Online retail sales in India burgeoning, as reported by yStats.com
A new publication from Hamburg-based online commerce business firm yStats.com, "India B2C E-Commerce Market 2019," reports that digital retail sales in India are among the fastest growing in Asia.
By: yStats.com GmbH
Online retail sales in India projected grow through spread of Internet connectivity by smartphone
While online retail's share of total retail sales in India currently lags the percentages seen in mature markets, that share is projected to rise rapidly to a low double digit figure by the middle of the next decade. As this year began, less than half of the population of India could connect to the Internet, and connections were often sporadic. Projections cited in the yStats.com publication signal an Internet penetration rate of over 60% by 2026, with much of the growth attributed to smartphone expansion and increased connectivity in second-tier cities and rural areas. With this expansion, most online shopping in India will be done through smartphone.
Online merchants Amazon and Flipkart dominate digital retail in India
Global online sales giant Amazon led sales in India in 2018, but Flipkart was close behind, and forecasts included in the yStats.com report suggest that Walmart-owned Flipkart will be the leader within five years. Both companies are investing heavily in India in an effort to capture a greater online market share of online shoppers in the world's second most populous nation.
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