IAMAI has released industry figures that indicate robust growth in the online retail business in India estimating the number of online retailers as close-to 1 million as of date.
Subho Ray, President, IAMAI, said, "Nearly 1 million large and small retailers make use of online marketplaces to reach out to their customers in India today. These online retailers represent a very wide range of categories, including electronics, books, apparel, accessories, footwear and jewellery."
The Association has estimated that online retail accounted for US$12.6 billion (INR62,967 crore), showing a year-on-year CAGR of 34 per cent since 2009 and is expected to escalate further as policy and FDI issues are addressed and delivery logistics come of age.
The Association has identified key segment drivers such as apparel and jewellery brands which are marketing and selling their products increasingly through the online channel. IAMAI reports that increasingly OEMs have begun launching their products exclusively through online marketplaces and investing in their own brand marketing. This has led to market expansion, pricing competition which is leading to better products at cheaper prices for consumers.
