There has been an exceptional growth in the e-commerce sector, especially in India. The online shopping sites have seen tremendous growth in the number of customers because the online retail in India is booming. While the statistics of online shopping in India have been increasing, you might wonder exactly how many people shop online in India!
Online shopping is here to stay. It is an easy and convenient way to get what you want at your doorstep. With facilities like same day delivery and free shipping, the growth of e-commerce in India is remarkable. The online retail in India is seeing major competition among service providers.
To find out more on this keep on reading further.
Ecommerce in india is dominated by Amazon. It has the largest user base in India and makes the maximum revenue every passing year. According to trade pundits, Amazon will keep on dominating the e-commerce market in India for years to come. Flipkart gives a tough competition to Amazon but faiLs to outshine it. However, the e-commerce sector is growing an at exceptionally faster rate and will take over China and USA in terms of the customer base in the coming years.
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The number of people who use internet is estimated to be around 450 million as of June 2017. Even though India is the second biggest market after China, the growth in the e-commerce sector has been low when compared to USA and France. However the rate at which the e-commerce sector is growing in India, the number of customers will only increase. By 2020, India will generate $100 billion of online revenue.
Online Retail In India
The scenario of the online retail in India is not as good as anticipated. In India, the most preferred mode of payment is cash on delivery. This creates backlogs, and the delivery of items is halted sometimes. The online retail sector in India is in a dire need of a makeover.
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Statistics Of Online Shopping In India
Now let’s see some facts and figures. In 2015, India was the fastest growing e-commerce market. It was growing at a rate of 129%. Amazon is the leading e-commerce website with a revenue of $437 million in 2016-17. Flipkart comes in at the second spot with $399 million in revenue. The total sales in the online retail sector were $38 billion in 2016.
How Many People Shop Online?
It is estimated that close to a 100 million people shop online in India. The majority of shoppers buy electronics. The number of shoppers is at a peak during festivals when e-commerce giants like amazon, Flipkart, Snap deal, Myntra, etc. bring ou exclusive deals and discounts for the Indian consumer base. The number of online shoppers is expected to cross 175 million by the end of 2017.
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