Helped by fast increasing data consumption and improvement in logistics, over 120 million Indian consumers are expected to shop online, clocking annualized growth of 115 per cent in 2018 as the e-commerce platforms slug it out with discounts and other attractive deals in a wide range of products from clothes, mobile phones, air-conditioners to a whole lot of consumer items, according to ASSOCHAM-Resurgent joint study.
As many as 108 million consumers did online shopping in 2017 even as the mobile phones are becoming the preferred choice of device for the e-commerce sales. Over 60-65 per cent of online shoppers would opt for placing their orders on mobile phones from the present 40-45 per cent, the study projected. As many as 89 per cent of the consumers covered in the study are heavy users of the Internet. The respondents were across Delhi, Mumbai, Kolkata, Bangalore, Ahmedabad, Hyderabad, Pune & others.
In 2017, popular categories accounted for higher consumer spend online. The frequency of purchase was also higher for categories like apparels & accessories (54%), beauty & personal care (43%) products in comparison to electronics (33%), adds the report.
"Since the base is still quite low, there is a huge scope for growth year on year for quite some time. With improvement in logistics and more and more delivery channels, the online shopping is bound to grow. No wonder, a huge amount of foreign investment is coming in the sector. It has become a multi-billion investment business. Investment in back end delivery channels, brand building, consumer research and building trade partners would be the key drivers," said ASSOCHAM Secretary General Mr D S Rawat.