Zinnov, a leading market expansion and globalization advisory firm, today released a first-of-its-kind study to evaluate the e-commerce industry in India, titled ‘Indian e-commerce industry: riding on high tides’ which covers market conditions and sentiments that drove e-commerce industry in India over the years and predictions on the trends moving forward. The study pegged that the E-commerce industry is largely dependent on growing adoption of smartphones, increased internet users and favored demographic population. It also revealed that 83% of the current e-commerce users in India forecast increase in online shopping.
Today in India there are 120 million unique internet users, which is expected to reach over 350 million by 2015. Over 100 million mobile users will have access to 3G/ 4G connectivity. Over 200 million people will be active on social media from the current 51 million. All these factors will lead to explosive growth of the E- commerce industry in India, in the coming years.