11 February, 2016, Mumbai: According to a report, ecommerce market size is expected to grow around US $45- 50 million by 2020. If the report comes true, the market will jump to five times to what it is now.
While travel is expected to account for 60 per cent of e-commerce sales by 2020, electronics would account for about 30 per cent, said the joint report by Boston Consulting Group and Retailers Association of India.
However, the report also states that the growth of Etailing sector is largely depending on the amount of internet users. By 2020, it is expected the internet user profiles will jump to 650 million by 2020 from 250 million. “Urban users would nearly double from about 80 million to about 120 million,” the report said.
Apart from that, it is also expected that the women internet users’ ratio will increase and it will touch 40 per cent mark from 29 per cent, what it is now. However, the report further explained, “More than 400 million customers could potentially be digitally influenced by 2020, accounting for about 25 per cent of the retail spend. Digitally influenced spenders research products and pricing online while purchasing either offline or online. About US $250 billion of retail spends would be digitally influenced, accounting for about 25 per cent of the overall spend.”