Indian e-commerce market to cross $100 bn by 2022: PwC-NASSCOM
today Sep 13, 2018
India’s e-commerce market will grow at 25 per cent over the next five years allowing the industry to exceed $100 billion value by 2022, according to a report by London-based PricewaterhouseCoopers (PwC) and India’s National Association of Software Services Companies (NASSCOM).
The e-commerce market in the country is valued at present at $35 billion.
E-tail and e-travel will continue to hold over 90 per cent share of e-commerce, while online financial services will witness the fastest growth, according to report titled ‘Propelling India Towards Global Leadership In E-commerce’.
Three out of four online customers are expected to come from tier II markets and beyond and a vast majority of them will be relatively less tech-savvy, seek greater transparency from a brand and prefer consuming content in local languages, a news agency reported citing the document.
According to Sandeep Ladda, partner, global TMT tax and India technology sector leader, PwC India, the next phase of growth in the sector would come from ensuring a seamless shopping experience, building digital trust, voice-based or conversational commerce and creating an inventory of localised content.
E-commerce companies have to focus on building loyalty, which will translate into repeat sales, said NASSCOM president Debjani Ghosh.
The consumption pattern of India’s middle class is expected to eventually supersede that of both the United States and China, the NASSCOM-PwC document added.
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