According to Forrester’s India Online Retail Forecast, 2013 To 2018, currently only two percent of India’s population of 1.28 billion are online shoppers, and Forrester’s Capture The Global eCommerce Opportunity report puts India’s B2C ecommerce market at $7.2 billion.
According to Gartner, “The India eCommerce market will reach $6 billion in 2015, a 70 percent increase over 2014 revenue of $3.5 billion.” And last year, ASSOCHAM (Associated Chambers of Commerce and Industry of India) pegged the Indian ecommerce market at $16 billion.
With respect to India’s growth and potential of ecommerce, no one is in different minds about it. It is on the explosive path and gives a good opportunity for small as well as medium size sellers to spread their wings beyond geographical boundaries.
The following three points are to be kept in mind:
- Mobile shoppers have overtaken desktop shoppers, due to increasing internet and smartphone penetration.
- Cash on delivery is the most popular and preferred payment method.
- Market entry is easier through marketplaces than trying to reach out to customers directly.
Check out the infographic below for some insights into Indian Ecommerce in 2015.
Source: Cleverbridge