India and the People’s Republic of Japan have become the world two biggest online marketers, according to an article by the Times of Indian.
The report also found that both the Indian and Japanese companies have become “highly mobile” in recent years, and that the latter has more than doubled its mobile share to 32 per cent from 16 per cent.
Read moreOn a global scale, India has emerged as the top online marketer, according the report.
India now accounts for more than two-thirds of all online sales, accounting for more online users than the United States, Germany, France and Italy combined.
The country’s share of online sales is growing rapidly, with online sales in the country’s largest cities, cities with the largest online traffic, and in some rural areas reaching 30 per cent of all sales, up from 14 per cent in the 1990s.
The Indian market has become the fastest growing in Asia, the report said.
“In the next decade, we can expect India to overtake the United Kingdom as the world market for online shopping, with India’s market share growing by 50 per cent,” said Amit Kumar, director, data at eMarketer.
The survey of 10,000 internet marketers was conducted by eMarker in partnership with the online shopping giant Amazon.
India is currently the top internet marketer in India, accounting, according eMarket, for over three-quarters of online shopping traffic, which makes it the country with the highest online sales volume.
The Times said that India’s internet traffic is growing at the fastest rate in the world, reaching a record 1.3 billion transactions per month in the quarter ending in March 2018.
The market is projected to grow at 7.2 per cent this year, up by 8.7 per cent over 2017, according TOI.
India is also becoming the second biggest online shopping destination in Asia after China, with a market share of 24 per cent, according a report by eCommerce Intelligence.
The India market is expected to grow to over two-and-a-half trillion rupees ($2.65 trillion) in 2021, up 11 per cent year-on-year, according Amazon.
The Times of China has been growing rapidly over the last two years.
It now has over 300 million unique visitors per month, and is predicted to reach over 300 billion visitors in 2021.
China is projected for a market cap of $5.5 trillion by 2021.