Factors like spiraling inflation and slower economic growth failed to dampen the online shopping trends of Indian consumers and have witnessed a significant change in 2013, recorded 85% rise in online trends over the regular shopping than last year (65%), revealed a research paper released by ASSOCHAM recently.
“The increasing internet penetration and availability of more payment options boosted the e-commerce industry in 2013. Besides electronics gadgets, categories like apparel and jewellery, home and kitchen appliances, lifestyle accessories like watches, books, beauty products and perfumes, baby products have witnessed a significant upward movement in last one year”, said D S Rawat, Secretary General ASSOCHAM. The coming year 2014, looks more promising for the online industry, Rawat added.
While releasing the ASSOCHAM paper on “Online Shopping – Review & Outlook in 2013” Rawat said, India’s e-commerce market was worth about $2.5 billion in 2009, it went up to $6.3 billion in 2011 and to $16 billion in 2013 and is expected to touch whopping $56 billion by 2023 which will be 6.5 per cent of the total retail market.
As per feedback received by 3,500 traders and organized retailers in Delhi, Mumbai, Chennai, Bangalore, Ahemdabad, Kolkata etc in this regard, the buying trends during 2013 have witnessed a significant upward movement due to aggressive online discounts, rising fuel price and wider and abundant choice etc. Read more