Online retail apparel sales in India are likely to reach annual turnover of US$ 35 billion by 2020, said Google India director (Ecommerce and Online) Nitin Bawankule, at an event in Mumbai.
“By 2020, India is expected to generate $100 billion online retail revenue out of which $35 billion will be through fashion e-commerce. Online apparel sales are set to grow four times in coming years,” Bawankule said at the India Fashion Forum.
He further said that India’s online population would grow from the present 40 million to 100 million by 2016 and 250 million by 2020. The growth in both Internet as well as smart-phone users would be the key drivers for ecommerce sales.
According to Google research, every third shopping search on Google is fashion-related and the queries on fashion are growing at 66 per cent year-on-year.
New users will fuel the growth in online sales which will increase by 26-31 per cent in apparel, footwear, baby care and skincare products, Bawankule said citing Forrester Consumer Research 2014.
