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Research: E-commerce revenue will shoot up to Rs. 8 Lakh Crores in 2020
Posted on: 11/May/2016 9:41:08 AM
It has been estimated that the business segment of e-commerce in India will earn a revenue of Rs, 8 Lakh Crores by the year 2020.
In the last financial year, the e-commerce segment of business earned Rs. 2 Lakh Crores.
In a research conducted by ASSOCHAM-Forester, this e-commerce business growth of Rs. 8 Lakh Crores by the year 2020 has been attributed to the growing young generation, increased usage of the internet, and the economic growth of the country.
As the base unit of Indian e-commerce market is rather low, the ratio of growth is high as compared to countries like Japan and China.
The growth of e-commerce in India stands at 51 percent per year. As compared to this, the corresponding figure for China is 18 percent per year and for Japan, it is 11 percent and in South Korea, it is 10 percent.
Currently, there are 40 crore internet users in India. In Brazil, there are 21 crore internet users. In Russia, there are 13 crore internet users.About 75 percent of internet users in India are in the age group 15-34.
Out of the total e-commerce business, around 60 percent to 65 percent business is done through smart phones.
Branded cloth items, jewellery, footwear, electronic gadgets are among the most traded items in e-commerce.
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