E-commerce to see nearly 10 million sellers online by 2020
Over 10 million sellers are expected to be online to cater to the huge growth in the customer base on such platform in the next four years, a top e-commerce industry executive said on Wednesday.business Updated: Jun 15, 2016 22:05 IST
Over 10 million sellers are expected to be online to cater to the huge growth in the customer base on such platform in the next four years, a top e-commerce industry executive said on Wednesday.
“India’s internet users are soaring, and over 10 million sellers are expected to be online by 2020 to cater to the huge consumer base, be it through marketplaces or on their own,” Nitin Bawankule, industry director at Google India said in Mumbai on Wednesday.
“Beauty and personal care, lifestyle including home and furnishings, and fast moving consumer goods are the three categories that must focus on integrating their online and offline distribution to ensure seamless customer service,” he added, while addressing the retail industry at a conference.
He urged the industry to think about customer acquisition and ensure supply chain efficiencies.
He also expects that by 2020, the internet users in India would more than double to 650 million from the current 350 million. Presently, there are over 100 million online shoppers, which is also expected to grow exponentially.
Of the 350 million internet users, over 75 million are urban, while rural accounts for less than 20 per cent.
“In the next wave, over 250 million of the internet users will be from rural India, and it is necessary for retailers to stay ahead of this curve,” he pointed out, adding the women shoppers will be expected push online sales going forward.
“Presently the male to female ratio of internet users is 70:30, and this (women users) is expected to go upwards of 40 per cent in the next five years. This will make a significant difference to businesses like healthcare and education,” Bawankule said.
Women shoppers will make larger contributions to online shopping basket, and this will be a significant shift in India, he said.