India to overtake US as world’s largest e-commerce market: Study

[AndrewJin]

The graph was about the Retail E-Commerce.

Yes, when we talk about E-commerce retail sales, we are talking about tangible goods like smart phones and A/C.

Total E-commerce consumption is about tangible goods and intangible online services (for example order a national park ticket online and use your QR code to get inside the park). The number is way higher than retail sales, since includes online services and online financial products.

This was an old estimation, not accurate.
But it was about tangible goods, i.e., retail sales.

11.11 MEGA-SALE BREAKS RMB 120 BILLION GMV

I think the original poster posted the article as a joke, but I will humor you and get into a bit actual disscussion.

E-commerce, in many sense, is exactly like traditional economic activities----basically, it is accumulated result of a nation's overall development level. For example, for e-commerce delieveries to made to destination on time, the nation must possess a robust transportation system. For transactions flow to occur smoothly, there must also be a correspondingly robust electronic financial system, appropriate monitoring agency to ensure safe and clean transaction. The quality control, data accessment ability of the government must also be sufficient to ensure the activity is health. So on and so forth. Bascially, to have a large e-comerce, the nation must already possess an equally large real economy.

https://trellis.co/blog/top-10-ecommerce-markets-by-country/

The link shows that the countries with the largest e-commerce are pretty much also the countries with the largest economy. (Though India is currently performing below the level, this is mostly because India has the poorest industrial infrastructure among the top economies) So by saying India will become the largest e-commerce market by 2034, it is basically saying India will become the strongest economy on earth and the nation with the best infrastructure in 18 years. I don't know about you, but I think that is going way above "over-optimistic".

Spot on.

I have read many silly comments in PDF such as "it's just e-commerce, how hard is that?"

I don't want to poke them face-to-face.

But you r right about it.
The foundation of E-commerce is not really about internet (to some extent yes, such as cloud computing tech), but largely about the basic economic activities and maturity of a country's industrialisation, infrastructure, logistics, financial literary, etc.

More importantly, you got to have something locally made to SELL!!!

includes products or services.

In India its mostly products (physical goods) not so much services.

No, it's about tangible goods.
You guys seem to have very little knowledge on this topic.
Retail sales and e-commerce consumption are totally different.

 

[AndrewJin]

India to overtake US as world’s largest e-commerce market: Study
The report said the e-commerce market is expected to grow exponentially with emerging markets like India leading the charge.

PTI | New Delhi | Publishedecember 5, 2016 9:49 pm

The report said much of India’s eCommerce growth will be the result of rising internet penetration as roughly 350 million Indian citizens are already online and that number is expected to nearly double to 600 million by 2020.

The Indian e-commerce market is set to overtake the US and become the second largest in the world in less than two decades, going head-to-head with China for the numero uno position, according to a report by global payments firm Worldpay. The report said the e-commerce market is expected to grow exponentially with emerging markets leading the charge –particularly India, where the segment is predicted to mature by 28 per cent per year from 2016 to 2020.

“According to Worldpay projections, India will be the world’s second largest e-commerce market by 2034, thanks to massive surges in internet penetration, a swelling millennial population and the rising uptake of mobile phones,” it added.

Ron Kalifa, Vice Chairman at Worldpay, said the research found a number of trends that point to India’s potential for “astounding e-commerce growth in the next two decades”.

“The market is predicted to reach USD 63.7 billion by 2020 and overtake the US by 2034. This enormous development will in turn open up enormous opportunities for companies who sell online,” he said.

However, it is essential that merchants stake their claim today in order to win over India’s commerce-hungry population and capitalise on future e-commerce growth, he added.

“Leading companies such as Amazon and Alibaba are already making their move, indicating a clear incentive for merchants to gain their foothold within India’s budding eCommerce market as soon as possible,” Kalifa said.

Worldpay analysed 30 markets around the world, including India, China, Hong Kong, South Korea, Singapore and Australia in Asia-Pacific. The Global Payments Report is compiled using a combination of Worldpay’s data and insights as well as external findings and secondary data.

The report said much of India’s eCommerce growth will be the result of rising internet penetration as roughly 350 million Indian citizens are already online and that number is expected to nearly double to 600 million by 2020.

Another major factor driving e-commerce growth in India is the huge uptake of mobile phones. India is the world’s biggest consumer of mobile phones with the price of data plans running two times cheaper than in China and three times cheaper than in the United States, it said.

As the country’s middle class switches over to 3G and 4G networks, both offered at affordable prices, India is expected to see more mobile shopping, especially amongst millennials.

“Young people shopping via smartphones are already responsible for sharp increases in India’s online spend; and with 70 per cent of the population below the age of 35, millennials are expected to continue driving rapid digitisation even further,” it said.

http://indianexpress.com/article/bu...rlds-largest-e-commerce-market-study-4412223/

The ongoing trend is integrating online shopping with offline shopping via VR technology.

The first revolution of E-commerce is all about going online.
Now, the new revolution is about E-comerce going offline.

 

[T-72]

Yes, when we talk about E-commerce retail sales, we are talking about tangible goods like smart phones and A/C.

Total E-commerce consumption is about tangible goods and intangible online services (for example order a national park ticket online and use your QR code to get inside the park). The number is way higher than retail sales, since includes online services and online financial products.

This was an old estimation, not accurate.
But it was about tangible goods, i.e., retail sales.

Ok, fair enough, I wasn't posting in defence of the article btw.

 

[AndrewJin]

Overtaking US maybe, but China?
Do they know it is already 900 billion per year in China, 15 times of the PROJECTED number of 2020??

“The market is predicted to reach USD 63.7 billion by 2020 and overtake the US by 2034.

Ok, fair enough, I wasn't posting in defence of the article btw.

OK.