The e-commerce industry has boomed in a huge way in last decade or so, and presently, researchers and industry experts can easily predict that India is going to be one of the major hubs for establishing successful e-commerce business in near future. There are some facts & figures which very specifically go towards highlighting lucrativeness of the e-commerce industry in India. A new report says that the Indian e-commerce market is all set to grow at 36% yearly in 2015-20!
There are some very specific underlying factors which highlight this trend. – A greater cross-section of young Indian buyers now has more of disposable income,
– And this is coupled with a growing young Indian population.
– The young Indian buyer is the kind which now finds lesser time to go to brick and mortar stores to make a purchase. Correspondingly, this augurs well for online shopping to thrive as an industry.
– Another trend which backs the growth of the e-commerce industry in India is an increasing base of Smartphone users, and high frequency of Smartphone users making a purchase online.
– Along with this, owing to the high competition, offers and discounts provided by the e-commerce brands are also all set to fuel the growth of e-commerce industry in India at an astonishing rate of 36% per year.
– This is also combined with a higher percentage of high-speed internet users in India, which simply allows companies to provide a greater array of services online.
– Alternately, the Indian consumer now has more faith in online shopping, owing to the recently improved payment structure, which ensures both, safety and ease. So more and more consumers are shifting towards shopping online.
– And nowadays, we find newer industries venturing into the e-commerce field, a trend which was earlier unheard of. While consumer electronics and apparel were very often sold online, nowadays we even find groceries sold online.