Digital commerce on rise in India |
More and more people are buying products and services online in India and the digital commerce market in India could grow about 33 per cent to over Rs 100,000 crore or US$ 17 billion by the end of 2015. A credible report has said the market was valued at Rs 81,525 crore at the end of December 2014. It has grown steadily from Rs 26,263 crore in 2010 to Rs 47,349 crore in 2012, to Rs 53,301 crore in 2013. Travel transactions have proved to be the primary fueling factor of the industry, accounting for Rs 50,050 crore or over 61 per cent of the digital commerce pie. Of the non-travel transactions, e-tailing accounts for 76 per cent share, followed by financial services 14 per cent, matrimony & classifieds 3 per cent. The report said Cash-on-delivery (COD) is one of the key growth drivers for the growth of online retail and is estimated to account nearly 50 per cent online retail sales. There are 232 million Internet users in the country who access the internet at least once a month. Out of these, there are 66.7 million Internet users who have actually bought any product/service over the Internet. Additionally, there are 9.6 million Internet users who have researched for information on products and services online but have not bought anything. Converting this segment of users from non-shoppers to online shoppers will increase the market size of Digital Commerce in India.
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