Home / Knowledge / News / Apparel/Garments / Indian ecommerce market to touch $60-70 bn by 2020: Report
Indian ecommerce market to touch $60-70 bn by 2020: Report
14
Feb '15
Driven by faster growth in goods than services, ecommerce market in India is expected to quadruple to $60-70 billion over the next 5 years, according to a recent report.
 
The report titled ‘Retail 2020: Retrospect, Reinvent and Rewrite’ jointly prepared by the Boston Consulting Group and the Retailers Association of India was released during the Retail Leadership Summit 2015 held in Mumbai this week.
 
The report says the number of Internet users in India is expected to increase 3 times from around 200 million in 2014 to around 600 million by 2020. Likewise, proliferation of smartphones will also increase from 120-140 million in 2014 to 600-700 million in 2020.
 
The increase in the number of Internet and smartphone users will be due to lower cost of connectivity and improved quality; and expanded reach in lower tier cities and rural areas due to investments in network infrastructure.
 
According to the report, customers will get attracted to ecommerce because of superior value proposition on several counts—broader assortment, higher discounts, and greater convenience.
 
Further, ecommerce growth will also be aided by efforts of players to develop payment channels (cash on delivery, mobile wallets) and streamlined logistics infrastructure.
 
The report suggests that India retailers should proactively conceptualise and execute a digital strategy with clarity on why shoppers purchase online. The retailers are also advised to smartly leverage social media to drive word of mouth, and design a seamless and connected customer journey as shoppers migrate across channels. (RKS)
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Apparel/Garments | On 23rd Apr 2018

Transparency helps in swiftly alerting brands

Disclosing key supplier, supply chain and operational information...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search