Online retail touches new high

New Delhi: Online retail reached $12.6 billion (Rs 62,967 crore) in the country last year, an annual increase of 32.63 per cent, Internet and Mobile Association of India (IAMAI) said.

In 2012, it was $9.5 billion (Rs 47,349 crore). The industry body said in a release that it expects online retail to grow further as policy and FDI issues are addressed and delivery logistics improve. Apparel and jewellery brands which are marketing and selling their products increasingly through the online channel, were the key drivers of the trade.

IAMAI estimates the number of online retailers to be over one million, representing a very wide range of categories  electronics, books, apparel, accessories, foot-wear, jewellery, etc.

“The presence of such a large number of online sellers testifies to the efficiencies, lower capital costs and deep outreach that online marketplace provides to the retailers,” IAMAI president Subho Ray said.

Apparel and fashion accessories make the majority of sales in the east and south, while jewellery, leather and consumer item sales are prominent in the north and western sectors.

Citing experts, it said growth in India’s online retail space is following global trajectory and proving to be a sustainable and profitable marketing and distribution model.