Internet giant Google said India’s E-commerce
market will hit $15 billion by 2016 with a whopping 100 million people going
online.
Increasing Internet penetration and
growing preference for shopping online will drive the market from the 35
million people buying everything from apparel to electronics to cosmetics and
furniture from online stores now.
This number is expected to grow almost
three times to 100 million in the next two years. India is estimated to have
302 million Internet users by December 2014, overtaking the US as the world's
second largest online user-base.
India's e-tailing market is at an
inflection point and will see rapid growth to become a $15 billion market by
2016. According to analysts, the
e-commerce market in India is currently estimated to be worth about $3 billion.
Of the 100 million online shoppers,
about 40 million are expected to be women. Already, women buyers in tier I
cities are driving growth, outspending men by 2X.
They are shopping across categories like
apparel, beauty and skincare, home furnishing, baby products and jewellery.
Also, over two-thirds respondents highlighted that they preferred shopping
online for convenience and variety along with discounts.
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