India’s e-commerce sector attracted eight million shoppers over the course of 2012, but analysts from Google insist the best is still to come.
India’s e-commerce sector attracted eight million shoppers over the course of 2012, but analysts from Google insist the best is still to come.
Yourstory.in says the country’s online shopping sector is currently worth $10 billion (around £6.3 billion) to the country’s economy, though experts believe this can rise to $30-40 billion (around £19.1-25 billion) over the next three to four years.
Cited by warc.com, readings from Google Trends and market researchers TNS claim two categories make up the majority of these sales. The purchasing of consumer durables account for 34 per cent of all online transactions, with apparel and accessories gaining a 30 per cent share.
For businesses considering the roll out of online payment services to customers in India, other popular categories include books (15 per cent), beauty and personal care (10 per cent), home and furnishing (6 per cent), healthcare (3 per cent) and baby products (2 per cent).
Rajan Anandan, managing director at Google India, said of the categories: “We expect 2013 to be a strong growth year for players who’re focused on fast-growing categories like apparels and accessories.”
He added that growth should also boost sellers belonging to niche product categories “like baby products, home furnishings and health nutrition.”
Mr Anandan also hinted that newcomers can benefit from expanding to India as despite such a high level of growth, there are only 70 e-commerce companies in the country.
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