News : Flipkart Co-founder says ‘ India’s E-commerce market to reach $70 bn by 2020

LogicNews for Logicserve Digital

India’s e-commerce business has jumped more than 80% since 2013, says Flipkart. It’s CEO and co-founder Sachin Bansal predicts that the e-commerce business in India is expected to reach around $50-$70 bn by 2020.

According to a join report by KPMG and IMAI India’s e-commerce market in 2013 was about $13 bn. Mr. Bansal has predicted that :

  1.     Smart phones will be the biggest sales drivers for the coming years
  2.     More than half a billion Indians will switch to smart phones in the next five to six years

Other facts:

  1.     Total online sales across the globe has reached $1.22 trillion
  2.     Only about 12% Indian population is into online shopping in India, compared to almost 65% in the US

LogicSpeak:

This is a good news for the e-commerce market. With higher penetration into the rural space, there will be more opportunities. With the expansion of e-commerce market, even Coupon code publishing will see a boost. Indian shoppers prefer to check across all the options and then pick up their products.

Link : http://bit.ly/1no48CS

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