Latest trends from the Indian digital economy!
With growing share of internet and every increasing number of online shoppers Indian digital economy has great future ahead.BY Indian Retailer Bureau | Jan 03, 2018 | comments ( 0 ) |
Indian government is striving hard to push Indian digital economy to $1 trillion in the next 5-7 years. As per industry data India has emerged as the 3rd biggest startup movement in the world and the best young brains are now creating jobs through digital world. These start-ups are contributing huge in digital economy. It would not be an exaggeration to state that exponential growth in e-retail is the ripple effect of growing share of digital economy. But with ever increasing online penetration there are many other industries with are experiencing rise due to digital effect. Let’s shed light on few growing trends in the digital world.
E-tailing: The number of online shoppers in India is expected to double by 2020
Number of Online Shoppers In India (Millions)
The number of online shoppers in India is expected to grow at a CAGR of 27% thus doubling its size by 2020. Around 55% of these shoppers in 2020 would be from T1 and T2+ cities.
Online Mobility: The industry sees increase in cab supply in Q3CY’17
Registered Cab Supply with Online Cab Aggregators (Millions)
In Q3'17, the cab industry made a push towards increasing supply by on-boarding new drivers and further promoting their lease model, which helped the players have a permanent supply to meet the demand on a day-to-day basis.
Hotel Aggregators: The industry moves aggressively to mass media channels to increase consumer adoption
Consumer Source of Awareness
The online hotel aggregators invested in traditional marketing tools like tv ads and banners in Q3CY'17; which resulted in an increase in the consumer awareness from these sources. The traditional media is expected to help the players reachout to a wider audience and improve their recall.
(Infrographic Source: Redseer )
Do consumers today prefer
In the last four years online shopping has grown by eight times taking the number to whooping 90
- Food & Grocery
How digital literacy can
Amid the hullabaloo about going online and digital transaction in the retail ecosystem, there is
Ecommerce likely to grow
The ecommerce sector would grow at a rate of 10-15 per cent annually, higher than the GDP growth
K Raheja Group plans to
K Raheja Group, which owns Shoppers Stop and Hypercity Retail has planned to invest around 525 crore
Can eCommerce ever become
Despite of market vouching for the potential of eCommerce, heavily backed by the rising base of