Walmart (NYSE:WMT) expects its e-commerce business in India to grow substantially, with 90 percent of its business to be digitally influenced.
With the advent of better online connectivity in the country, Walmart's two mobile solutions, Best Price mobile app and Dial-a-Deal IVR system, for members of its wholesale stores in India, are poised to be major growth drivers.
"If we look at digitally influenced business, nearly 90 percent of our business would be digitally influenced, primarily because those who are coming to our store are also checking price on Web through their cell phone," Walmart India President and CEO Krish Iyer told Business Standard.
Iyer's optimism comes from better connectivity in the country as 4G becomes a reality in India. The result was so encouraging that Walmart India fast-tracked its roll out from a pilot basis in test stores to all 21 of the Best Price stores in India last year.
Iyer was not sure how much e-commerce contributes to Walmart India's overall annual revenues.
Last summer Walmart invested $103 million in its Indian operations, with the goal of expanding the number of wholesale stores as well as its online presence. Walmart piloted an e-commerce site for retailers in the cities of Hyderabad and Lucknow, and then expanded into a full rollout earlier this year.
-See this Business Standard article
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