Over the years, E-commerce is growing by leaps and bounds, and Indian E-commerce has become a hotbed for retailers to expand their online business. The number of consumers who purchase online is expected to cross 100 million by the end of 2017 – an ASSOCHAM-Resurgent India study. The study also shows that demonetization and a drop in cash transactions, along with the introduction of mobile wallets has opened a lot of opportunities for the Indian e-commerce market.
A question that pondered over and over by every new seller is “what to sell and where to list the products so as to get maximum profit”?
With increasing Internet penetration, India has witnessed exponential growth in the last few years, and the trend is getting better with time. The sellers who started selling online on different marketplaces saw their fortunes change as business went up multifold.
According to the ASSOCHAM- Resurgent India study, Indian E-commerce looks more promising which has risen from $3.59 billion in 2013 to $5.30 billion in 2014, and it is expected to touch $17.52 billion by the end of 2018.
The IAMAI (Internet and Mobile Association of India) study tells that mobile phones & accessories are the highest selling products on popular e-commerce platforms such as Amazon, Flipkart, Snapdeal, etc. Here is the list of top selling product categories according to their market share (in terms of percentage) –
Even though Indian E-commerce is growing exponentially, there are certain challenges which are associated with E-commerce industry such as the absence of E-commerce laws, rapidly changing business models, low entry barriers leading to reduced competitive advantages, shortage of workforce, urban phenomenon, and last but not the least customer loyalty.
The year 2017 will see a large scale growth in the Indian E-commerce market with massive participation from sellers across the country.
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