Amazon, Walmart Fight for Market Share Amid Economic Slowdown in India
As India’s economy slows to a six-year low, Walmart-owned Flipkart and Amazon India are battling for market share. But even the festive season, leveraged to the hilt by both companies, failed to yield the stellar results of even just a year ago. Regulatory changes by the government are also causing their share of pain for the U.S. retailers.
But according to analyst Satish Meena, the opportunity is still there.
“Overall 2019 has been a slow year for e-commerce,” he told TechCrunch in an interview. “Two things are clear, though. One is that there remains a big opportunity for e-commerce in India. Second, consumers from smaller cities and towns are increasing their online spending.”