The revenue from e-commerce amounted to USD 25 billion in India in 2017, and is likely to grow by 20.2 per cent per year to hit USD 52 billion by 2022, says a report
The revenue from e-commerce amounted to USD 25 billion in India in 2017, and is likely to grow by 20.2 per cent per year to hit USD 52 billion by 2022, says a report. According to a report by Admitad, in 2017, 37 per cent of the population comprised of internet users, 14 per cent of whom made online purchases regularly. This population’s share of internet users is expected to grow to 45 per cent by 2021. The number of online buyers is expected to grow to 90 per cent. Most purchases (56 per cent) are made via desktop. Smartphones account for 30 per cent of purchases, said the digital and affiliate marketing company’s report.
However, with mobile penetration expected to reach 54 per cent of the population by 2020, m-commerce has a high potential in India, and will likely be responsible for 70 per cent of e-commerce revenue. The report noted that about 57 per cent of Indians prefer to pay on delivery, while 15 per cent prefer to pay with debit cards, and 11 per cent credit cards. “However, this is all likely to change in the near future. With a growing number of mobile users and the government encouraging citizens to use non-cash payment, there should be an increase in digital transactions in the coming decade,” it said.
Interestingly, India ranks second in the world for the number of internet and smartphone users, outpacing the US. Meanwhile, China is the global leader in terms of a number of internet users and online buyers. In 2017, the percentage of internet penetration rose to 53 per cent. Even more, 42 per cent of the population made online purchases regularly.