The Rapid Growth of e-Commerce in India :
Over the last two decades, rising internet and mobile phone penetration has penetrated our lives and changed the way we communicate and do our businesses.
E-commerce is relatively a novel concept. It is, at present, heavily leaning on the internet and mobile phone causing ,
through new Invention/T echnology revolution to fundamentally alter the way business reach their customers.
While in countries such as the US and China, e-commerce has taken significant strides to achieve sales of over 150 billion USD in revenue.
The industry in India is, still at its infancy .
However over the past few years, this sector has grown by almost 35% CAGR from 3.8 billion USD in 2009 to an estimated 12.6 billion USD in 2013.
Industry studies by IAMA2 I indicate that online travel dominates the e-commerce industry with an estimated 70% of the market share.
However , e-retail in both its forms; online retail and market place, has become the fastest-growing segment, increasing its share from 10% in 2009 to an estimated 18% in 2013 in our
country . Calculations based on industry benchmarks estimate that the number of parcel check-outs in e-commerce portals exceeded 100 million in 2013.
However , this share represents a miniscule proportion (less than 1%) of India’ s total retail market, but is poised for continued growth in the coming years.
If this robust growth continues over the next few years, the size of
the e-retail industry is poised to be 10 to 20 billion USD by 2017-2020.
This growth is expected to be led by increased consumer -led purchases in durables, electronics, apparels and accessories,
besides traditional products such as books, audio-visuals etc.
Over the last two decades, rising internet and mobile phone penetration has penetrated our lives and changed the way we communicate and do our businesses.
E-commerce is relatively a novel concept. It is, at present, heavily leaning on the internet and mobile phone causing ,
through new Invention/T echnology revolution to fundamentally alter the way business reach their customers.
While in countries such as the US and China, e-commerce has taken significant strides to achieve sales of over 150 billion USD in revenue.
The industry in India is, still at its infancy .
However over the past few years, this sector has grown by almost 35% CAGR from 3.8 billion USD in 2009 to an estimated 12.6 billion USD in 2013.
Industry studies by IAMA2 I indicate that online travel dominates the e-commerce industry with an estimated 70% of the market share.
However , e-retail in both its forms; online retail and market place, has become the fastest-growing segment, increasing its share from 10% in 2009 to an estimated 18% in 2013 in our
country . Calculations based on industry benchmarks estimate that the number of parcel check-outs in e-commerce portals exceeded 100 million in 2013.
However , this share represents a miniscule proportion (less than 1%) of India’ s total retail market, but is poised for continued growth in the coming years.
If this robust growth continues over the next few years, the size of
the e-retail industry is poised to be 10 to 20 billion USD by 2017-2020.
This growth is expected to be led by increased consumer -led purchases in durables, electronics, apparels and accessories,
besides traditional products such as books, audio-visuals etc.