multi-vendor ecommerce website
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- October 07, 2021
MSMEs are the engine of economic development in India. They contribute 30% to GDP and it would not be wrong to say that they are the main income provider for people who are at the bottom of the pyramid. Rising internet penetration and the use of digital technologies have changed the way MSMEs operate. In 2020, there were over 749 million internet users in India. This figure is projected to grow to over 1.5 billion users by 2040. This large base of internet users has changed how MSMEs operate - how they sell and buy their products.
Many MSMEs in India are shifting to the e-marketplace route not just to showcase their products but to also reduce procurement costs. By collaborating with e-marketplace, MSMEs can take advantage of third-party platforms to reduce costs which allows for a more competitive pricing strategy that can impact volume sales.
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