India's online sales boom: +76% in 2016
After a record 129% online sales increase last year, B2C e-commerce in India is expected to grow by at least 76% in 2016, reaching a total value of $25.5 billion.
The figures were published in a report by the E-commerce Europe confederation, which highlighted how the country still enjoys a remarkable growth potential. "India is a highly promising country in terms of e-commerce potential, since currently only 27% of its inhabitants are internet users." There were 'only' 65 million online buyers in India last year, compared to 40 million a year earlier.
The spectacular sales rise recorded last year resulted in a doubling of sales for all product categories. Top of the list of products bought online were electronic items and cultural products, ahead of fashion, outdoor wear and footwear. It is worth noting that 41% of purchases were made by mobile users.
The increase in online sales is in stark contrast with the trend of brick-and-mortar distribution in India. In the course of one year, the vacancy rate in Indian shopping malls rose to 20-25%, while rental incomes fell by 30%. This was due not simply to e-commerce's competition, but also to taxes on retail purchases and the very rapid growth of available retail space.
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