SAN FRANCISCO (Diya TV) – While Indian residents use the internet far less than other countries with a similar economic climate, the South Asian nation’s e-commerce sector tripled in growth, or grew by 209 percent over the last five years, from $4.4 billion in 2010 to $13.6 billion in 2014.
Furthermore, India’s e-commerce market is expected to continue to grow – the sector is anticipated to reach $38 billion in 2016, according to a Associated Chambers of Commerce & Industry of India report released in January of this year.
E-commerce has totally changed the shopping landscape as we know it, and it is showing no signs of slowing down. Are you contemplating opening an online store? If so subscribing to a platform such as Shopify has a wide variety of benefits. To find out more, why not take a look at some shopify reviews. These are exciting times for online retail, and the future, for now, seems highly positive.
India’s online retail sector is expected to evolve into a $1 trillion per year market by 2020, according to recent reports from Deloitte and the Confederation of Indian Industry. The reports also opine that the continued growth will promote more innovation in the country. Internet penetration is growing across the nation, with as many as 354 million daily users reported across the country as of September of last year and the number of online shoppers in the country has increased 95 percent over the last three years, so it may be a wise idea for those looking to create an eCommerce site with the help of such services like sitebeginner.com to have the target audience be Indian consumers. With the increase in online shoppers, services such as hostiserver.com are also growing to help Indians host and maintain their own e-commerce business.
However, the percentage of Indians who use the internet is low, just 19 percent in 2014, according to a report from IndiaSpend. Compared with neighboring nations such as Australia (90 percent), U.S. (87 percent), Japan (86 percent), Brazil (53 percent) and China (46 percent), that’s a dramatically low figure. During the same year the report was published, IndiaSpend found that only 18 of 100 Indians used the internet.
Instead of computers, Indians have been turning to their smartphones – the same report found 74 of 100 Indians have mobile subscriptions with internet on their devices. Spending on mobile devices increased from 54 percent to 64 percent from 2014 to 2015, attributed to India having the world’s lowest prices for 3G and 4G internet connectivity.
Despite the victory in that category, speed remains a major issue for subscribers.The average broadband speed in India is 2 mega bits per second, ranking 115th globally, IndiaSpend reported. Compare that to the speeds in the U.S., such as the up to 1000 mega bits per second offered in the at&t bundles, and you see how slow it is. Similarly, the average mobile internet speed is 1.7 mbps, ranking below Thailand, China, Hong Kong and Singapore.
