India reported that by the year 2018 the spending in online retailing will soar to as much as $16 billion. The number of people who will engage into online buying and selling will reach at least 128 million as the report suggests.
India’s performing economy
India has a booming economy and is one of the highest performing among the Asian markets. The online industry has also contributed to the upswing of the Indian economy as well as the strengthened manufacturing industry. The IMF made a forecast for India that its economy will become $2 trillion in 2014. The strong growth of India was in line with this forecast of the International Monetary Fund. This year, the country is expected to grow by 6.4%. This prediction is according to World Bank analysts.
The boom in online retailing
Many companies in India have already made their presence felt in the online world. Services, apparels, and gadgets are being promoted online. The bulk of online buying is on mobile phones and digital gadgets. Manufacturers are already attracted to India’s promising market. Investors are projecting that there will be a continued boost of buying of products in the internet. The high tech environment in India contributes tremendously to the strengthened online retailing. Thousands of devices can be connected easily which will revolutionize the standard of living for people and will also take into another level how products and gadgets are experienced by people.
If you have positioned yourself strategically by having a strong number of online followings, then you will enjoy the ride in the years to come. Brony.com has already built its empire online, having launched itself more than a decade now. It retails apparels such as My Little Pony pajamas, My Little Pony clothes and My Little Pony hoodies. Because of its online presence, it can reach markets across the globe. Its popularity is also boosted by creating accounts in social media websites.
If your company is not yet online, it is not yet too late for your business to join the fad and launch a website. There is still plenty of room in the online world for your business to thrive. You just need to be innovative and unique to stand out among the pack.