Pune: Attractive deals and aggressive marketing would increase average online purchases in India by 78% in 2016 from 66% in 2015, according to a recent report.
The report, released by the Associated Chambers of Commerce (Assocham) on the basis of a study it undertook in association with PricewaterhouseCoopers (PwC), says that about 55 million consumers logged in to buy things in 2015, and the number is expected to grow to 80 million. Better infrastructure in terms of logistics, broadband and Internet-ready devices would help, the report adds.
The overall e-commerce industry, valued at $25 billion, has been growing at a compounded annual growth rate of about 35 - 40% each year, the study said, adding that it is expected to cross the $100 billion mark in five years.
In 2015, a higher amount was being spent on average for popular online categories such as bags by 110%, apparel (68%) and cosmetics (25%). There was also a significant increase in spending on categories such as watches by 126% and artificial jewellery by 65%, the report said. "Smartphone and tablet shoppers would be strong growth drivers. Mobile phones already account for 11% of e-commerce sales; this share would jump to 25% by 2017," the report said.
Commenting on the findings,
D S Rawat, secretary general of Assocham, said, "E-commerce is big business and is getting bigger every day. Online shopping has been embraced by Indianswith close to 8-10 million adults making a purchase via the internet in the last year".
Computer and consumer electronics, along with apparel and accessories, account for the bulk of India's retail e-commerce sales. These would contribute 40% of the total retail e-commerce sales in 2016, a rise from the current 35%, the study said.
India's travel and tourism industry is the second fastest growing travel industry in the world. Nearly 75% of all travel-related businesses have migrated to e-commerce. With nearly one-third Internet users already making purchases online, the e-commerce growth would rely more on increased spending from existing buyers than first-time online buyers, it said.
Other factors contributing to the growth of e-commerce include aggressive merchandising and discounts from flash sales and daily deals, more online loyalty programmes and increasing popularity of smartphones and tablets among consumers, the study added.
growth in the last year, the paper added.
Even with efficiency improvements in individual performance and productivity (IPPs) in the delivery networks, it is estimated that there would be an additional employment of close to 1,00,000 people in these two functions alone by 2017-2020, representing an increase in employment, the report said.
Online purchase of event tickets, music, consumer electronics, games and consoles, sports equipment, flowers, insurance, home appliances and furniture saw a strong
The report, released by the Associated Chambers of Commerce (Assocham) on the basis of a study it undertook in association with PricewaterhouseCoopers (PwC), says that about 55 million consumers logged in to buy things in 2015, and the number is expected to grow to 80 million. Better infrastructure in terms of logistics, broadband and Internet-ready devices would help, the report adds.
The overall e-commerce industry, valued at $25 billion, has been growing at a compounded annual growth rate of about 35 - 40% each year, the study said, adding that it is expected to cross the $100 billion mark in five years.
In 2015, a higher amount was being spent on average for popular online categories such as bags by 110%, apparel (68%) and cosmetics (25%). There was also a significant increase in spending on categories such as watches by 126% and artificial jewellery by 65%, the report said. "Smartphone and tablet shoppers would be strong growth drivers. Mobile phones already account for 11% of e-commerce sales; this share would jump to 25% by 2017," the report said.
Commenting on the findings,
D S Rawat, secretary general of Assocham, said, "E-commerce is big business and is getting bigger every day. Online shopping has been embraced by Indianswith close to 8-10 million adults making a purchase via the internet in the last year".
Computer and consumer electronics, along with apparel and accessories, account for the bulk of India's retail e-commerce sales. These would contribute 40% of the total retail e-commerce sales in 2016, a rise from the current 35%, the study said.
India's travel and tourism industry is the second fastest growing travel industry in the world. Nearly 75% of all travel-related businesses have migrated to e-commerce. With nearly one-third Internet users already making purchases online, the e-commerce growth would rely more on increased spending from existing buyers than first-time online buyers, it said.
Other factors contributing to the growth of e-commerce include aggressive merchandising and discounts from flash sales and daily deals, more online loyalty programmes and increasing popularity of smartphones and tablets among consumers, the study added.
growth in the last year, the paper added.
Even with efficiency improvements in individual performance and productivity (IPPs) in the delivery networks, it is estimated that there would be an additional employment of close to 1,00,000 people in these two functions alone by 2017-2020, representing an increase in employment, the report said.
Online purchase of event tickets, music, consumer electronics, games and consoles, sports equipment, flowers, insurance, home appliances and furniture saw a strong
Resource : http://timesofindia.indiatimes.com/city/pune/E-shopping-to-rise-78-this-year-Report/articleshow/51503625.cms
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