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 an ASSOCHAM-Resurgent India study.
As per the findings of the joint study, Bangalore has left behind all other cities in India shopping online in the year 2016. While Mumbai ranks second, Delhi ranks third in their preference for online shopping.
In other cities like Bangalore, 69% of its population chose to buy daily routine products through e-shopping in 2015-16, which will go to 75% this year for apparel, gift articles, magazines, home tools, toys, jewellery, beauty products & sporting goods categories.
Likewise, Mumbai share was 65% in the last year, which might go up another 70% in this year for electronic gadgets, accessories, apparel, gifts, computer peripherals, movies, hotel booking, home appliances, movie tickets, health & fitness products and apparel gift certificates etc whereas, Delhi, 61% of its population chose to buy daily routine products through e-shopping in 2015-16, which will go to 65-68% by the year end.
The ASSOCHAM- Resurgent India joint study reveals, 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%). The e-retail sale continues to register an unprecedented growth and increase by leaps and bounds over the 2013-2018 period.
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,” adds the report.
E-commerce is big business and getting bigger every day. Online shopping has been embraced by Indians with close to 25-30 million adults making a purchase via the internet in the last year. The paper said, online shoppers and buyers starting with a base age of 18 are become more involved with ecommerce in their early teens, adds the paper.
Read more on SMEStreet