According to India’s Digital Leap – The Multi Trillion Dollar Opportunity report issued by investment bank Morgan Stanley, this growth in ecommerce will help grow market penetration to 12% in the next nine years, versus 2% today.
India had 60 million online shoppers in 2016, which is 14% of the Internet user base of the country. This will rise to over 50% by 2026, the report said.
People with less than 2 years experience on th Internet don’t transact on the web (including mobile banking). They are engaging in basic activities like messaging, social media, and search, that don’t involve a monetary transaction.
Once a consumer has been online for more than five years, they are more likely to buy online. Right now, that’s only 30% of India’s 432 million Internet users.
Several years ago, cash-on-delivery was over 60% of ecommerce sales which has now come down to 55-60%. Looking at UPI and digital wallets, their share has increased to 4-7%. Hoewever, the growth will still be led by the “horizontal” ecommerce players, including Amazon India and Flipkart.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright