrastructure over the next five years. However, high interest rates and inflation create very high debt for the infrastructure development companies, leading to the failure of many major projects over time.4 The railroad system is mostly state owned. Currently, only 49% of roads are paved and only 16% of roads have four lanes or more. The country has thirteen major ports that are government owned 1 The CIA World Factbook 2013 2 India Country Guide - Industry and Employment Trends 2011 3 KPMG India 2012 reports, World Bank Report 4 The Economist, Bloomberg
  • 4. with a 60% of water traffic handled by the Mumbai port alone. Outdated air traffic control technology at airports increases total travel time.5 Customs clearance at port of entry is a big hurdle due to corruption and innate inefficiencies. As a result of the improving economic conditions, prices and inflation both have gone up.6 Annual consumer price inflation peaked to 10.3% in August 2012 owing to the higher prices of fuel and manufacturing.7 AMAZON’S CURRENT MARKETING APPROACH In India, Amazon is offering an online cataloging service through Junglee.com for retail purchases that facilitate transactions fulfilled by third party suppliers, including Amazon US. Junlgee.com offers a broad array of categories from electronics, personal items, household goods, and media. The overall platform is quite similar to what is offered in the US, however due to the FDI constraints, Amazon is unable to sell their own inventory directly from within India. Hence, to this date, they do not have to overcome on their own the unique logistical and infrastructural issues. For promotion, Amazon relies heavily 8 on word of mouth publicity and online ads. Since all purchases are made online, the rationale is to advertise only to those who have the capacity to use the medium. Globally, two thirds of Amazon sales are in the form repeat purchases which indicate that they do have a high number of potential brand champions. However, in India they are not a first entrant into this market. So, relying on the parent company brand recognition may hinder growth of the market share. Indian Facebook users are the third largest in the world--around 61,697,7909. Currently, this population is not necessarily purchasing online or more specifically, from Junglee. 5 Word Association for Waterborne Transport Infrastructure 6 India Country Guide and Impact of Pricing Study in Mumbai City 7 The Economist, 2012 8 Amazon PowerPoint 9 Amazon India pptx - Amazon Competitive Landscape/ Quintly 2013
  • 5. Traditionally, Amazon has relied on a combination of highly efficient order fulfillment centers, seller price competition, proprietary payment processing software, and a highly sophisticated online platform to deliver competitively priced products to their customers. COMPETITIVE ENVIRONMENT Retail e-Commerce (e-tail) in India is a high growth-potential, underdeveloped business with a maximum current market penetration of only 5%10. The scene is dominated by online travel portals having the biggest share of 80%, followed by the sale of electronics, financial services, and clothing- -each having negligible share. The only national level competition Amazon/ Junglee may face is from Flipkart, a company launched in 2007 by two ex-Amazon employees. Flipkart offers a wide range of products from books & stationary, entertainment, electronics, healthcare, grooming, toys, clothes to home appliances, but does not offer non-perishable grocery items. Flipkart offers some unique services for the online shoppers which Amazon does not include in its platform: a 30-day replacement policy, and an array of payment options such as through online gateways connected to the leading banks, cash-on-delivery, and monthly installments. Established retailers such as Reliance, Big Bazaar, etc. lack a multi-channel strategy with focus only on driving brick-n-mortar store expansion and driving foot traffic there. Finally, they are dependent on third party platforms for conducting the typical e-Commerce functions at large scale, namely Web and mobile storefronts, shopping experience (cart/ transactions management, promotions, personalized recommendations, product/ seller feedback, abiding by the tax regulations, customer relationship management, vendor/ supplier management, etc.). Other single- or limited-brands retailers having limited reach are FutureBazaar, Homeshop 18, Bigbasket (previously Fabmart), and IndiaTimes. Google has recently launched brick-n-mortar 10 Praveen Sengar, “E-Commerce in India”, Gartner Hype Cycle for ICT in India, July 31, 2012 (ID:G00233973)
