Analysing scope and challenges with e-market for agricultural produce

Abstract

E-commerce is a promising channel for farmers to meet their buyers as India witnesses a rise in digital penetration, growth of the agri-tech sector, and increased internet penetration in India (Statista). The internet has enabled more efficient monitoring and movement of goods bringing various stakeholders closer. Agriculture is one of the few sectors yet to witness the impact of e-commerce, but that is getting changed lately as many e-market agricultural start-ups in India have shown optimistic growth and increased investor confidence like Crofarm (last round of funding- July 19th, 2021, $10.2 M), Waycool (last round of funding- March 30th, 2021, $20.6 M), Ninjacart (last round of funding- May 23rd, 2021, $9.5 M), etc. The digital innovations and technological intervention in e-marketing coupled with the liberalization of market regulations have caught attention of small and medium players to enter the market. There is a need for developing a sustainable model that employs efficient processes to improve convenience, reduce wastage and cost, and be more reliable.