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.