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| Financial growth through online shopping |
India online shopping websites to cross Rs 1 lakh Cr in 2015; Online Food products delivery quickly growing & Travel the biggest opportunity.
As per the recent IAMAI report on the state of Indian online
shopping or E-commerce industry, it was announced that with 61% share, travel agency and industry is still the large segment. Online food products delivery opening grew 40% in the last 1 year, which makes it the quickly growing segment of the Indian e-com market.
shopping or E-commerce industry, it was announced that with 61% share, travel agency and industry is still the large segment. Online food products delivery opening grew 40% in the last 1 year, which makes it the quickly growing segment of the Indian e-com market.
The report was fixed by IAMAI in association with IMRB International.
Overall, transactions worth Rs 81525 cr. happened in 2014, which is 53% more compared to year of 2013. The report approximate that the industry will be grow at the rate of 33% in the next 1 year, which creates the overall market to be valued at Rs 1,08,428 crore by the time 2015 ends.
Breakdown of ecommerce market tailing
Surrounded by the present upwards of Indian shopping websites, online travel segment still take the largest pie with 61% of market share or Rs 49,730 crore. Ecommerce-tailing which affects buying and selling or consumer products online increased their share to 29% or Rs 23642 crore. Overall, e-tailing grew 1.4 times compared to 2013.
Here is a breakdown of the e-tailing segment in 2013:
- Mobile and their accessories: 41% or Rs 9936 crore
- Apparels that is men, women and kids clothes, Footwear and Personal care items: 20% of Rs 4699 crore
- Consumer durables and Kitchen durables: 14% or Rs 3404 crore
- Laptops, Notebooks and Tablets: 11.75% or Rs 2780 crore
- Home furnishing: 4.4% or Rs 1059 crore
- Books: 2.7% or Rs 648 crore
The report mentions that online food products delivery and applications positions grew at 40%, which makes it the fastest growing market as of now. In 2014, Rs 350 crore worth of food were delivered online.
Mode of payment
Cash on Delivery (COD) still rules the mode of payment used by online buyers, as it resulted in 45% of all payments in 2014. Debit Cards came at second position with 21% share, followed by 16% by Credit Cards; Internet Banking at 10%.
We can see that the best method for online shopping is cash on delivery method.
Mobile wallets, which have seen a growth of activity in the last few months, rewarded in 8% of all payments. Previous year we had reported that 20% of all payments are being done on mobile devices. Hence, with 8% share of mobile wallets in the overall online payments, it means that the niche is also growing rapidly. Reportedly, there are 300 million Internet users in India right now, and by end of 2016, 500 million marks would be breached.
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