By Pete Rizzo (@pete_rizzo_)
India’s eCommerce market has reached a “tipping point” fueled by a massive increase in Internet users and rapid retail eCommerce growth, comScore declared in its latest study of the emerging economy.
Released on August 22, “India Digital Future in Focus 2013” found that the total number of Internet users in India has grown by 17.6 million since March 2012, reaching 73.8 million today. This figure is up 31 percent from the 56.3 million observed in March of last year, meaning India trailed behind only Brazil’s 37 percent mark in temrs of year-over-year Internet user growth.
ComScore’s findings suggest that India’s market is underdeveloped compared to other BRIC nations, and that it could soon rise to become a leading eCommerce market. India now accounts for 11.5 percent of Asia-Pacific online users: a group that comprises 41 percent of the total Internet population.
The study also noted that India has overtaken Japan as the third-largest global online market and the second-largest Asia-Pacific market. Further, its share of the market is only expected to increase. Seventy-five percent of Indian online users were revealed to be under the age of 35.
ComScore found that this young user base is also beginning to embrace eCommerce. Apparel and comparison shopping were two of the fastest growing web categories in India observed by the study. Apparel grew by 85 percent year-over-year, while comparison shopping increased by 52 percent.
For more insights into the Indian retail market and its growth potential, we compiled comScore’s eCommerce data into a new PYMNTS.com Infographic.
Here you can scroll to reveal interactive charts that highlight key eCommerce statistics that provide support for comScore’s conclusions. What are the largest retail subcategories in India, and how does India’s average time spent on retail sites compare to other top eCommerce markets? View below to explore the data.