New Delhi: The e-commerce industry is worth $13 billion at present and is expected to touch $90 billion by 2021, according to eTailing India Founder Ashish Jhalani.
This 700% growth will change the way organisations allocate internet advertising budgets in India, eTailing India Jhalani said in a statement here on Monday.
"E-commerce is a full-fledged industry today, from being ancillary part of the retail industry less than a few years ago. Much like Apple changed the music industry, e-commerce will not only impact retail, but also the advertising industry," Jhalani said.
"Shoppers in India are increasingly using smartphones to buy products; sites such as Flipkart, Snapdeal and Shopclues have reported that that up to 35 percent of their traffic comes from the mobile phone. With the high penetration of phones in India and improving internet connectivity, e-commerce firms are expected to reach millions of new users in the coming years, he said. In line with the growth of e-commerce, one-third of the world's advertising revenue is also expected to go digital by 2018," Jhalani said.