  • 6. Android Nation stores11. This development has a disruptive potential of developing into a hybrid multi-channel model, like order online and pick-up at physical locations. Some hurdles that Amazon India may face will be getting the B2B suppliers to invest in IT from their side for required integration, and driving general awareness for e-Commerce. Lastly, Amazon already has an established R&D center in India that supports its global software needs. This will be a significant competitive advantage for the company over its competition for customizing the e-tailing platform for unique needs of the Indian market. CONSUMERS The Indian consumer market is changing rapidly. With increased urbanization, old buying habits are changing and new consumer segments are emerging. First, the market structure is divided into the following five groups:12 The rich, the consuming class, the climbers, the aspirants, and the destitute. Within each of these groups, the consumers have different preferences and buying habits. The rich focus mostly on luxury goods and premium brands. The consuming class buys utility durables like white goods. The climbers typically possess one major durable. The aspirants possess very basic goods but want to move up. Finally, the destitute have practically no personal possessions. Within these segments are different value orientations. The rich are benefit maximizers, they believe that top brands deliver quality proportionate to price. The consuming class balances the benefit tempered by price. Climbers focus on receiving the best value with their limited available funds. Aspirants typically require specially sized products, like in the form of sachets, in order to be able to participate in the market. The destitute are unable to consume in the traditional markets. 11 Google brings Android Nation stores to India to spice up its retail market (June 20, 2013) 12 Sameer Mathur Ph. D, PowerPoint, Consumer Segments in India, McGill
  • 7. More importantly 77% of Indians below the age of twenty use the Internet, while 73% between the ages of twenty and twenty nine do. Further, 8% of Internet users have made an online purchase in the past month, and 12% intend to shop in the next six months. The number of young college educated has dramatically increased over the recent years. This is notable considering that the IT sector reaching 7.5% of Indian GDP in 2012. The Influx of outsourcing opportunities in India has led to a more educated and technologically savvy workforce that is increasing the consumer base.13 RECOMMENDED IMPLEMENTATION PLAN PRODUCT Amazon India, through its front-end portal Junglee, needs to transition from being a mere cataloging aggregator of products offered by other vendors into a full scale e-tailing platform similar to its original form in the US. Here, we propose localization of the brand Amazon/Junglee for the Indian market in the following innovative, yet, scalable ways that meet the unique challenges and opportunities in the region. ADDRESSING TECHNOLOGY ACCESS ISSUES Text message based product ordering India has one of the fastest growing markets in the mobile industry with recent $24B investment and expected to grow to $60B.14 In 2011 India had about 900 million people subscribed to mobile services, not to mention that the country population was one of the world leader to mobile phones usage, second only to China.15 Regular access to Internet or a computing device may be a challenge for a vast population of potential customers even from the tier-1 cities. This may be due to economic affordability, unfamiliarity, or inadequate infrastructure. However, there are more than 900 million mobile subscribers according to the telecom regulatory authority, TRAI16. A simple SMS 13 business.gov/in 14 Passport GMID - India 15 CIA World Factbook 16 Highlights of Telecom Subscription Data as on May 31, 2012
  • 8. text message based 17 interactive menu provided in conjunction with telecom operators can be harnessed to offer brief listings of popular brand items. This will work with even the simple most mobile phones without fancy operating systems or expensive hardware. A consumer may also place orders directly using previously known product codes that are sent via text messages. Payments can be authorized using the prepaid mobile phone account balance of the subscriber. Alternate mobile payment solutions already exist that do not need Internet access18 or phones with high-end hardware/ software. SMALL SELLER INTEGRATION THROUGH CO-OPERATIVES Various states within India are formed on the basis of the dominant regional language and the associated cultural ethnicity. The unique food and traditions of each region offer multiple product categories. With the higher availability of jobs in various tier-1 and tier-2 cities of the country, the educated middle class population has migrated across the regions. According to India’s Ministry of Statistics, over 300 million Indians (⅓ of the whole population) are internal “migrants”. This fact combined with the FDI regulation that requires sourcing at least 30%19 from local suppliers, can be an opportunity for offering the regional food and craft products online that were previously unavailable in other regions. This ease of availability may develop consumer demand for products from other regions. However, some specialty artisans work on a very small scale and mostly at a family level. To address their inability to fulfill larger volumes of orders, and to avoid from having to deal directly with too many of them, we propose that Amazon should partner with existing multi-state or regional cooperatives, such as Amar Kutir (arts & crafts) 20, Amul (milk products) or Co-optex (handloom weavers). Amazon will augment the cooperative’s existing physical channels with online ones. This will further the social cause that Mahatma Gandhi advocated during India’s 17 Unstructured Supplementary Service Data (USSD) 18 http://www.c-sam.com/mobile-transaction-platform 19 http://ibnlive.in.com/news/fdi-in-retail-30-pc-sourcing-rule-changed/291532-7.html 20 http://en.wikipedia.org/wiki/Amar_Kutir#Revolutionaries_and_Village_Craft
