Source: Business Standard, Aug 10, 2018
New Delhi: As India’s Internet penetration booms (390 million Internet users) thanks to rock bottom data prices ($0.17 per GB in 2017), the country’s online retail market is witnessing a massive surge.
According to a joint report by Bain and Company, Google and Omidyar Network, the country’s online retail market is a $50 billion opportunity waiting to be realised.
In 2017, online retail in India clocked $20 billion in sales. While this paled in comparison to the US ($459 billion) and China ($935 billion), India exhibited highest growth in online spending among major economies.Indian online shoppers spent an average of $224 in 2017, which was less than a tenth of what the average user spent online in the US at $2,237 in the same year.