Noida, UP -- (SBWIRE) -- 02/12/2014 -- With the introduction of 3G and 4G services in India, internet penetration is rising in the country. Internet penetration is increasing rapidly with smartphone users which are expected to drive online shopping market in India. In addition, rise in digital literacy is expected to support the growth in the online retail market. In order to make technology accessible, affordable and usable to the people across the country, Intel along with NASSCOM and other ecosystem players in the area has launched the national digital literacy mission. Besides this, increasing impact of social media is influencing the consumer behavior, and is playing a decisive part in the purchasing cycle. Considering the above factors, Indian online retail market is anticipated to grow at a CAGR of 43.5% during 2013-2017.
In their latest research report, “Booming Online Retail Market Outlook 2017”, RNCOS analysts have identified that the online retail market has been growing at tremendous rate. With rising active internet users, and growing culture of smart-phones and tablets, people have started buying products online. The report also studies the latest trends and drivers, including growing sales in tier-2 & tier-3 cities, entry of foreign players, venture capitalist pumping huge sums that will boost the online retail market in India.
The report studies the online retail market, including the product categories such as electronics, apparel and accessories, books and magazines, home and kitchen appliances, baby products etc. It discusses in detail all the product categories within the current market and provides forecasts till 2017. In addition, the report covers a regional analysis of the online retail market, including break-ups into north, west, east, and south regions, and tier-1, tier-2 and tier-3 cities’ shares.
RNCOS’ comprehensive study also includes a survey on consumer behavior towards online shopping, which was conducted to understand the online retail market in a better way. The survey analyzed buying preferences, mode of payments, most preferred online portals, and spending patterns under different price bands. The report also provides an insight into the government policies and regulations (cyber laws), and various industry roadblocks.
The report “Booming Online Retail Market Outlook 2017”, is an outcome of comprehensive research and unbiased analysis of the Indian online retail sector and its various product categories to present a clear picture of the past and present market trends. In addition, the report covers detail analysis of key players such as Flipkart, Snapdeal, Homeshop18, Myntra, Jabong etc. with their business overview, supply chain model, marketing strategy and strength-weakness analysis. In this way, the report presents a balanced research outlook on the potentials of the Indian online retail sector.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.