As per latest report India has the potential to generate e-commerce value of over $50 billion by driving awareness, usage and transactions among the current and next set of Internet users and shoppers. Meanwhile more than 500 million Indians will constitute the next wave of online consumers, according to a report jointly released by Bain & Company, Google and investment firm Omidyar Network.
Presently with an online buyer spending on an average $224 per year, e-commerce retail shopping in India is 10% of what Chinese spend, according to the report. Reports added that only 40% of India's 390 million Internet users transact online, said the report titled and it added "Unlocking Digital for Bharat: $50 Billion Opportunity". India on an average adds 40 million new Internet users per year to online transactions.
Arpan Sheth, Partner,
Bain & Company and one of the authors of the report said in a statement "While
online spends are still low given lower per capita incomes, there is huge
potential to unlock value by addressing user concerns at various stages of the
digital curve; however, the path won't be easy for businesses and they will
have to innovate and be patient to monetize this user base and generate value".
Furthermore of the 390 million Internet users, 80% are from affluent
socioeconomic segments and penetration among lower income segments is only
13%, the findings showed.
Anna University Exams postponed to December 13, 14 due to Cyclone Gaja Recently Anna University has announced that theory examinations scheduled for Friday will now be conducted on December 13. As per report the University has also postponed examinations scheduled for November 17 to December 14 and the examinations have been rescheduled on account of Cyclone Gaja, which hit the coastal areas in Tamilnadu on Friday.
- Mobile app to track air pollution developed by Delhi students
- PM Narendra Modi campaigned at Chhattisgarh
- Congress privilege motion against Modi!
- Yogi Adityanath's hug challenge!
- Hyderabad Metro recording footfall of 80,000-85,000 passengers per day
- Controversial Ad of Kalyan Jewelry removed
- Donald Trump unlikely to get boot from Twitter even after threatening Iran
- Pack your Condoms too if you are going on a Tour of France - Here's Why...
- US Officials apologize to Sikh Minister as they forced to remove his Turban
- Two-Wheeler owners to get incentives?
- Leaders can take a lesson or two to watch KTR & Pawan words in public
- Iraqi Airways suspend 2 pilots who fought for food tray
- AP Govt taken a sensational decision restricting CBI's entry into AP
- Mahindra & Mahindra rolled out electric 3 wheeler auto rickshaw in Bengaluru
- Sabarimala Temple Police Officers instructed to follow new Dress Code