India To See High Rise in E-commerce Soon
Posted in: April 13, 2020 at 6:39 am
According to a new report presented by ASSOCHAM-Forester study paper, India’s e-Commerce revenue is expected to jump from $30 billion at present to $120 billion in 2020, growing at an annual rate of 51%, the highest in the world!
Being driven by a young demographic profile, increasing internet penetration and relative better economic performance, the sector is mounting year by year, thanks to the young internet users of the country.
With annual additions of 25 million internet users, India is ahead of countries like Brazil and Russia even within the BRICS nations. India has an Internet user base of 400 million in 2016 whereas Brazil has 210 million internet users and Russia has 130 million of internet user.
It is not surprising to see the growth among categories focused on younger audiences in the last 12 months, added the paper. The maximum online shoppers are from the 15-24 years of age group, comprising both of males and females.
Online travel has seen growth across all subcategories including car rentals, airlines, hotels and travel review and information sites. The top 10 sites among the travel category show a good mix of travel options as well as information. Users are seeking information on travel options on a regular basis, with the railways being the largest target. One out of every 5 online users in India visits the Indian Railways site.
Retail category penetration has increased to 65 million unique visitors a month registering an annual growth of 55%. The growth has come across all retail categories and most of them show promising transactions and conversion rates along with growth in visitors. Apparel has been the fastest growing subcategory in retail and reaches 24% online users