Digital growth takes a 53% leap over last year

19 Mar,2015

 

By A Correspondent

 

There was always talk of digital surging ahead of the others in its quest to be the fastest growing medium. But never was this trend more visible than in 2014-15 where a host of e-commerce players put up some never-seen-before action and beat industry expectations on the parameter of growth and excitement.

 

According to the latest Digital Commerce Report by IAMAI and IMRB International, the digital commerce market was valued at INR 81,525 crores by the end of December 2014, and registered a growth of 53 per cent over 2013. The report further states that the industry is estimated to grow further at a rate of 33 per cent and cross INR one lakh crores by the end of 2015.

 

The report also finds that online travel comprised a majority 61 per cent of the whole Digital Commerce pie. Significantly, e-Tailing has grown by around 1.4 times over 2013 and constitute nearly 29 per cent of the overall share.

 

According to the findings of the report, Mobiles & mobile phone accessories contribute the most, i.e., 41 per cent (INR 9,936 crores) to the e-Tailing segment followed by apparels, footwear & personal items which contribute 20 per cent (INR 4,699 crores). Consumer Durables along with Kitchen Appliances contribute another 14 per cent (INR 3,404 crores). Out of the remaining 25 per cent, Laptops/Net Books/Tablets, Home Furnishings and Books contribute another INR 2,780 crores, INR 1,059 crores and INR 648 crores respectively.

 

The report also finds that 45 per cent of the Online Shoppers prefer Cash on Delivery as a mode of payment. 21 per cent prefer payment through Debit Card and 16 per cent via Credit Card. The other modes of payment include Internet Banking (10 per cent) and other payment modes viz. prepaid cash cards, mobile wallets etc (8 per cent).

 

 

According to the report, the Financial services market has grown at a CAGR of 20 per cent since 2010. In December 2014, this market was valued at INR 4,508 crores. The Classifieds markets have seen a significant growth and are valued at INR 896 crores by Dec 2014.

 

Other online services market has grown with a CAGR of 73 per cent since 2010 and was valued at INR 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 per cent) over the last year in this segment and it is now valued at INR 350 crores by the end of 2014.

 

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