'Digital commerce to reach Rs 2.37 lakh cr by Dec 2018'
Mumbai: The digital commerce market in the country is likely to touch Rs 2,37,124 crore by December 2018, says a report. It grew at a CAGR of 34 per cent between December 2011 and December 2017 to reach Rs 2,04,384 crore by the end of December 2017.
According to the Digital Commerce report 2017, online travel industry continues to grow strongly with 54 per cent share while share of online non-travel has improved over the previous year to reach 46 per cent. The report is published by the Internet and Mobile Association of India (IAMAI) and IMRB Kantar, a market research and consumer consulting organisation.
The spend on online non-travel segment showed a higher year-on-year growth of 27 per cent between 2016 and 2017, as compared to 16 per cent y-o-y growth of online travel segment. Domestic air ticket booking was the highest contributor with 19 per cent y-o-y growth from Rs 38,160 crore to Rs 45,560 crore in 2017.
"The e-travel market is expected to reach close to Rs 1,29,600 crore by December 2018," the report said.
The e-tailing maintained a strong performance with a 23 per cent y-o-y growth.
In the e-tail category, mobile phone and mobile accessories continued to be the top contributor to the overall pie.
"The e-tail segment is expected to reach around Rs 87,300 crore by December 2018," the report highlighted.
The online utility payment market reached close to Rs 10,201 crore in terms of overall online transactions as of December 2017. Continuing at the same growth rate, the market is further expected to reach Rs 13,000 crore by December 2018, it said.
Other online service markets, including online bookings done for entertainment, online grocery and online food delivery, reached close to Rs 6,060 crore in December 2017. PTI