Indian ecommerce market to grow 36% by 2020 - report
05.10.2015 226 views
The Indian ecommerce market is forecasted to register a 36% increase by 202, boosted by huge discounts and the rising use of smartphones, a new research study reveals.
The expanding smartphone user base, huge discounts and offers, increasing per capita disposable income and the growing youth population, will be the drivers for the predicted compounded annual growth rate, according to a recent report issued by Canada-based TechSci Research, indiatoday.in reports.
"India's workforce comprises of young consumers who have less time for going out and shopping at regular brick-and-mortar stores. Such a scenario creates potential for online shopping in a market as huge as India," Karan Chechi, Research Director with TechSci Research said in a statement. "Moreover, great offers and discounts by the leading e-commerce players further increase consumer interest towards the products," Karan Chechi said, the source cites.
India's ecommerce market is dominated by e-services segment, on account of booming online travel market, which is emerging as the most preferred medium for planning holidays, making hotel bookings and buying tickets for travel by various modes including air, bus and rail. Rising number of high speed internet users is encouraging businesses to innovate and offer a diversified array of products and services online.
Consumer electronics, online travel, apparel and accessories are the market segments exhibiting promising growth. Also, with the option of same day delivery, online groceries stores are also entering into the country's online space.
Source: The Paypers
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