E-commerce, which & #BANNER1 & # is yet to take off in a major way in India, seems to have a bright future, if one goes by a recent survey, 'Consumer E-Commerce Market in India 2006-07', conducted by the eTechnology Group of IMRB for the Internet and Mobile Association of India.
The survey, which incorporates various e-commerce segments such as online travel, e-tailing, classifieds, digital downloads and paid content subscriptions, predicts that the total e-commerce market in 2007-08 will stand at Rs 9,210 crore as compared to Rs 7,080 crore in 2006-07, thus growing by 30 per cent by the end of fiscal 2007-08.
The online classified market, represented by online jobs, matrimony, property, automobile and general classified sites, will constitute the next biggest contributor to the e-commerce industry in India after online travel. And going by the IAMAI-IMRB survey, it will reach Rs 820 crore by the end of 2007-08 from Rs 540 crore in 2006-07.
e-Tailing, comprising online retail and auctions, is expected to reach Rs 1,105 crore by the end of 2007-08; it stood at Rs 850 crore in 2006-07.
The survey points out that convenience and saving time are the main reasons why netizens opt for e-commerce.
The estimates are based on both secondary and primary research conducted among various e-commerce players.