If the Internet is anything to go by, India's technological and economic growth has moved into the top gear.With more India's online shopping registering a phenomenal 100 per cent annual growth, many retail chains and consumer durable companies are joining the Web bandwagon to tap the eshopping market.
"The online shopping industry in India is fast catching on, not just in the larger metros but also in the smaller cities. At present the market is estimated atRs.46,000 crore and is growing at 100 per cent per year," Ajit Chauhan, managing director, Synergy Promotions and Marketing Services, said.
According to Google, India has more than 100 million Internet users, out of which around half opt for online purchases and the number is growing every year. With such a large market size, companies, right from retail shops to consumer goods, are entering the Web space to attract potential customers.
Even traditional retailers like Shoppers Stop, Westside and Pantaloons are looking at the online shopping space for growth.
According to the Associated Chambers of Commerce and Industry of India (Assocham), the size of the online retail industry is expected to touchRs.7,000 crore by 2015, up fromRs.2,000 crore now, at an annual growth rate of 35 per cent.
According to industry leaders, portals offering daily deals and discount offers with good delivery services attract the largest number of online shoppers.
"The companies that provide daily deals or discount offers are doing brisk business. People are looking for value shopping that saves their money as well as time.
2 comments:
I do agree with you. With various talks about recession, irrespective of what is the status of the economy, there is one thing on which you can always depend and that is online shopping.
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