The e-commerce industry in India is expected to grow at a compound annual growth rate of 57 per cent and is likely to reach USD 34.2 billion by 2015. At the same time, by 2015, the number of mobile users in the country is expected to reach the 1200 million mark.
Homeshop18.com CEO Sundeep Malhotra said,”It is estimated, that around 27 million (in India) are active mobile internet users. Currently 4 per cent are buying products through mobiles and in next four years time, it can go up to 20 per cent.”
Recently, on December 12, an industry wide initiative was carried out to boost online sales. This Great Online Shopping Festival, organised by Google India, saw participation from over 50 leading eCommerce companies in India, which included shopping.indiatimes.com, jabong.com, zovi, myntra, makemytrip, Gili. During this 24-hour online event, internet users could log on and get deals from over 50 partners across e-commerce, local and classified, online travel sites and BFSI (banking, financial services and insurance) industries. Most of the participants saw a huge surge in terms of traffic, new visitors and sales.
Commenting on this growth in online activity, Sundeep Malhotra, CEO Homeshop18.com said,”The significant growth in online activity in India reflects that the evolving nature of the market and the Indian consumer. Opportunity in e-commerce are huge because of a large population base, changing consumer lifestyle and lack of infrastructure for bigger brick and mortar stores. With more than hundreds of websites currently operating in the sphere and many more to join the space, it is obvious that e-commerce is going to be a game changer in India.”