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Land of Unicorns

DNMUM436392 | 5/16/2019 | Author : Priyanka Golikeri | WC :710

Whether it is e-commerce, ride-hailing or food tech, close to 90% of the market in all new-age businesses is controlled by Unicorns. So how do smaller firms carve out their space in a landscape dominated by Goliaths?

Consider this. Amazon and Walmart-owned Flipkart together control 90% of India’s e-commerce market, which is expected to grow to $150 billion by 2022. The US retail giants have their reach across categories like electronics, accessories, fitness, books, fashion, babycare, beauty, home appliances, to name a few. Similarly, ride-hailing Unicorns Ola and Uber control 90% of the $10 billion cab-hailing market in the country.
In the foodtech space as well, firms billion-dollar firms such as Swiggy and Zomato hold sway over a major chunk of the market. As per estimates by RedSeer Consulting, of the daily order volume of over 15 lakh, Swiggy clocks in roughly over six lakh orders, while Zomato manages about 5.2 lakh orders each day.

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