Digital commerce market touches Rs 81525 Cr in 2014
The digital commerce market was valued at Rs. 81,525 crores by the end of December 2014, and registered a growth of 53% over 2013. According to the latest ‘Digital Commerce Report’ by IAMAI and IMRB International, the industry is estimated to grow further at a rate of 33% and cross Rs.1 lakh crores by the end of 2015.
The report further finds that online travel comprised a majority 61% of the whole digital commerce pie. Significantly, e-tailing has grown by around 1.4 times over 2013 and constitute nearly 29% of the overall share.
Here are the key highlights of the report: -
- Mobiles phone & accessories contribute the most, i.e., 41% (Rs. 9,936 crores) to the e-tailing segment
- Apparels, footwear & personal items which contribute 20% (Rs. 4,699 crores) come in second.
- Consumer durables along with kitchen appliances contribute another 14% (Rs. 3,404 crores).
- Out of the remaining 25%, laptops/e-books/tablets, home furnishings and books contribute another Rs. 2,780 crores, Rs. 1,059 crores and Rs. 648 crores respectively.
The report also finds that 45% of the online shoppers prefer cash-on-delivery (CoD) as a mode of payment. 21% prefer payment through debit card and 16% via credit card. The other modes of payment include Internet Banking (10%) and other payment modes viz. prepaid cash cards, mobile wallets etc (8%).
According to the report, the financial services market has grown at a CAGR of 20% since 2010. In December 2014, this market was valued at Rs. 4,508 crores. The classifieds markets have seen a significant growth and are valued at Rs. 896 crores by Dec 2014.
Other online services market has grown with a CAGR of 73% since 2010 and was valued at Rs. 2,025 crores by December 2014. This segment includes emerging service categories like online entertainment ticketing, online commuting, online food and grocery delivery. Online food delivery market has seen the maximum growth (40%) over the last year in this segment and it is now valued at Rs. 350 crores by the end of 2014.