As per it, Bangalore has left behind all other cities with regard to online shopping in the year 2017.
The total retail sales in India is likely to increase from $717.73 billion during calendar year (CY) 2014 to touch $1,244.58 billion by 2018, growing at an impressive rate of about 15 per cent and registering a double digit growth figure year after year, according to a latest study by Assocham-Resurgent India.
In 2017, about 100 million consumers made purchases online and the number is expected to cross 120 million by 2020 with the rise of digital natives, better infrastructure in terms of logistics, broadband and internet-ready devices to fuel the demand in e-Commerce.
As per the findings of the joint study, Bangalore has left behind all other cities with regard to online shopping in the year 2017. While Mumbai ranks second, Delhi ranks third in their preference for online shopping, observed the study.
In Bangalore, 75 per cent of the total population are likely to buy daily routine products through e-shopping, like apparel, gift articles, magazines, home tools, toys, jewellery, beauty products & sporting goods.
Likewise, Mumbai population share was 68 per cent last year, which might further go up to 72 per cent this year.
In Delhi, 65 per cent of its population chose to buy daily routine products through e-shopping in 2017-18, which will go to 68 per cent by the year end.
In 2018, mobile commerce will become more important as most of the companies are shifting to m-commerce. Mobile already accounts for 30-35 per cent of e-commerce sales, and its share will jump to 50 per cent by 2020, adds the report.
E-commerce is a big business and getting bigger every day. Online shopping has been embraced by Indians with close to 25-30 million adults making purchase via internet mode last year.
The report said online shoppers starting with a base age of 18 are more involved with e-commerce.
There is a surge in the number of people shopping on mobile across India with tier II and III cities. In fact, 50 per cent of our traffic is coming from mobile and a majority of them are first time customers, adds the report.
The year 2018 will see large scale growth in the Indian e-commerce sector with increased participation from people across the country. This industry will continue to drive more employment opportunities and contribute towards creating more entrepreneurs through the e-commerce marketplace model, noted the study.