In­dia’s re­tail sales will cross $ 1.24 trn by 2018: Study

Shoes & Accessories - - The Month That Was | Updates I India -

The to­tal re­tail sales in In­dia will likely to in­crease from the $ 717.73 bil­lion dur­ing CY 2014 to touch $ 1,244.58 bil­lion by 2018 as it is grow­ing at a rate of about 15%, reg­is­ter­ing a dou­ble digit growth fig­ure year af­ter year, ac­cord­ing to an As­socham-resur­gent In­dia lat­est study.

In 2017, about 100 mil­lion con­sumers pur­chased on­line and the num­ber is ex­pected to cross 120 mil­lion by 2020 with the rise of dig­i­tal na­tives, bet­ter in­fra­struc­ture in terms of lo­gis­tics, broad­band and Internet-ready de­vices to fuel the de­mand in e-com­merce.

As per the find­ings of the joint study, Ban­ga­lore has left be­hind all other cities in In­dia shopping on­line in the year 2017. While Mumbai ranks sec­ond, Delhi ranks third in their pref­er­ence for on­line shopping, adds the study.

In other cities like Ban­ga­lore, its pop­u­la­tion chose to buy daily rou­tine prod­ucts through e-shopping which will go to 75% this year for ap­parel, gift ar­ti­cles, mag­a­zines, home tools, toys, jew­ellery, beauty prod­ucts and sport­ing goods cat­e­gories.

Like­wise, Mumbai’s share was 68% in the last year, which might go up an­other 72% in this year for elec­tronic gad­gets, ac­ces­sories, ap­parel, gifts, com­puter pe­riph­er­als, movies, ho­tel book­ing, home ap­pli­ances, movie tick­ets, health & fit­ness prod­ucts and ap­parel gift cer­tifi­cates etc whereas, Delhi, 65%% of its pop­u­la­tion chose to buy daily rou­tine prod­ucts through e-shopping in 2017-18, which will go to 68% by the year end.

In 2018, mo­bile com­merce will be­come more im­por­tant as most of the com­pa­nies are shift­ing to m-com­merce. Mo­bile al­ready ac­counts for 30-35% of e-com­merce sales, and its share will jump to 50% by 2020, adds the re­port.

On­line shopping has been em­braced by In­di­ans with close to 25-30 mil­lion adults mak­ing a pur­chase via the internet in the last year. The pa­per said, on­line shop­pers and buy­ers start­ing with a base age of 18 are be­come more in­volved with ecom­merce in their early teens, adds the pa­per.

There is a surge in the num­ber of peo­ple shopping on mo­bile across In­dia with tier II and III cities dis­play­ing in­creased dom­i­nance. In fact, 50% of our traf­fic is com­ing from mo­bile and a ma­jor­ity of them are first time cus­tomers, adds the pa­per.

The year 2018 will see large scale growth in the In­dian e-com­merce sec­tor with in­creased par­tic­i­pa­tion from peo­ple across the coun­try. This in­dus­try will con­tinue to drive more em­ploy­ment op­por­tu­ni­ties and con­trib­ute to­wards cre­at­ing more en­trepreneurs through the e-com­merce mar­ket­place model, noted the study.

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