The festival season has triggered a tremendous rise in online shopping and it is estimated to grow by a whopping 350 per cent, crossing Rs. 10,000 crore, according to an Assocham survey. In the same period last year, there was a growth of 200 per cent and this quantum jump in online sale will have a telling impact on shopping malls across the country.
Currently, the market in India is estimated at Rs. 12,000 crore and is expected to cross Rs. 1,00,000 crore annually, over the next three to four years, says the Assocham status paper. Its recent survey on ‘Indian Online Retail Sales surge in festive season’ has shown a five-fold increase in e-commerce revenues with branded apparel, accessories, jewellery, gifts and footwear being made available cheaper and delivered at the doorstep of the consumer.
Releasing the paper, Assocham Secretary-General D.S. Rawat said a “whole new audience is connected 24 X 7 through smart phones, tablets and other mobile devices, leading to the evolution of e-commerce into mobile commerce. He quoted the report and said consumers were becoming Internet savvy, given the ease and speed of payment and quick delivery.
“This season, shopping on the ground has taken a back seat,” he said.
