Digital commerce marketplace in India set to cross 50 billion usd mark; heres why
According to a new study, the digital commerce market in the country is expected to cross USD 50 billion in value by the end of 2018.
It is said to be hovering around USD 38.5 billion right now and the surge is expected to be on the back of sustainable and growing internet population and increased online shoppers.
This very market in India was nearing USD 19.7 billion in 2015 and was at USD 13.6 billion in 2014.
The findings are according to the joint study conducted by Assocham and Deloitte.
The increasing mobile and internet penetration, m-commerce sales, advanced shipping and payment options, exciting discounts, and the push into new international markets by e-businesses are the major drivers of this unprecedented growth, it said.
Banks and other players in the e-commerce ecosystem are providing a secured online platform to pay effortlessly via payment gateways.
However, it pointed out that the Indian e-commerce sector is heavily dependent on the cash on delivery (CoD) mode of payment as it is the most preferred choice for Indian consumers due to lack of trust in online transactions, limited adoption of credit and debit cards, and security concerns, among others. >