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:
- 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
The paper also revealed the top 10 online stores in the country, which are a mix of conventional e-commerce, food, and online coupons. But ASSOCHAM doesn’t specify if this is judged by user-base or revenue, so it’s best taken with a pinch of salt for now.
- eBay India
- Amazon India
(Editing by Terence Lee)