Assocham survey pegs e-com industry at around Rs 2,51,720 cr

It’s boom time for India’s e-commerce market. Assocham has released new data which states that the industry will be worth 38 billion dollars (Rs 2,51,720 crores) by 2016, which will be a 67 per cent jump over the 23 billion dollars (Rs 1,52,357 crores) revenues for 2015. In 2009, the e-commerce market was worth 3.8 billion dollars (Rs 25,172 crores), in 2014, it went up to 17 billion (Rs 1,126,11 crores) dollars and in 2015, it was 23 billion dollars (Rs 1,52,357 crores).

Various factors have given e-commerce a push in India. Increasing internet and mobile reach, growing acceptability of online payments and favourable demographics are some of the factors. The Assocham report states that there would be more than five to seven fold increase in revenue made from e-commerce in the coming years because of all products available at a cheaper price and delivered at the doorstep. The buying trends in 2016 will witness a significant upward movement because of aggressive discounts and wider choices available. At the same time mobile commerce (m-commerce) has been growing steadily and is a secure supplement to the e-commerce industry. Shopping through smartphones is proving to be a game changer, and industry leaders believe that it could contribute up to 70 per cent of the total revenues.

In India, approximately 60-65 per cent of the total e-commerce is being generated through mobiles and tablets, an increase by 50 per cent which will continue to grow in the coming years. In 2015, 78 per cent of shopping queries were made through mobile devices while in 2013 it was 46 per cent.

Mumbai tops in online shopping followed by Delhi, Ahmedabad, Bangalore and Kolkata, as revealed in the Assocham survey.