Online Spending to Surge 67% This Year in India
Jan. 5, 2015
Average annual online spending in India will grow by 67 percent by the end of this year, according to a study by the Associated Chambers of Commerce and Industry of India (Assocham) and Price Waterhouse Coopers. The report also predicted the number of Indian consumers making an online purchase will rise from 40 million in 2014 to 65 million this year, driven by better logistics, wider availability of broadband and explosive growth in Internet-ready devices. By 2019, annual e-commerce spending in the country will rise to $100 billion from its current level of $17 billion, the report said.
Mobile commerce will be a significant factor in Indian e-commerce, according to D.S. Rawat, secretary general of Assocham. Currently, 11 percent of e-commerce purchases in India originate on a smartphone or tablet, Rawat said. By 2017, the report expects that share to grow to 25 percent. In 2015, nearly half of e-commerce dollars will be spent on consumer electronics, apparel and accessories.