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| E-commerce Website development |
The
e-commerce industry in the country is likely to be worth USD 38
billion by 2016, a 67 per cent jump over the USD 23 billion revenues
for 2015, as per industry body Assocham. “India’s e-commerce
market was worth about USD 3.8 billion in 2009, it went up to USD 17
billion in 2014 and to USD 23 billion in 2015 and is expected to
touch whopping USD 38 billion mark by 2016,” Assocham said in a
statement.
Increasing
internet and mobile penetration, growing acceptability of online
payments and favourable demographics has provided the e-commerce
sector in India the unique opportunity to companies connect with
their customers, it said. There would be over a five to seven fold
increase in revenue generated through e-commerce as compared to last
year with all branded apparel, accessories, jewellery, gifts,
footwear are available at a cheaper rates and delivered at the
doorstep, it added.
It
noted that the the buying trends during 2016 will witness a
significant upward movement due to aggressive online discounts,
rising fuel price and wider and abundant choice will hit the
e-commerce industry in 2016. It observed mobile commerce (m-commerce)
is growing rapidly as a stable and secure supplement to the
e-commerce industry.
“Shopping
online through smart phones is proving to be a game changer, and
industry leaders believe that m-commerce could contribute up to 70
per cent of their total revenues,” the statement added. In India
roughly 60-65 per cent of the total e-commerce sales are being
generated by mobile devices and tablets, increased by 50 per cent
than the last year and also likely to continue upwards, it added.
It
noted that the browsing trends, which have broadly shifted from the
desktop to mobile devices in India, online shopping is also expected
to follow suit, as one out of three customers currently makes
transactions through mobiles in tier-1 and tier-2 cities. In 2015, 78
per cent of shopping queries were made through mobile devices,
compared to 46 per cent in 2013.
In
2015, the highest growth rate was seen in the apparel segment almost
69.5 per cent over last year, followed by electronic items by 62
percent, baby care products at 53 per cent, beauty and personal care
products at 52 per cent and home furnishings at 49 per cent. It
revealed that Mumbai ranks first in online shopping followed by
Delhi, Ahmedabad, Bangalore and Kolkata.
On
the mode of payment, almost 45 per cent of online shoppers reportedly
preferred cash on delivery mode of payment over credit cards (16 per
cent) and debit cards (21 per cent). Only 10 per cent opted for
internet banking and a scanty 7 per cent preferred cash cards, mobile
wallets, and other such modes of payment, it said. Among the above
age segments, 18-25 years of age group has been the fastest growing
age segment online with user growth being contributed by both male
and female segments.
The
survey revealed that 38 per cent of regular shoppers are in 18-25 age
group, 52 per cent in 26-35, 8 per cent in 36-45 and 2 per cent in
the age group of 45-60. Almost 65 per cent of online shoppers are
male as against 35 per cent female.
With Reference of : Yourstory