5 Facts About E-commerce in India

India, one of the largest economies in the world, is at a respectable rate in e-commerce. In Asia, the E-commerce market is growing faster, and India is pushing big players like China and Japan into this market. In light of this information, we have compiled 5 facts about e-commerce in India for you. Let’s start without wasting time.

1. India is the winner of the Asia

India’s e-commerce revenue is expected to jump from USD 30 billion in 2016 to USD 120 billion in 2020, growing at an annual rate of 51%, the highest in the world, according to a joint ASSOCHAM-Forrester study paper.

It is a fact that China and Japan are giants in terms of e-commerce. However, the same study highlighted that against India’s annual expansion of 51 percent, China’s e-commerce is growing at 18%, Japan’s at 11%, and South Korea’s at 10%. Shortly, India grows faster.

2. Mobile Mobile Mobile

ASSOCHAM says that roughly 60-65 percent of the total e-commerce sales are generated by mobile devices and tablets in India. Shopping online through smartphones is proving to be a game-changer, and industry leaders believe that m-commerce(mobile commerce) could contribute up to 70 percent of their e-commerce revenues.

3. Men are first

Even if, surprisingly, the old age population is active in e-commerce, the majority of digital shoppers in India are males between 25 and 34 years old. It is thought that this is the cause of the gender gap in mobile phone ownership and usage rate in the Asia region. According to Gender Gap in Mobile Usage Reports of GSMA, women in South Asia are 26% less likely to own a mobile phone and 70% less likely to use mobile internet than men. Most Indian women are more likely to “borrow” phones from friends and family than own a device.

4. New and Avid boy of the Town: Amazon

Amazon entered the Indian e-commerce market in 2012 with Jungle.com. According to Statistica research, In 2017, Amazon. In was the leading online store in India with net e-commerce sales of 561.4 million U.S. dollars, followed by local competitors Flipkart and Myntra.