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According to the report released on Tuesday by MMA India and media agency GroupM, the number of Internet users in India is expected to increase to 90 million by 2025. This will be 622 million more than the current number of users. Due to the increasing number of Internet users, the number of online shoppers in the country will increase to 500 million by 2030.
The report said that consumers are increasingly adopting digital because of affordable internet. With this the online retail market is expected to grow three times in four to five years. Products account for 60 per cent of the $50-60 billion online retail market, while services account for the rest.
Apart from this, the travel, transport and tourism, consumer appliances and electronics businesses contribute 50-60 per cent. E-commerce companies have the highest reach in these categories. Categories such as grocery, education, health and living together account for just $9-13 billion in the total online retail business.
Quoting the report, Tushar Vyas, President, Growth & Transformation, GroupM South Asia, said online retailing is shifting from electronics to grocery. In the last 12 months, 73% of customers have purchased products online.
The main reason for this is the quality, information, return and warranty of the products. Customers emphasized the quality of the products 63 per cent the most during the purchase.
It further said that 62 per cent of urban customers are collecting information about products online before buying online or offline.
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