The internet has revolutionized the way we think. According to our research, the e-commerce market in India is projected to grow from approximately $720 million in 2012 to $5846 million in 2015. Indian B2C e-commerce is currently valued at $14 Bn, with many commentators predicting it to reach $60-80 Bn by 2025.
Until some time ago, the driving force of eCommerce was the PC and the laptop. But now we see a sudden shift in this phenomenon, in the form of the mobile phone- or more succinctly, smart phones and tablets. IntelligenceNODE believes that the real driver of eCommerce is the mobile. According to research by Kleiner Perkins, in India, mobile internet usage surpassed desktop internet usage in May 2012.
The greatest advantage that Indian mobile consumers have is that they can make use of internet on their phones. This was not possible for many who were unable to avail of internet connections in remote areas due to many reasons.
The mobile revolution is a game changer for the eCommerce sector. Mobile ecommerce sales rose 31 percent in the first quarter of 2013 as tablet-fueled, couch commerce is rapidly becoming the most popular form of online shopping with the so-called multi-channel shopper.
Mobile may be becoming a prominent channel for retail transactions but the mobile users themselves are now divided into many categories, namely- mobile phone users, Smartphone users, tablet users, Ipad users, etc.
Smartphones have changed the psyche of consumers all over the world Annual mobile commerce — defined as the value of stuff people purchased while using smartphones and tablets — grew by more than 81 percent, to $24.8 billion in 2012 from $13.6 billion in 2011, according to an eMarketer report.
In 2013, sales made on mobile devices increased by more than 56 percent, totalling about $38.8 billion.
Smartphones and tablets are being adapted at a rapid rate. According to Bangalore-based management consulting firm Zinnov, e-commerce is expected to increase from US$6.3 billion in 2011 to US$23 billion by 2016 — the buzz is growing around mobile transactions.
Smartphones aren’t just a new platform on which consumers can buy things. They’re changing the very nature of how people shop. People are even using their devices for pre shopping activities like comparing prices, finding locations, searching for good deals, etc. Tablets are playing a much larger role as a new retail platform.
With 1.5 billion Smartphone users, who do not mind sharing personal data, mobile usage has increased dramatically. Tablets are also in the vogue. There are many other applications of technology that can connect one online.
IntelligenceNODE predicts that the non-linear side of technology — digital and mobile Internet — will outpace and outgrow services over the next two decades.