Hyderabad: Jewellery, mobile phones, apparels and food items ruled the roost in e-commerce sales in 2017 and will continue to do so in the coming year, a report said.
A joint study conducted by Deloitte and Assocham showed that these top selling product categories are expected to drive e-commerce revenue up by seven to tenfold from last year. Availability at cheaper rates and doorstep delivery will boost revenue growth as well in these categories.
The study said a steady growth has been observed in the Indian e-commerce industry in the past few years from US$ 13.6 billion in 2014 to US$ 19.7 billion in 2015. The increase in sales was driven by the popularity of mobile internet and lucrative payments and shipping options offered by e-commerce sites. One out of every three customers in tier-1 and tier-2 cities currently transact through mobile phones. Also, more than half the online transactions are done via cash on delivery that can be availed across 600 towns and cities.
The Indian e-commerce market is predominantly a young one. “More than 70% of the online customer base is below 35 years whereas only 2% belong to the 45 years and above category,” the joint study indicated.
In 2018, market size of online sales is forecasted to rise to US$ 50 billion from US$ 38.5 billion in 2017, the report said.