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India’s e-commerce accounts for below 1 percent of retail sales

  • India accounts for
    less than one percent of the total retail sales despite being the fastest
    digital commerce market in Asia, growing at 40 percent each year, top research
    firm Gartner said in a report.
  •  
    • India accounts for
      less than one percent of the total retail sales despite being the fastest
      digital commerce market in Asia, growing at 40 percent each year, top research
      firm Gartner said in a report.
    •  

    •  
    • “India represents
      a $7 billion (roughly Rs 45,841 crores) digital commerce market, growing at more
      than 40 percent every year. Currently, B2C commerce leads the market in India,
      while B2B is limited to organisations that drive online sales while trying to
      cut costs in dealing with their partners and distributors,” Gartner
      Managing Vice-President Gene Alvarez said in a statement.
    •  
    • Mobile commerce is a
      primary channel for digital commerce in India. Over 40 percent of digital
      commerce transactions came from a mobile device in 2014, and it is likely to
      exceed 50 percent in 2015, the report said.
    •  
    • Due to the low
      Internet penetration in India, the country is leapfrogging the PC, and
      consumers are using mobile as the primary channel for online shopping, it
      noted.
    •  
    • “There is a lot
      of hype due to the high growth and high expectation of the market, and many
      companies are fast expanding to grab market share and increase visibility. However,
      the fierce competition is pushing up costs while the average order value
      remains low. Players need to execute on the basics to ensure the growth is
      sustainable,” Alvarez said.
    •  
    • Customer experience,
      product range, delivery, payment and customer service are the top five things
      Indian digital commerce players should focus on to grow their business, Gartner
      said.

     

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