E-commerce sector has been one of the fastest growing sectors in the world. As per the estimation of Industry Body Internet and Mobile Association of India (IAMAI) and IMRB, the e-commerce market in India is expected to double to Rs.2,11,005 crore by December 2016.
The value of e-commerce market in India stood at Rs.1,25,732 crore by the end of December 2015. It registered a growth of 30 percent between 2011 and 2015. And, it is expected to double by the end of the current year.
As per the estimation of IAMAI and IMRB, online travel industry and e-tailing were the dominant categories in the India market. The online travel industry is expected to touch Rs.1,22,815 crore with a phenomenal grow by 40 percent by the end of 2016. While hotel booking registered a growth of 165 percent in December 2015 compared to the December 2014.
As per the report, mobile phone and mobile accessories were in high demand in the e-tail segment. The shoppers between the age group of 16-34 years belonging to top eight and small metros made purchases on various e-commerce websites.
The demand for apparel and footwear was also in demand on these e-commerce online portals, as the spending on these items touched to Rs.7,142 crore in December 2015. And, it is expected that these items would gain further momentum in 2016.
The report is really an encouraging for the e-commerce startups in India as the sector would double by the end of 2016.