Traditional retailers have staked their futures on omnichannel retailing. The omnichannel strategy hinges on the idea that providing a seamless shopping experience in brick-and-mortar stores and through a variety of digital channels not only differentiates retailers from their peers but also gives them a competitive edge over …
Online sales in India is expected to touch $17.52 billion by 2018. It is about 3% of the US non-store retailers sales ($560 billion). What is interesting about this number is the potential and the growth rate.
In the US, the nonstore retailers are growing at the rate of 13.2 %. Mobile commerce in Indian market is estimated to grow at 45-50% in 2017. Currently, online sales in India is dominated only in the metros. As of 2015, smartphone users in India was at 220 million, growing at 23%. It is predicted that by 2017 India will overtake the US as the second largest market for smartphones, after China. Mr. Nitin Gadkari, Minister of Road Transport and Highways, and Shipping announced in January 2017 that the Government of India will be investing US$75.30 billion for the road, railway and port connectivity projects. With better infrastructure and continued smartphone adoption, one can expect online shopping in India to grow at the current rate if not better.
The number of consumers who purchase online is expected to cross 100 million by end of 2017, with e-retail market likely to jump 65% year on year in 2018, a recent research study reveals.
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