New Delhi: In 2016, about 69 million consumers purchased online and the number is expected to cross 100 million by 2017 with the rise of digital natives, better infrastructure in terms of logistics, broadband and Internet-ready devices to fuel the demand in e-Commerce, according to a study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), one of the apex trade associations of India, and Resurgent India, a consultancy firm.
The joint study reveals that Indian e-Retail looks even more promising which is up from $3.59 billion in 2013 to $5.30 billion in 2014 (a phenomenal increase of 48%), by the end of 2018, it is expected to touch $17.52 billion (with growth of 65%).
In 2017, mobile commerce will become more important as most of the companies are shifting to m-commerce. Mobile already accounts for 30-35% of e-commerce sales, and its share will jump to 45-50% by 2017. Online shopping has been embraced by Indians with close to 25-30 million adults making a purchase via the internet in the last year.
In 2016, it showed that a higher amount was being spent on average for popular categories such as apparel by 85 per cent, mobile phones by 68 per cent and cosmetics by 25 per cent, when it comes to online shopping. There was also a significant increase in spending on categories such as watches by 75 per cent and artificial jewellery by 65 per cent. Computer and consumer electronics, along with apparel and accessories, account for the bulk of India’s retail e-commerce sales.
There is a surge in the number of people shopping on mobile across India with tier II and III cities displaying increased dominance. In fact, 50% of our traffic is coming from mobile and a majority of them are first time customers.
The year 2017 will see large scale growth in the Indian e-commerce sector with increased participation from people across the country. This industry will continue to drive more employment opportunities and contribute towards creating more entrepreneurs through the e-commerce marketplace model.
As per the joint study, the total retail sales in India is growing at an impressive rate of 15%, registering a double digit growth figure year after year.
Kerala Biz News