E-commerce takes over Indian retail
Online retail grew 88% in India last year and shows no sign of stopping. CNN's Sumnima Udas reports.
Dewali India's most important festival, five days of fire works, ritual celebration and most importantly shopping, for retailers like Mike, Dewali can account for up to a third of their annual sales, and this year, well, it's never been better.
This is almost if i talk about a whole line double, and if i go online then within the one year period has gone 10 times to 7 times at least.
The exponential growth largely owing to e-commerce sites like snapdeal in the lead up to this holiday season, founder and CEO Kunaba says snapdeal sell one smartphone every six seconds, a laptop every twenty seconds and a pair of shoes every ten seconds.
Snapdeal works as second virtual market place similar to China's Alibaba, they don't buy or keep their own stocking and inventory, so all the products are brought here, they've got *, they've got smartphones, they've got razers and everything is brought to centers like this, packaged and then distributed.
Snapdeal will deliver some 20 million products across 5,000 towns and cities in India this month, other leading e-commerce sites like Flipcard and Amazon India boost similar numbers.
The explosion that has happened over the last 6-9 months has been immense, and i still feel we're just seeing a tip of the iceberg, we are seeing nearly 70% of all our orders are coming our smartphones now, we've demonstrated over and over again as a country that we like to leap frog trends, that we've leap frogged fixed line phones, we've leap frogged retail, i think we are leap frogging buying over the pc.
Online retailing India grew 88% last year, millions of Indians living in small towns and villages like this now shopping online with smartphones, for small business owners like B, it's transformed the way they think.
Market opens up the whole of India, now we get customers from Kashmir to K.
In other words from north to south India there are currently 243 million internet users in India, that too is expected to more than double by 2020, what is it said about the potential of e-commerce in India, well the map is quite simple.
Sumina Udas, CNN, New Deli.