Report: Indian E-Commerce to Grow 67% in 2016
Jan. 4, 2016
India is beginning to realize some of its enormous e-commerce potential, growing 52 percent from 2014 to 2015 with even stronger growth slated for the coming year, according to ASSOCHAM, an association of chambers of commerce throughout India. E-commerce sales will jump 67 percent from $23 billion this year to $38 billion in 2016, the group predicted. While China, the U.S. and the U.K. dominate global e-commerce, growth in India is expected to remain strong , with a huge population turning to mobile devices in a big way.
“Increasing Internet and mobile penetration, growing acceptability of online payments and favorable demographics has provided the e-commerce sector in India with the unique opportunity for companies to connect with their customers,” said D.S. Rawat, secretary general of ASSOCHAM. “The customer is connected 24×7 through their smart phones, tablets and other mobile devices which is leading to a gradual evolution of e-commerce into mobile commerce.”
According to the ASSOCHAM report, industry leader expect mobile online sales to account for up to 70 percent of total revenue in the near future.