Ecommerce set to grow to 1.7% of total retail sales in India by end of 2015

eMarketer has released a report that says ecommerce in India is growing at the speed of a supersonic jet. In 2014, ecommerce sales amounted to a meagre 0.8% of the total retail sales in India. This figure is poised to grow to 1.7% by the end of 2015.

The study also observes that online commerce will grow at a rate of 129% in 2015, whereas the growth of physical retail is predicted to be 14%. The number of online shoppers will hit 82.3 million by end of 2015.

Key observations

The growing popularity of mobile devices is a major contributing factor in the rise of ecommerce, notes the study. The study also attributes the boom of the middle class consumers with greater spending power to the rise of online commerce.

The growing markets in China, India, and Indonesia are aiding the growth of ecommerce in the Asia Pacific region, says the report. China is expected to contribute to 40% of the world’s retail ecommerce market.

Asia-Pacific setting world records

The Asia Pacific region will see a 35.7% growth in retail ecommerce sales this year. The figure is set to attain $877.61 billion. The study notes that this will be the first time the Asia Pacific region will have the largest digital retail market in the world. The region will also grab the lion’s share of retail spending, with 52.5% globally, setting a record again.

Online sellers have reason to rejoice this season, as online sales are only set to go up over the next few years. Now will be a great time to jump on the bandwagon.