Online Shopping Patterns Using Smart Phones
CHAPTER 1
1.1 Industry Profile
The Internet’s potential contribution to India’s gross domestic product by 2015 may leap to $100 billion by 2015, from about $30 billion in 2011, according to a new a study by McKinsey & Co.
Currently, only 120 million people – or about 10% of India’s 1.2 billion population – use the Internet. By 2015, McKinsey projects India will overtake the U.S. to become country with the second highest number of Internet users after China. Globally, about two billion people currently use the Internet. In 2010, the Internet contributed $1.7 trillion to the world economy, according to McKinsey. That’s roughly the current size of India’s economy.
But most people, who will access the Internet in India by 2015, will do so on mobile devices such as cellular phones or tablet computers: “three out of four users from India will be mobile-only users,” says the report. An increase in Internet users could create 22 million jobs by 2015 from about six million now, the report added.
Sector Profile: e-Commerce Industry
The e-commerce is one of the biggest things that have taken the Indian business by storm. It is creating an entire new economy, which has a huge potential and is fundamentally changing the way businesses are done. It has advantages for both buyers as well as sellers and this win-win situation is at the core of its phenomenal rise. Rising incomes and a greater variety of goods and services that can be bought over the internet is making buying online more attractive and convenient for consumers all over the country.
Trends in the Industry:
- Feminization of the Industry
- Mounting Social Media
- M-commerce – A new wave!
- Online Group Buying – Explosive growth!
- After VC’s, Now Celebrities
- Change in the Business Model
- Hiring the best
The Industry is expected to grow at a CAGR of 40%, from US $ 5.9 billion in 2010 to US $ 34.2 billion in 2015E. As Indian e-commerce market is in nascent stage but it
1.1 Industry Profile
The Internet’s potential contribution to India’s gross domestic product by 2015 may leap to $100 billion by 2015, from about $30 billion in 2011, according to a new a study by McKinsey & Co.
Currently, only 120 million people – or about 10% of India’s 1.2 billion population – use the Internet. By 2015, McKinsey projects India will overtake the U.S. to become country with the second highest number of Internet users after China. Globally, about two billion people currently use the Internet. In 2010, the Internet contributed $1.7 trillion to the world economy, according to McKinsey. That’s roughly the current size of India’s economy.
But most people, who will access the Internet in India by 2015, will do so on mobile devices such as cellular phones or tablet computers: “three out of four users from India will be mobile-only users,” says the report. An increase in Internet users could create 22 million jobs by 2015 from about six million now, the report added.
Sector Profile: e-Commerce Industry
The e-commerce is one of the biggest things that have taken the Indian business by storm. It is creating an entire new economy, which has a huge potential and is fundamentally changing the way businesses are done. It has advantages for both buyers as well as sellers and this win-win situation is at the core of its phenomenal rise. Rising incomes and a greater variety of goods and services that can be bought over the internet is making buying online more attractive and convenient for consumers all over the country.
Trends in the Industry:
- Feminization of the Industry
- Mounting Social Media
- M-commerce – A new wave!
- Online Group Buying – Explosive growth!
- After VC’s, Now Celebrities
- Change in the Business Model
- Hiring the best
The Industry is expected to grow at a CAGR of 40%, from US $ 5.9 billion in 2010 to US $ 34.2 billion in 2015E. As Indian e-commerce market is in nascent stage but it