India’s e-commerce market to touch US $33 billion

India’s retail e-commerce market is expected to soar 31 percent to touch US $32.70 billion during the current financial year, according to eMarketer’s latest forecast
India’s e-commerce market to touch US $33 billion, eMarketer report - DR

The e-commerce growth in India will be led by market leaders like Flipkart, Amazon and Paytm Mall who are entering new segments for future growth.
India’s rising internet and smartphone use driven by millennials and the burgeoning middle class market have resulted in a surge in number of digital buyers.
India’s 25 percent population is expected to go digital by end of this year and that number is further set to increase to 42 percent by the year 2020.
A quarter of the population is expected to be digital shoppers this year. By 2022, this share will rise to 41.6 percent in which India’s e-commerce sector will be worth US $71.94 billion, the report added.
“E-commerce is booming in India thanks to increased Internet users and cheaper smartphones,” in a statement said Eric Haggstrom, Forecasting Analyst at eMarketer.
Haggstrom added, “In tandem with this shift to online and mobile usage, Flipkart, Amazon and Paytm Mall have been competing fiercely to claim their share of the Indian market. All three of these companies are making large investments, which include improved logistics and payment systems, as well as offering deep discounts, which will fuel future growth in the market.”

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