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News >> Technology >>
e-commerce explosion round the corner: study
By agencies
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Wednesday, 31 August 2005, 19:30 IST
CHENNAI: With the economy growing at a brisk pace and the Internet penetration expected to go up manifold in the coming years, e-commerce or shopping through online media is set to leapfrog in the country.
As per a recent study of Internet and Online Association of India (IOAI), there will be a 100 million Internet users by the year 2007 in India. At present the Internet penetration is only 25 million. Recent estimates predict that e-commerce transactions are poised to grow by 300 percent by 2007. E-commerce transactions are estimated to touch Rs 23 billion by 2007.
The IOAI study revealed that out of the total Internet users in the country, only 28 percent use Internet for shopping, now days. In the coming years more and more users are likely to turn online shoppers, as the trend already has set in here.
Though the majority is always in favor of offline retail, all around the world e-commerce complements offline retailing. This includes very highly mature markets like Germany and U.S.