Indian e-commerce is estimated to reach Rs 211,005 Crores ($ 31 billion ) this year, having grown at a 30 percent compounded annual growth rate between 2010 and 2015, according to IMRB’s I-CubeTM report.
Online retail spending grew 57 percent year-on-year in 2015, to a total of Rs 37,689 crores ($5.6 billion), making it the largest e-commerce sector after travel. Sales of mobile phones and accessories, PCs, apparel and footwear dominated retail e-commerce.
In addition, online matrimonial sites and classifieds are growing rapidly, expected to reach Rs 4,277 crores ($640 million) in 2016, up from only 896 crores ($134 million) in just two years. Ticket booking and online grocery shopping are also growing steadily, and more people are paying their utilities bills online.
E-commerce shoppers typically are affluent, young – 16-to-34 years old – and almost two-thirds are male. The predominant mode of payment is cash on delivery; over three quarters of online shoppers prefer to pay COD compared with only 10 percent who prefer debit cards and 7 percent who would use a credit card.
Among people who go online to look for information, apparel is the most-searched category. And of the 48 percent of shoppers who have looked for apparel information online, 18 percent say they made purchases offline. The other categories people most search for online include: footwear (40 percent), mobile phones and accessories (34 percent).