  • 9. independence struggle: think village-bound21 for self-sustained grass root economic empowerment. Amazon will not only support local artisans and meet their local sourcing needs but they may also gain access to unique and culturally vibrant goods they can sell globally. CUSTOMIZING THE PRODUCT OFFERING Some products just don't make sense in India. For example do-it-yourself (DIY) hardware and service items which Amazon offers in the US would not perform well as most Indians hire help to do these sort of activities. Amazon will need to add locally appropriate products. Due to the migration of much of India’s workforce there is an opportunity to provide Indians away from home products which meet their regional preferences. Often, local shop owners are unlikely to offer spices and products from other regions of India. To meet this unsatisfied demand, Amazon can offer regional spices, and non-perishable food products, in addition to regional sourced literature (e-reader), crafts, and clothing. This will help increase Amazon's local appeal. In addition, India also celebrates 39 national holidays, one of the highest number of holidays in the world. Each of these comes with a wide array of holiday specific goods and products. Amazon can capitalize on these holiday requisitions by offering an online holiday portal to make sure the large number of Indian migrants can celebrate their holidays. PROMOTION The major obstacle for Amazon is that Flipkart is already holding the position of reliable, low cost, and trustworthy online retailer. Plus they are an Indian company headquartered in Bangalore. The result is both companies have the same value proposition. Amazon must do more to clearly differentiate them from Flipkart. Amazon’s online marketing has traditionally been very passive, using banner ads, pay per click, and Google search results. Three quarters of India's Internet population uses social media22 which Amazon can use increase their level of engagement with the already enormous online social media population in India. They can tell the story of how they are 21 http://en.wikipedia.org/wiki/Mahatma_Gandhi#Gandhian_economics 22 "Of Tweets and GDP." MintMar 18 2013. ProQuest. Web. 2 July 2013 .
  • 10. helping Indian cooperatives bypass middlemen and bring their products to market. They can show the convenience and reliability of Amazon and how customers can pick shipments up at their local trusted shops, and they can also tell the story of the migrant enjoying his home cuisine and reading an eBook by an author back home thanks to Junglee. By telling this story they can both differentiate themselves from Flipkart and educate the consumer about what Junglee/Amazon is about. Offline, to facilitate phone ordering, and increase understanding of Amazon’s brand offering. Amazon can send small catalogs of high volume products through the Indian postal system which include codes to facilitate orders via mobile phone. This will educate aspiring consumers who may lack Internet but who are still interested in gaining access to low cost products. Since mobile phone access is far ahead of Internet access, this will allow Amazon India to reach customers before they are exposed to the Internet and build brand awareness ahead of the pace of socio economic development. When these customers become Internet users, they will already know what amazon is and its value proposition. PLACE Amazon is famous for its discounted offers, and reliable and efficient delivery. When the company was started in the US, this business model benefited from the existing infrastructure of sourcing and logistics. The company cannot count on the same in the emerging markets. We recommend the company shall employ the best practices it developed while doing business in China—another emerging market in the region. For example, Amazon offers expedited delivery only on the items that are stocked in the warehouse closest to the point of delivery. Otherwise it transparently shares the logistic details with the online consumers to set the expectations right. For the first right impression, it is recommended that Amazon starts offering direct delivery to the consumers residing only in the tier-1 and tier-1 cities 23 that are well-connected by the existing 23 http://www.mapsofindia.com/maps/india/tier-1-and-2-cities.html
