Reality check: your customers are shopping online — and you need to be there too. While brick and mortar businesses will continue to sustain, the Indian e-commerce industry has been on a steep upward growth journey as more and more consumers are attracted towards the ease of shopping online from the comforts of their homes. And while setting up your online business may seem difficult, there are plenty of platforms that help you start your ecommerce journey easily, and you don’t need to know how to code or be extremely tech savvy to operate it on your own. These ecommerce website builders provide all the tools and features you need to run an online business successfully, including delivery and payment partners that make the entire process seamless and super easy. Some, like MyEasyStore.in, charge 0% commissions on orders. An online business also has its own set of benefits—it involves a lot less investment, anyone from anywhere can buy your products, increasing your target audience, and you too, can work from anywhere. If you still need convincing to go online, here are some facts and numbers that prove that e-commerce is the future of business in India.
- The Indian e-commerce industry is expected to surpass the US to become the second-largest e-commerce market in the world by 2034.
- India’s e-commerce market is expected to reach US$ 111 billion by 2024 and US$ 200 billion by 2026.
- When it comes to market share, groceries and fashion and apparel are the most-performing sectors in e-commerce, closely followed by consumer electronics, projected to experience a growth of up to 8% by the year 2025.
- Reports also suggest that online retail sales are expected to rise to 31% in India.
- With the rise of smart device users and internet connectivity in remote areas, the number of online shoppers in India is expected to go beyond 350 million over the next five years.
- The e-commerce industry in India has reached a growth rate of 85%, proof that customers want to, and prefer shopping online whenever possible.
- As of 2020, the average annual e-commerce revenue is around $338 per user.
- Through its Digital India campaign, the Government of India is aiming to create a trillion-dollar online economy by 2025.
- India is also one of the top 10 countries in the list of e-commerce chosen by online buyers.
- According to Statista, over 2 billion people across the world are digital buyers.