India to have next 500 Mn online shoppers by 2028

India is on the verge of massive online boom primarily driven by growing internet users, cheaper data tariffs and affordable smartphones.

In the next ten years, e-comm market is expected to outrun offline retail growth and become $230 Bn markets, said the latest survey report by the E-Commerce Council of India (TECI) and ChannelPlay.

E-commerce in the country has witnessed the first wave of metro consumers and is now adding expected to add next 500 million shoppers by 2028, the report added.

E-commerce growth is creating opportunities for MSMEs and independent sellers.

Online marketplaces present these sellers with an opportunity to extend their operations online and serve consumers, the survey further reasoned.

It also had some interesting finding on issues related to independent sellers.

In the survey conducted in July, about 89% of the respondents said that neutrality of the marketplace was important as a core principle and that marketplaces should not have any of its own or related party sellers on the platform.

Whereas 94% of the respondents felt that sellers controlled by the marketplace hurt the business of independent sellers.

Further, 90% of them felt that private labels by the marketplaces create a conflict of interest for the marketplace and should not be allowed to sell private labels.

On the issue of counterfeit or fake products, the survey found that sellers want strict action in this regard to resolve the issue.

About 80 % of the sellers felt that marketplace should first inform the seller and then remove the listing from the marketplace, it added.