  • 11. network of national and state highways, and the major railroads. Upon establishing the reputation, smaller towns can be reached with appropriate delivery commitments. DELIVERY/ORDER FULFILLMENT PROCESSES - SERVICE DELIVERY Poor infrastructure and logistics in India largely increases the cost of goods. Logistics makes up to 14% of total cost of goods. A few reasons for high costs are mainly attributed to three major problems. The congestion costs (higher inventory costs and longer delivery times), transactional costs (insurance and government taxes) and lastly the overall lack of infrastructure result in very high average freight costs in India—currently 7.0 cents/Km.( Canada 2.0 cents/km, Japan 3.7 cents/km and France 5.5 cents km)24. Due to India’s current state of development, certain aspects of Amazons regular delivery process will need to change. Amazon will have access to the major traditional package handling carriers like FedEx, UPS, and Blue Dart in India. However, these carriers primarily service top tier cities. As a result, Amazon needs to figure out how to service potential customers in more remote locations. India’s national state transport system does typically service all areas but there are issues of security, timeliness, and cost which could impede the desirability of Amazon products. In the case of lost shipments, this can harm Amazon’s carefully developed reputation for consistency and timeliness. Due to wide economic disparity, it is impractical to leave packages at a buyer’s doorstep as would frequently be stolen if left out for any considerable time. To overcome these issues, we have come up with a few options for Amazon to adopt to increase the efficacy of their delivery process. Similar to the Amazon Sellers program, we propose creating a program for Amazon Delivery and Order Partners. There are a number of components to this program. First, business owners in more remote locations who already have relationships with the local community could earn additional revenue being a pickup/returns location. This would help Amazon avoid the security issues of leaving packages on the doorstep and reduce the number of 24 Word Association for Waterborne Transport Infrastructure
  • 12. door to door deliveries. Plus customers in more remote locations could receive their orders when they came into town to do their regular shopping. Second, either these same shops/businesses or separate partners could go a step further and generate revenue by going the extra step and delivering orders shipped to the first set of partners to customers. For example a local courier or taxi driver might stop by a shop and go deliver orders during a slow time. These local partners would have to be registered with Amazon as approved partners and would have to have made some form of deposit to prevent theft of goods. Thus Amazon could rely on crowd sourced partners as part of their logistics network in locations where it would be overly costly to develop their own presence or where traditional carriers did not provide service. A third component of the program is including an Amazon order platform which could pay the store owner a commission on sales. This would allow potential customers without Internet to browse an online catalog from their local store and place orders for which they could pay the store owner in a similar arrangement to COD. Of course, Amazon would have to be careful to not compete directly with their partners or they would be unlikely to cooperate. These three components would increase the potential customer base, reduce the logistics costs of accessing remote locations, and increase awareness and community engagement and create jobs which would build support for the Amazon brand. TRUSTED DIRECT SALES/ DELIVERY WITH A SOCIAL RESPONSIBILITY CAUSE Beyond relying on local store partners, catalogs, and the traditional direct online sales channels, we also suggest creating Project Shakti25 like direct sales ambassadors. Similar to the store partners, Amazon could rely on the reputation of these women trusted by the consumers and help the ambassadors earn a respectable livelihood. Amazon could grant these women credit and lend them some technology platform for registering the orders. She then could go around suggesting products to members of her community and selling them at a small markup on top of what Amazon already 25 http://www.hul.co.in/sustainable-living/casestudies/Casecategory/Project-Shakti.aspx
  • 13. charged. She could also let her customers browse the product offering and explain the process to them so that later these customers understand the process and trust the online medium. PRICE Due to the emerging market status of India, a large portion of the population will be very price sensitive. Aspiring customers with lower economic status will benefit from monthly installment plans that allow them to become customers. Further, due to distrust in online retailers, Amazon will also need to adopt a cash-on-delivery (COD) payment option for customers who don’t want to pay for something until they see it. Amazon’s primary competitor Flipkart already offers this option and it is typical in Indian online retail. Incorporating COD into their delivery model means Amazon will have to carefully monitor delivery carriers to ensure no loss of payment occurs. This is easily overcome by requiring carriers to make security deposits to cover COD amounts. In addition, Amazon will need to focus on maintaining cost leadership when transitioning from a cataloger to an order fulfiller and multi brand online retailer. As mentioned above, a number of initiatives will be employed to increase access to as wide a portion of the population as possible. In addition, Amazon will have to source a large portion of their product offering locally to be able to keep prices low, meet the Indian consumer preferences, and comply with the 30% local sourcing requirement imposed upon foreign owned enterprises. Cost reduction and operational streamlining are already a core competency of Amazon. While they will be somewhat constrained by infrastructural barriers, Amazon should have little trouble here and won't need to change their model significantly. FINANCIAL & NON- FINANCIAL RESULTS Currently, Indian e-commerce market revenues are estimated at about $1.6 billion, likely to double to more than $3 billion within three years, and could reach almost tenfold to about $15 billion by 201726. Our strategy promotes offering a vast selection of products, maintaining the lowest price, and high quality service and delivery, so Amazon can achieve the most effective and cost efficient 26 http://www.internetretailer.com/2013/01/11/indias-online-retail-market-could-double-size
