India’s leading eCommerce consulting company predicting more than double digit growth in Indian eCommerce business for FY 2015-16. The new startup online site have reported 78% rapid growth, than previous year.
Mandsaur, Madhya Pradesh -- (SBWIRE) -- 05/18/2015 -- An annual review to of eCommerce industry at India business forum 2015, consultants of India's leading eCommerce consulting company chitrangana.com (http://chitrangana.com) has explained the growth prediction of eCommerce business in India for the FY 2015-16.
The consultant says : "The eCommerce industry is growing more than by double-digit if we include start-up websites, the start-up website now contributing 40% stack in total industry growth as well the sales of startup websites are grown by 78%, than previous year, the industry is expected to touch triple digit growth in FY 2015-16."
The forum has discussed various market statistics include prediction reveal by Chitragana.com , The consultant Mr. Nitin Lodha responsible for startup development at Chitrangana.com said the addition of mobile commerce boost the industry in multiple dimension and it has created a new base of customer which is bigger than total number of customer added in last 5 years, he also predicts the launch of fast internet service like 4G will boost the customer base rapidly in tens of multiplication. Mr. Lodha said the growth of customer base which obviously boost the demand of products as well.
The forum found respect to growth of Indian eCommerce industry the player or sites are very limited, even in current scenario most of the big players are not able to maintain the order delivery and customer support at slight increase in sales during weekends or festivals. The forum expects more than 400 new commerce site with the capacity of thousand order per Hr processing and about 10,000 new launch of small scale startups are required to handle the expected business growth by the end of 2016. By 2016, e-commerce transactions in India are projected to hit approximately 8.% percent of total retail business of India and by 2023, India's e-commerce market is forecasted to be larger than those of the US, Britain, Japan, Germany, and France combined.
According to chitrangana.com, there are five major drivers are working in favour of e-commerce growth in India: mobile devices, reach of internet, lack of products availability in Indian small towns, transparent pricing and social media network.