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STUDY: ONLINE SHOPPING ON THE RISE - TO GROW BY 78% IN INDIA, IN 2016 On the back of attractive discounts and the growth of Internet-ready devices, online shopping in India is set to grow by 78 percent this year.
New Delhi, India — 01/06/2016 — As e-commerce rates rise worldwide, more and more Indians are searching for sources of coupons they can apply to online purchases. By most estimates, India’s total retail market is expected to more than double by 2020, with the ecommerce industry in particular projected to grow to 100 million consumers and a value of 15 billion by 2017.
The number of internet users in India is also on the rise, with the current number of 230 million users expected to exceed 600 million within three years. This means that a large portion of our population is still not using the internet; and efforts need to be made by the government and the startup and internet eco-system in India, to promote internet penetration and usage. A recent study undertaken jointly by Yahoo and Mindshare analyses the shopping behavior of customers to reveal that 31 per cent shoppers opt for online shopping in order to save the time and effort that might be spent on physically going to stores to buy the same products. About 28 per cent customers are driven to buy online due to the availability of discounts and promotions while the convenience to shop anywhere, anytime attracts the remaining 21 per cent, it said. The study also highlights how more and more customers are taking to mobile phones to make online purchases as compared to other electronic devices.