The year 2016 has witnessed whopping sales of $ 681 billion in online retail sales. Globally, it’s China which has the largest market for e-commerce worldwide followed by The United States.
Going by the reports of Forrester Research, it reveals that one-fifth of the total retail sales will take place online by 2021 in Asia Pacific. About 78 percent of this will happen over mobiles.
The main focus is however on Asia Pacific. According to Forrester, Asia-Pacific continues to be the largest platform for online retail sales. China alone accounts for nearly 80 percent of the sales in Asia Pacific and there are reports that it will become the first market to reach $ 1 trillion by 2021.
Meanwhile, the Indian market is said to increase its revenue and reach $ 64 billion by 2021. On the contrary, a forecast analyst at Forrester alert said India will take almost 10 years to reach the level as most of the population still resides in tier 3 cities.
Reports also suggest that internet and e-commerce sector is still small in India and also the population when compared to China. So, it is unfair to compare China and India.
Progress will definitely happen in India’s e-commerce sector.