E-commerce Market in India to Get 100 Million Consumers by 2017: ASSOCHAM’s Report

According to a study published by ASSOCHAM Resurgent India that is observing India’s digital movement very closely, about 69 million consumers in India purchased online in 2016 and the number is expected to reach up to 100 million by end of 2017. With the increasing huge number of internet enabled smartphones, digital initiatives by government and improvement in logistics infrastructure will fuel the demand in online shopping very aggressively in 2017.

E-commrce Market in India

The study also reveals that Bengaluru ranked first in India shopping online, while Mumbai ranked second and Delhi third. In 2017, the concept of e-commerce can be called m-commerce as 35% of online sales were accounted through mobile devices and expected to cross 50% in 2017 according to the report. Another exciting revelation is 50% sales come from mobile with a majority being first time users.

Undoubtedly e-commerce sector will continue providing more job opportunities and creating entrepreneurship platforms. The study also predicts the retail online sales figure to reach by $18 billion by 2018 at an impressive rate of 65% comparing to 2014.

The study also suggests that demonetization causing reduction in cash transactions will encourage banks to push their customers for net-banking that can be huge opportunities for the e-commerce players.

 

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