American entrepreneur and influencer Christopher James White is set to foray into the fast-growing Indian e-commerce market with an Artificial Intelligence based e-commerce platform that will allow personalised shopping.
The new platform, being set up with an investment of Rs 10 crore, will offer personalised shopping to customers by optimising product search and selection, delivering high-quality products at competitive prices, while providing an exceptional customer experience.
The platform will feature a wide range of products, including electronics, fashion, beauty, and home goods, among others. The platform is inspired by Prime Minister Narendra Modi's vision of Digital India, where e-commerce drives entrepreneurship and the internet reaches and empowers all Indians.
"We are very excited to be working on our soon-to-be-launched AI-based e-commerce platform in India. India is a promising market with a large and diverse consumer base and rapidly growing digital infrastructure. Driven by increasing internet penetration and evolving consumer behaviors, the market is ripe for disruption and innovation. Our platform will be an exciting development for the Indian e-commerce segment and we are confident we will be able to usher in significant changes in the way Indian consumers shop online," said Mr White, who is just 21, and has more than 120 million followers across various social media platforms.
The Indian e-commerce market has been growing at an exponential rate and has attracted significant investments from both domestic and international players. From around $75 billion in 2022, the e-commerce market is expected to reach $188 billion by 2025 and $350 billion by 2030, according to Statista. It is expected to surpass the US to become the second-largest e-commerce market in the world by 2034.
The existing major e-commerce players largely focused on large urban areas, but increasing penetration of smartphones and internet connectivity has given rise to a large market in smaller cities and even towns. Moreover, the Indian market is diverse with different languages, cultures, and preferences. With its advanced AI algorithms that can analyse customer data to offer targeted product suggestions that meet individual needs, and focus on delivering the best consumer experience, the platform has the potential to attract a large and loyal customer base.
A team of experienced professionals with expertise in AI, e-commerce and marketing is already working to roll out a world-class e-commerce platform that will be able to compete with existing market players.
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( With inputs from ANI )
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