News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

India Will Have 100 Million Online Shoppers in 2017: Report

India Will Have 100 Million Online Shoppers in 2017: Report

The number of online shoppers in India will surge 45 percent to 100 million by the end of this year, according to a new report released yesterday. The Associated Chambers of Commerce of India and consultancy Resurgent India said a bigger population of “digital natives” along with better logistics, better broadband infrastructure and more Internet-ready devices will contribute to enormous growth in online transactions in 2017, especially in India’s biggest cities. The report predicted residents of Bangalore would lead the way with 75 percent of its population making e-commerce purchases for “daily routine products.”

Mobile online transactions will become increasingly prevalent, according to the report’s authors. In 2016, mobile accounted for 30 to 35 percent of all online transactions in India, but in 2017 that share will jump to between 45 and 50 percent.

By value, ASSOCHAM and Resurgent India expect e-commerce in the country to reach $17.5 billion in 2018, up from only $5.3 billion in 2014.