E-tailing set to grow in India
7 November 2014
ndia’s e-commerce industry has recorded massive growth during the last five years. The factors contributing to this growth include increasing number of internet users, growing acceptability of online payments, availability of a cash on delivery option and favourable demographics. Will India’s e-commerce industry continue its growth trajectory? Spire Research and Consulting conducted a research study on India’s e-tailing industry among 300 Indian retailors in the apparel, consumer electronics and food sectors. The findings of the study were further published on Asahi Shimbun’s Japanese website.
According to research findings, 91% of Indian companies in the apparel, consumer electronics and food sectors offer online shopping solutions to customers. The overwhelming take-up can be attributed to the introduction of online payment systems and developments in logistics infrastructure.
Over 54% of the online businesses reported a growth of more than 20% in sales revenue post increasing their presence online. Furthermore, the report shows businesses in the apparel (82%) and food industry (80%) benefitted the most by going online.
Needless to say, growth of the e-commerce industry relies highly on infrastructural development, inventory management and developing sufficient in-house logistics capabilities. Significant investments will be required to create an efficient logistics infrastructure to assist India’s e-commerce service providers.
There is still more scope for e-commerce to grow in India. 45% of the companies adopting e-commerce expect to see their businesses grow by between 20% and 50% by 2020.
Click here for the official coverage on Asahi Shimbun’s website.
For media enquiries, please contact:
Senior Executive, Group Corporate Communications
Spire Research and Consulting
Phone: (91) 124 646 5499