Home Magazines IMAGES RETAIL Images Retail – February 2024

Images Retail – February 2024

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Featuring the Doyens of DigitalCommerce
Google’s latest report projects India’s internet economy to reach a staggering $1 trillion by 2030—a sixfold jump from $175 billion in 2022. The outstanding growth is driven by the growing penetration of e-commerce in small towns and cities of Bharat, where even small businesses are now taking their stores online.

The catalyst driving this growth is Open Network for Digital Commerce (ONDC)—an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India—that seeks to revolutionise digital commerce in India by unbundling and democratising it.

In January 2024, the network recorded 5.7 million purchases in a month, up from1281 monthly transactions in January last year, when it went mainstream.

ONDC will do to e-commerce in the country, what UPI did to digital payments. It’s only a matter of time. “We’re creating sparks right now; the explosion is yet to come… it will come when we get the volume,” said ONDC Managing Director and Chief Executive Officer T Koshy in an exclusive interaction.

Read the cover story of this e-commerce special issue to understand how the digital commerce landscape in the country is about to transform, driven by ONDC, a potential game-changer. The issue features other leading players from the e-retail arena like Tata CLiQ, who are combining technology with innovation to offer differentiated experiences.

Adorning the cover of the Shopping Centre News Section is Jatin Goel, Executive Director, Omaxe Ltd. who is redefining the Chandni Chowk shopping experience with Omaxe Chowk that offers 1.11 million sq. ft. of modern conveniences in the heart of the iconic Purani Dilli highstreet.

In the Phygital section, we have Sandeep Jabbal, Chief Digital Transformation and Chief Information Officer of Shoppers Stop revealing the pioneering modern retail chain’s technology strategies.

The issue, as always, is packed with retail intelligence and insights to help you in your business—a build-up to the upcoming Phygital Retail Convention to be held at Jio World Convention Centre on May 8-9, 2024—that will be the mega confluence of all that matters in retail. Happy Reading!