Top News

E-commerce market in India to touch $16 billion in 2015: Study

According to a joint study by
ASSOCHAM-Deloitte,
e-commerce market in India is set to cross business
worth $16 billion by the end of 2015.

According to a joint study by
ASSOCHAM-Deloitte,
e-commerce market in India is set to cross business
worth $16 billion by the end of 2015.

The ‘Future of
e-commerce: Uncovering Innovation’ study reveals that the digital commerce
market in India has grown steadily from $4.4 billion in 2010 to $13.6 billion
in 2014 and likely to touch $16 billion by the end of 2015 on the back of
growing internet population and increased online shoppers.

It said online
travel accounts for nearly 61% of e-commerce business while e-tailing
contributes about 29%.

Stating that
e-commerce players from the US, Europe and Japan are seeing slower growth in
home markets, ASSOCHAM quoting the study, said they are increasingly looking to
enter developing economies of India, Brazil and China which have forecast
growth rates of more than 20% over the coming years.

The most popular
e-commerce categories are non-consumable durables and entertainment related
products, highlighted the joint study.

“The
greater adoption of internet and smartphones is the biggest driver of
e-commerce in India,” ASSOCHAM secretary general D S Rawat was quoted in
the report as a saying.

Internet
penetration is rapidly increasing with around 300 million users in 2014, he
said, adding, “The smartphone is steadily growing and consists of 35% of
the overall mobile phones market in the country and success rate of some of the
technologies is directly connected to the success of e-commerce.”

The study also
states that the e-commerce companies are concentrating their efforts on
increasing the penetration of their mobile apps for higher growth, adding that
big players in this space claim to have more than 50% of their revenue coming
from mobile apps.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close