Online retail industry to reach Rs 7,000 cr by 2015: Assocham

The market size of online retail industry in India is likely to touch Rs 7,000 crore by 2015 due to increasing internet penetration across the country, a Assocham survey said.

The market size of online retail industry in India is likely to touch Rs 7,000 crore by 2015 due to increasing internet penetration across the country, a survey said.

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Currently, the online retail market stands at Rs 2,000 crore and is growing at an annual rate of 35%, industry chamber Assocham said.

"India is set to become the third largest nation of internet users in the next two years... Leading companies have gauged the potential of online retail industry and are gearing up fast to cash in," it said.

Out of the 5,000 shoppers participated in the survey, about 40% said they prefer to shop online considering convenience to shop anytime and one can collect detailed product information.

"Besides, one can research variety of products available and can easily compare prices from different vendors anywhere in the world," it said.

Among big cities, consumers in Mumbai topped the chart in online shopping followed by Ahmedabad and Delhi.