  • 14. word of mouth referral by satisfying consumers, and successfully attracts more customers. In the last several years, Amazon already invested significantly in its India operations27 and it will achieve more revenues and profits by attracting more consumers. Furthermore, our strategy chose to use online advertising and global suppliers, so Amazon maintains a low cost on advertising and sourcing. For example, the ads on Facebook will cost much less than the offline advertising, yet, reach the target customers. The costs savings on global suppliers and online advertising will enable Amazon to maintain low price, enhancing competitiveness in the price sensitive market. Non-financial results of our strategy will be an enlarged market share, increased brand awareness and reputation, more employment, and much better relationship with the local government. Furthermore, our strategy concentrates on providing high quality service and using social networks and other online mediums to advertise Amazon, therefore, Amazon may achieve a high brand awareness and good reputation. The increasing trend to share interesting, fun, and cool videos with friends in India is the same as it is in the other parts of the world, and Facebook is the No. 1 popular social network in India. There are 62.7 million Facebook users in India, representing 68% of the country’s online population28. Viral ads and exclusive special offers on Facebook may target the exactly consumer and encourage them to engage with the brand, achieving word of mouth. On the other hand, high quality service will definitely ensure customer satisfaction, and increase loyalty to brand Amazon. Additionally, Amazon may employ more people as India develops. Currently, Amazon has development centers at three locations in India: Hyderabad, Chennai, and Bangalore with about 3,000 employees. 27 Amazon to invest Rs.500 cr in India 28 India’s online retail market could double in size
  • 15. BIBLIOGRAPHY Amazon Corporate, 2013. Hype Cycle for ICT in India, 2012 (Gartner, 31 July 2012 ID:G00233973, Sanish KB | Vishal Tripathi) Bailay, Raul. Google brings Android Nation stores to India to spice up its retail market. New Journal. New Delhi: The Economic Times, June 20, 2013. BAW. Word Association for Waterborne Transport Infrastructure. Anast, Belgium: Bundesnstalt fur Wasserbau, 2012. Boston Consulting Group. "Distribution Channels in India." 2012. Report. Business USA. 2 Juky 2013. Online. 2 July 2013. CIA World Factbook. CIA World Factbook. 2013. 28 June 2013. CSAM. CSAM. 2013. 16 June 2013. <www.c-sam.com/mobile-transaction-platform>. Google. Google Plus. 3 June 2013. Online. 6 June 2013. <plus.google.com/u/0/+avinash/posts/Zggd8R7Qo2d>. IBN Live. ibnlive.in.com/fdi-in-retail-30-pc-sourcing-rule-changed/291532-7.html. 14 September 2012. 25 May 2013. India Country Guide. India Country Guide - Industry and Employment Trends 2011. 15 January 2011. Online Report. 15 June 2013. Maps of India. http://www.mapsofindia.com/maps/india/tier-1-and-2-cities.html. 16 June 2013. Mathur, Sameer Ph. D. "Consumer Segments." Powerpoint. 2013. McKinsey Consultants. "Next big Spenders: India's Middle Class." 2007. Online. Mint. "Of Tweets and GDP." Mar. 18, 2013. Mintel. "E-Commerce India Snapshot." 2012. Report. Passport GMID. "India." 2013. Quintly. Feb 2013. Facebook Country Stats. June 2013. —. Amazon Competitive Landscape/ Quintly 2013. 2013. 20 June 2013. —. "Amzaon Competitive Landscape." 2013. Sengar, Praveen. E-Commerce in India. 31 July 2012. 22 June 2013. —. "Hype for ICT in India." Document. July 31, 2012. The CIA World Factbook. 2013. The Economist. India's Infrastructure: The Blackour Nation. 4 August 2012. 16 June 2013. TRAI. Highlights of Telecom Subscription Data. Press Release. nd: TRAI, May 31, 2012. Wikipedia. en.wikipedia.org/wiki/Mahatma_Gandhi#Gandhian_economics. 2013 June 27 2013. Online Encyclopedia. 27 June 2013. —. Unstructured Supplementary Service Data. 2013. June 2013. Wikpiedia. en.wikipedia.org/wiki/Amar_Kutir#Revolutionaries_and-Village_Craft. 16 June 2013. 19 June 2013. World Bank Report. KPMG India 2012 reports. 2012. Document.
  • 16. EXHIBITS Exhibit 1: E-commerce growth projection for India29 Exhibit 2: Retail market CAGR 29 Hype Cycle for ICT in India, 2012 (Gartner, 31 July 2012 ID:G00233973, Sanish KB | Vishal Tripathi)
  • 17. Exhibit 3: Current Junglee.com and Amazon.in: mere catalog aggregation
  • 18. Exhibit 4: Mckinsey Report Rise of the Middle Class 30 Exhibit 5: Market Segmentation - Middleman 31 30 McKinsey Consultants - India report (picture) 31 BCG: Distribution Channels in India