The future of eCommerce websites in India – Statistics & Facts!

Posted March 25, 2019

eCommerce websites in India have come up a long way in the last decade. In this post we will be covering the statistics and facts supporting the statement. And how it has helped raise the Indian economy too.

eCommerce websites in India – Statistics

Statistics are a proof to the fact that India is the fastest-growing e-commerce markets as compared to other countries of the world. As is clearly visible from below graph, India will soon gain the top position for B2C e-commerce development. The compound annual growth rate of 19.9 in the projected period 2018-2022 further supports the fact.

The growth rate of eCommerce websites in India has witnessed 85% increase till date. Moreover. in the coming 10 years it is speculated to acquire 6.5% of the total retail market in India.
eCommerce websites in India have given wings to online shopping medium and has helped India in gaining position among top 10 favorite countries for eCommerce; voted by online buyers.
Demand of Ecommerce Development companies in India has increased exponentially as seen in the graph of projected increase in Retail e-commerce sales in India from 2016 to 2022. In 2016, the sale of items through eCommerce websites in India matched 16.07 billion U.S. dollars in revenues.

Owing to the great 4G and broadband services by mobile data service providers, majority of population goes online to search/buy products or services of their interest. This leads to almost 7.6 million people visiting eCommerce websites in India for offers and discounts. This in itself is a testimony for the growing love of Indians for eCommerce websites and online shopping.
The eCommerce market and online shopping sales in India is expected to touch US$ 200 billion by 2026.
Studies claim that the eCommerce websites in India contribute immensely towards making India the biggest B2C marketplace of Asia. This also leads to the fact that by 2020 India is going to be a pivotal point for startups, investors and entrepreneurial engagements.

Future of eCommerce Websites in India

As it is clear from the above statistics and facts, India eCommerce market has witnessed exponential growth in last one decade. And if the eCommerce SEO is done correctly then this number will be doubled in the coming decade.

However there are two major factors governing the future growth rate of eCommerce websites in India:

Macro-economic factors like inflation or deflation, public policies, GDP, internet accessibility, inflow of investments etc.
Segment specific factors like geographical, behavioral, interest, lifestyle, gender etc.

eCommerce websites were born to facilitate the buying and selling of a product or a service. The main idea behind eCommerce website development is to create a platform where the user can buy or sell a product without any hassle.

India has experience in experiencing rise in the purchasing power of people with the changing trends of economy. Moreover, the standard of living has gone up in the past few years and with it has gone up the requirement of buying more and more items.

Therefore, the Indian eCommerce sector grabbed this opportunity and served the online customers with many convenient options.

Due to which eCommerce websites in India and their popularity is increasing with every passing minute.

Number of Active Internet users in India is continually increasing

As per statistics; India comes second in position after China, for comparison in Number of internet users in the Asia Pacific region. As of January 2018 India has 460 million internet users. And by 2021 this number is expected to hit 635.8 million internet users in India.

The number of online consumers in India is also increasing day by day. In 2016 India had 69 million online consumers. While this number increased to above 100 million in 2017.

This clearly shows the love for eCommerce websites and the fondness of online shopping by Indian consumers. Therefore eCommerce websites in India have a very bright scope in future.

eCommerce Market Growth

The eCommerce market is expected to reach new heights with the rising trends of online shopping in India. Now a days more and more people are gaining interest and faith in online shopping. This has led an exponential increase in online shopping trends.

Initially only the urban areas were seen inclined towards eCommerce websites in India. But now with Digital India campaign even the smaller towns are gaining interest in the benefits of online shopping. Therefore the number of online customers will further increase in the coming years.

eCommerce Websites and Enterprises

eCommerce websites in India are influencing all the size and scales of industries, be it the micro, small or medium enterprises (MSME). They impact the industries by giving measures of financing, technology and training in a promising structure.

The growth rate of Indian eCommerce market is exceedingly great. Therefore, it is projected that eCommerce business in India will surpass the US eCommerce market by 2034.

Moreover technology advancements like:

sending and receiving payment digitally,
hyperlocal management of goods and services
calculated customer engagement and
digital advertisements

encourage eCommerce websites in India further.

Conclusion

The future of eCommerce websites in India will reach new heights by the year 2020. The current online buying trends point towards a boom in the eCommerce industry in India.

Therefore, now is the good time to invest well in an eCommerce website for a better and increased sales and revenue in future.