According to a recent report provided by Annie, a Chinese data providing app, India is one of the key markets of focus for China’s major multinational e-commerce brands, because of the country’s growing economy.
As per the report, five of the 10 (out of which four are apparel based e-retailers) top performing global e-market Chinese apps of the year so far, such as Club Factory, SHEIN, ROMWE and JollyChic, are focussing on the Middle East and Indian markets.
Reportedly, the Indian market enjoys a mass customer base and high expectations for economic enhancement, which is why it has managed to attract many e-commerce players to expand their presence, a Chinese agency said.
Notably, citing the potential in India’s e-commerce marketplace, the US-based physical retail giant Walmart recently signed a record-breaking deal with a huge investment of US $ 16 billion in the home-grown leading e-retailer in the country, Flipkart.
The report also highlighted the fact that local consumers in Arab Countries have higher purchasing power and since these countries don’t have much textile sector of their own, it paves way for global e-retailers to set up their business in these places.
Furthermore, the report also revealed that South American markets offer rising growth expectations while developed markets in Europe and the United States are still in awe of China’s e-retail brands which offer products worldwide.
