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August 22, 2012

Online Retail in India Takes off, grow by 43%

Silently, steadily, e-retail has been gaining ground and is expected to touch a market size of around $70 billion (Rs 3,56,000 crore) by 2020 from the present Rs. 2,700 crore. In fact, the industry is upbeat and feels these are estimates are conservative, and the growth and market size could be even higher by 2020.

Apart from local brands and e --shopping portals , there are dozens of generic e-tailers who project themselves as one-stop-shops for everything from lingerie to laptops to luxury goods. Sachin Bansal, CEO of the runaway success, said his aim was to sell anything and everything that can be sold online.

The e-retailers are benefiting from the ever-increasing penetration of internet broadband, and  the rush for internet-enabled computing devices such as smart phones, tablets and laptops, and more consumers shop online.