E-commerce is expanding the Indian luxury market: ASSOCHAM
The Dollar Business Bureau Indians are likely to spend US $35 billion on online luxury stores by 2016 compared to that of US $8 billion in 2012, says the Associated Chamber of Commerce & Industry (ASSOCHAM), in its recent study. The online luxury industry in India is growing at a compound annual growth rate of about 25%, added the study, while referring to the reasons contributing to the rise of the industry in the country. According to the study, a rise in disposable incomes, expansion of modern retailing and the impact of western culture have provided a platform for promising growth of online luxury industry in India. The study said that the major growth is being driven by the ...
