According to a report by TechSci Research (Canada based), ecommerce industry in India is set to expand by 36% by 2020.
“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.
The report also spells out the factors that would contribute most to the growth:
- Increase in smartphone penetration
- Discounts and offers (but we know etailers are trying to cut down on this)
- Increase in disposable incomes of consumers
- Youth and their interest in new trends
Travel, electronics, apparel and accessories still dominate the ecommerce market in India. With newer delivery options and innovations, consumers have more confidence in the concept of online shopping, the rising popularity of online grocery testimony to this.