E-commerce needs to grow at 45% CAGR to achieve $80 billion by 2020
The Dollar Business Bureau The Indian e-commerce industry will have to grow at a CAGR of 45% to reach a size of $80 billion by 2020, an industry study said. The industry registered a staggering growth of 180% in 2015 but slumped to a mere 12% in 2016 due to a host of internal and external factors. Currently, the industry is valued at $14.5 billion, and there were previous estimates of the sector touching $100 billion by 2020, according to a study by RedSeeer Consulting. India’s major retailers such as Flipkart and Snapdeal felt the prolong impacts of these unfavourable market condition, limiting their 2016 growth. However, Amazon succeeded in assessing the market conditions altered its market share strategy to capture a big chunk of this competitive ...
E-Commerce market to grow 67% in 2016
India's e-commerce market went up to $23 billion in 2015 from $17 billion in 2014 and it is expected to touch $38 billion by 2016, says ASSOCHAM The Dollar Business Bureau In 2015, 78% of shopping queries were made through mobile devices, compared to 46% in 2013 Indian e-commerce market is likely to grow by 67% in 2016 to reach $38 billion from the current level of $23 billion, a study has said. Increasing internet and mobile penetration, growing acceptability of online payments and favourable demographics have provided Indian e-commerce players the unique opportunity to connect with their customers, said the study conducted by the Associated Chamber of Commerce and Industry (ASSOCHAM). With buying trends witnessing a significant upward movement in 2015 due to ...
E-commerce generates $1.2 mn revenue every 30 seconds
The Dollar Business Bureau Social media is contributing significantly to the growth of e-commerce business which is generating over $1.2 million revenue every 30 seconds, says a study. “Every 30 seconds, global e-commerce industry generates over $1.2 million revenue with social networking sites like Facebook, Pinterest and Twitter contributing $5,483, $4,504 and $4,308 respectively,” said a joint study by Associated Chamber of Commerce and Industry (ASSOCHAM) – Deloitte. According to the study, the maturity of social networking tools and their reach makes them a suitable tool to boost online sales. "Social media pages provide information regarding new products in the market, user reviews and ratings of the product, recommendations, and information technology (IT) products," it said. The study report said that the ...
Digital India can produce several Alibabas: Communications & IT Minister
The Dollar Business Bureau | @TheDollarBiz Mobile phone connectivity has reached the most remote parts of the Sundarbans jungles, West Bengal, India, but internet usage remains low There is a vast potential for the e-commerce sector to grow in India with the implementation of the Digital India programme, Ravi Shankar Prasad, Communications & IT Minister, said at the 10th national summit on E-governance & Digital India organised by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) in New Delhi yesterday. Prasad said, “I see a vast opportunity for e-commerce…I see almost an explosion of various kind of availability of services through e-commerce.” Retail exports (e-tailing) is a growing sector in India and e-commerce plays a key role in ...
