Mar 02, 2015
This week, millions of Hindus in India and elsewhere shall usher in spring with an eruption of colour. The festival of Holi celebrates the harvest and fertility, and despite its religious origins, lacks any such activity. Celebrated in March, it involves much conviviality - with singing, dancing, and the throwing of powder paint.
Holi is the great leveller, with people from all castes, creeds and socio-economic backgrounds participating in the two day festival where it is perfectly acceptable to douse friends and strangers alike with powdered colour - delivered wet or dry.
With its rich patchwork of cultures and traditions, India is the original melting pot. A growing middle class with commensurate pay out of its population of 1 billion, has made India a market to be reckoned with. A history of innovation and adaptability and an existing expertise in tech, makes it ripe for eCommerce. Research firm Gartner Inc. believes online retailing sales in the country could grow 71% from an estimated $3.5 billion in 2014 to $6.0 billion in 2015 and an estimated $25 billion as soon as 2020.
Home to the third largest population of Internet users in the world, many are only just starting to make purchases online. According to the Reserve Bank of India, only 18 million adults own credit cards, compared with nearly 200 million in the US. As such, there is plenty of room for growth.
As global brands strive to enter India, the best way is through the internet. A complicated regulatory and tax environment can deter some e-tailers, though here at wnDirect, we deal in complexity every day, working with online retailers to get their products to market.
On March 6th Indians everywhere will participate in the Festival of Colour. From the purifying bonfires the night before the festival, through to the singing, dancing, and paint-chucking, here's to spring. Holi hai!