According to the report by Admitad, the number of online buyers in India is expected to grow to 90 percent by 2021.
The revenue from e-commerce amounted to USD 25 billion in India in 2017, and is likely to grow by 20.2 percent per year to hit USD 52 billion by 2022, says a report.
According to a report by Admitad, in 2017, 37 percent of the population comprised of internet users, 14 percent of whom made online purchases regularly. This population’s share of internet users is expected to grow to 45 percent by 2021. The number of online buyers is expected to grow to 90 percent.
Most purchases (56 percent) are made via desktop. Smartphones account for 30 percent of purchases, said the digital and affiliate marketing company’s report.
However, with mobile penetration expected to reach 54 percent of the population by 2020, m-commerce has a high potential in India, and will likely be responsible for 70 percent of e-commerce revenue.
The report noted that about 57 percent of Indians prefer to pay on delivery, while 15 per cent prefer to pay with debit cards, and 11 percent credit cards.
“However, this is all likely to change in the near future. With a growing number of mobile users and the government encouraging citizens to use non-cash payment, there should be an increase in digital transactions in the coming decade,” it said.
Interestingly, India ranks second in the world for the number of internet and smartphone users, outpacing the US.
Meanwhile, China is the global leader in terms of number of internet users and online buyers. In 2017, the percentage of internet penetration rose to 53 percent. Even more, 42 percent of the population made online purchases regularly.
