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Wed, Nov 14, 2018 | Last Updated 10:12 am IST

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Rapid growth in India over Online Shopping

Rapid growth in India over Online Shopping
Rapid growth in India over Online Shopping
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As per latest report India has the potential to generate e-commerce value of over $50 billion by driving awareness, usage and transactions among the current and next set of Internet users and shoppers. Meanwhile more than 500 million Indians will constitute the next wave of online consumers, according to a report jointly released by Bain & Company, Google and investment firm Omidyar Network.



Presently with an online buyer spending on an average $224 per year, e-commerce retail shopping in India is 10% of what Chinese spend, according to the report. Reports added that only 40% of India's 390 million Internet users transact online, said the report titled and it added "Unlocking Digital for Bharat: $50 Billion Opportunity". India on an average adds 40 million new Internet users per year to online transactions.

Rapid growth in India over Online Shopping

Arpan Sheth, Partner, Bain & Company and one of the authors of the report said in a statement "While online spends are still low given lower per capita incomes, there is huge potential to unlock value by addressing user concerns at various stages of the digital curve; however, the path won't be easy for businesses and they will have to innovate and be patient to monetize this user base and generate value". Furthermore of the 390 million Internet users, 80% are from affluent socioeconomic segments and penetration among lower income segments is only 13%, the findings showed.

Rapid growth in India over Online Shopping

Rapid growth in India over Online Shopping
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Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.