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Retail Sales In India Growing At An Impressive Rate Of About 15%; Reveals ASSOCHAM-Resurgent Study

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The total in is likely to increase from the $717.73 billion during CY 2014 to touch $1,244.58 billion by 2018 as its growing at an impressive rate of about 15%, registering a double digit growth figure year after year, according to an ASSOCHAM-Resurgent latest study.

In 2017, about 100 million consumers purchased online and the number is expected to cross 120 million by 2020 with the rise of digital natives, better infrastructure in terms of logistics, and to fuel the demand in

As per the findings of the joint study, has left behind all other cities in shopping online in the year 2017. While ranks second, ranks third in their preference for online shopping, adds the study.

In other cities like Bangalore, its population chose to buy through which will go to 75% this year for apparel, gift articles, magazines, home tools, toys, jewellery, & sporting goods categories.

Likewise, share was 68% in the last year, which might go up another 72% in this year for electronic gadgets, accessories, apparel, gifts, computer peripherals, movies, hotel booking, home appliances, movie tickets, health & and apparel gift certificates etc whereas, Delhi, 65%% of its population chose to buy through in 2017-18, which will go to 68% by the year end.

In 2018, will become more important as most of the companies are shifting to m-commerce. Mobile already accounts for 30-35% of sales, and its share will jump to 50% by 2020, adds the report.

is big and getting bigger every day. has been embraced by Indians with close to 25-30 million adults making a purchase via the internet in the last year.

The paper said, and buyers starting with a base age of 18 are become more involved with ecommerce in their early teens, adds the paper.

There is a surge in the number of people shopping on mobile across India with tier II and III cities displaying increased dominance. In fact, 50% of our traffic is coming from mobile and a majority of them are first time customers, adds the paper.

The year 2018 will see large scale growth in the Indian with increased participation from people across the country. This industry will continue to drive more employment opportunities and contribute towards creating more entrepreneurs through the e-commerce marketplace model, noted the study.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 14:58 IST