Our latest report ‘M-commerce – The Next Generation Commerce’ prepared in association with CII, highlights the emergence of m-commerce as a way of conducting business and discusses matters pertaining to growth and bottlenecks, scaling up operations, payments and security, and shares new ideas that will expand the m-commerce industry.
Key highlights of the report are:
- With availability of smartphones which are affordable and intuitive to use, India has become the second largest market, displacing US, after the largest market - China.
- As per publicly available sources the current online shoppers are in the range of 80 to 100 mn and expected to increase 175 to 220 mn by 2020.
- Mobile internet user base in India has increased to 371 mn in 2016. The user base is expected to annually grow by 50 mn till 2019 on the back of increasing 3G subscriber base.
- The RBI temporarily relaxed the limits of mobile wallets from Rs 10,000 to Rs 20,000, and allowed merchants to transfer Rs 50,000 per month from wallets to their banks.
- The last two years have seen high level of funding activity in the Startups focussing on digital commerce (US$ 1,852mn in 2014, US$ 4,258 mn in 2015 and US$ 1,793 mn in 2016).