Economic Survey Results for 2017-18, which was tabled yesterday in the Parliament, declared that Indian ecommerce will become USD 33 billion market this fiscal year. Although this is a growth of 19 percent compared to last year, the market value is still very small compared to China, where USD 45 billion of shopping was done in a day during Single’s Day shopping festival.
However, this also means that there is tremendous possibilities, and opportunities for the digital entrepreneurs to tap into the market, and carve a niche for themselves.
Consultancy firm Redseer has come up with an interesting report, which complements the findings of the Economic Survey results, besides highlighting some issue which are affecting the growth of ecommerce in India.
E-shoppers Growth: 33 percent Per Month
As per the findings of the research by Redseer, in 2017, Indian e-shoppers grew by 33 percent per month, which is one of the highest growth rate ever recorded.
As per the findings, 2017 saw 20 million online shoppers, compared to 15 million a year back.
Deeper penetration into Tier2 and Tier3 reasons by major ecommerce portals have been attributed as a reason for this massive expansion. – Trak.in