India’s e-commerce market rose 88% in 2013: Survey
As per the survey, India’s e-commerce market grew by 88% in 2013 to $16 billion. The increased internet penetration and availability of more payment options boosted the e-commerce industry in 2013. The survey was conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Highlights of the survey conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM)
- Approximately 3,500 dealers and organized retailers participated from Delhi, Mumbai, Chennai, Bangalore, Ahmedabad and Kolkata. Mumbai topped the list of online shoppers followed by Delhi and Kolkata.
- As per the age-wise analysis, 35% of online shoppers are aged between18-25 years, 55 % between 26-35 years, 8 % between 36-45 years, while only 2 % are in the age group of 45-60 years. In addition, 65 % of online shoppers are male while 35 % are female.
- The online shopping arose at a rapid pace in 2013, owing to online discounts, high fuel prices and availability of abundant online options.
- The products that are sold most are in the tech and fashion category, viz. mobile phones, I-pads, accessories, MP3 players, digital cameras, jwellery, etc.
- Those who are unwilling to shop online quoted reasons viz. prefer research products and services online, find delivery cost too high, fear to share personal financial information online, lack of trust on whether products would be delivered in good condition , people have no credit or debit card facility, etc.
- As per the rising online retail, the survey forecasts the country’s e-commerce market to reach $56 billion by 2023.
About the Associated Chambers of Commerce and Industry of India (ASSOCHAM)
- Represents the interests of trade and commerce in India, and acts as an interface between industry, government and other relevant stakeholders on policy issues and initiatives.
- Founded: 1920
- Headquarters : New Delhi, India
- President: Dr. Rana Kapoor
Aim: To promote both domestic and international trade, and reduce trade barriers while fostering conducive environment for the growth of trade and industry of India.
Categories: Business & Economy Current Affairs 2017