According to the industry chamber, Assocham, online shopping has risen by 85% in 2013 in India from $8.5 bn in 2012 to $16 bn in 2013.
Increasing Internet penetration, rising fuel prices and availability of more payment options boosted the e-commerce industry. As a result, India’s e-commerce market is expected to touch $56 bn by 2023 – 6.5% of the total retail market.
The “Online Shopping – Review and Outlook 2013” survey ranks Mumbai first in online shopping, followed by Delhi and Kolkata. Furthermore, the analysis reveals that,
Besides, 65% of online shoppers are Male while 35% are Female. The products that are sold most are in the tech and fashion category, including mobile phones, tablets, accessories, MP3 players, digital cameras and jewellery.
Having close to 10% of Internet penetration in India throws a very big opportunity for online retailers to grow and expand as future of Internet seems very bright.