India is one of the fastest growing e-commerce market in Asia-Pacific region; will reach $6 billion by 2015: Gartner

India is one of the fastest growing e-commerce market in the Asia-Pacific region and is expected to touch $6 billion (about Rs 3.7 lakh crore) in 2015, a 70 percent increase over 2014 revenue of $3.5 billion according to research firm Gartner.

India represents a $3.5 billion market, growing at approximately 60-70 percent every year. It represents less than 4 percent of the total retail market. B2C eCommerce leads the market in India, while B2B is limited to organizations that drive online channels to integrate with their partners and distributors

Mobile commerce is finding increasing traction in mobile shopping. Marketplaces, consumer product goods, and food and beverages companies have started investing in mobile commerce. Thirty per cent of traffic for eCommerce sites come from mobile and tablets.

Limited Internet penetration, low digital commerce volume, multiple payment models (like cash on delivery, credit card and wire transfers), logistics and fulfilment challenges, higher return rates and low average order value are putting pressure on the profitability and viability of the B2C eCommerce businesses, Gartner said.

The B2B model is leveraged to drive efficiency in the supply chain. The biggest challenge is getting the business digital commerce strategy right and adequate investments in people, process and technology to engage with customers across channels, which has been ignored by Indian enterprises so far, Gartner added.

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