We know that India’s e-commerce industry is booming and lots of investment is flooding in , but how much are ordinary people actually spending online? According to new figures from the Indian commerce group ASSOCHAM , the nation’s e-shoppers spent $16 billion in 2013. That’s a rise of 88 percent from the $8.5 billion figure in 2012.
That’s strong growth, the group says in its new white paper, from the estimated $2.5 billion spent by Indian e-shoppers in 2009. It’s claimed that the expenditure could hit $56 billion by 2023. Here are the annual stats we have in chart form:
Hot in Mumbai
While the $16 billion figure seems small for a nation of over 1.2 billion, the e-shopping stat should be weighed up against its realistic, addressable market – the 150 million or more internet users that there are now in India.
There’s a lot more room for growth in India as more people come online and as the middle class grows. For example, China’s e-commerce expenditure will top an estimated $265 billion in 2013 thanks to the country’s half-billion-plus netizens.
Here are more factoids from the ASSOCHAM paper:
Top cities for e-shopping
This is based on the number of e-commerce users:
- Mumbai
- Delhi
- Kolkata
Young shoppers
- 35 percent of regular shoppers are in 18 to 25 age group
- 55 percent are 26 to 35
- 8 percent are 36 to 45
- 2 percent are 45 to 50
Source: TECHINASIA
