E-commerce /Online shopping in India

India E-commerce / Online shopping Facts

According to a Morgan Stanley report, India's e-commerce market will grow at 30% annually for gross merchandise value to be worth $200 billion by 2026.

According India Brand Equity Foundation the Indian e-commerce industry has been on an upward growth trajectory and is expected to surpass the US to become the second largest e-commerce market in the world by 2034. ▫ The e-commerce market is expected to grow at a compound annual growth rate (CAGR) of 44.77 per cent from 2016-20 to touch US$.

Internet penetration in India grew from just 4 per cent in 2007 to 34.08 per cent in 2016, registering a direct increase of 89 per cent in 2016 over 2007.

Urban India with an estimated population of 444 million already has 269 million (60 per cent) using the Internet. Rising internet penetration is expected to drive ecommerce growth in India.

Propelled by rising smartphone penetration, the launch of 4G networks and increasing consumer wealth, the Indian e-commerce market is expected to grow to US$ 188 billion by 2025. 

 § Rural India, with an estimated population of 906 million as per 2011 census, has only 163 million (17 per cent) Internet users. There is therefore a great opportunity for increasing penetration in the rural areas. 

§ Analysis of ‘Daily Users’ reveal that both in Urban and Rural India, the younger generations are the most prolific users of internet.

In India, cash on delivery is the most preferred payment method. Demand for international consumer products (including long-tail items) is growing much faster than in-country supply from authorized distributors and e-commerce offerings.

E-commerce is increasingly attracting customers from Tier 2 and 3 cities, where people have limited access to brands but have high aspirations.

(Source: India Brand Equity Foundation)

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