eCommerce has taken the world by storm. According to a latest report generated by Gartner, India's eCommerce market is expected to reach $6 billion by 2015, a 70-per cent increase over 2014 revenue of $3.5 billion.
"Digital commerce is at a nascent stage in India. However, India is one of the fastest-growing eCommerce markets in Asia-Pacific. India represents a $3.5-billion market, growing at approximately 60-70 per cent every year. It represents less than 4 per cent of the total retail market. B2C eCommerce leads the market in India, while B2B is limited to organizations that drive online channels to integrate with their partners and distributors," said Praveen Sengar, Research Director, Gartner.
Convenience, 24*7 customer service, price point, robust online payment facility and a wide spectrum of products to choose from are just a few reasons for consumer's increasing interest in online shopping. Availability of products being just a click away with high-speed delivery services has helped consumers shift from brick-n-mortar to online channel. Also, smartphone penetration has enabled consumers to do fast transactions, irrespective of place through various apps and mobile responsive sites. This revolution has also helped brands amplify their reach in the regions where they don’t have physical presence in the form of retail outlets and stores. The report further suggests that almost thirty per cent of the traffic for eCommerce sites comes from mobile and tablets.
