Amazon Is on Its Way to Dominate This E-Commerce Market
India is the world's fastest-growing e-commerce market, according to Forrester Research. The study estimates that India's e-commerce market could grow at an annual pace of over 31% over the next five years, hitting $64 billion in revenue by 2021. Not surprisingly, Amazon (NASDAQ: AMZN) has been aggressively pursuing this opportunity by moving into new categories, having already poured over $2 billion into this market.
But Amazon has run into stiff competition from domestic e-commerce company Flipkart, which has charted out a smart strategy to keep its growth on track despite the American giant's massive investment.
Image source: Amazon.
Source: Fool.com
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