Online expenditure by Indians may rise 60% by 2020: Reporttext_fields
New Delhi: Expenditure by Indians on online purchases is likely to increase 60 per cent by 2020 to Rs 7.57 lakh crore, a report said here on Friday.
So far in 2018, online expenditure by Indians stood at Rs 4.73 lakh crore, as per the report "PayPal IPSOS Cross-Border Consumer Research 2018".
Further, the report predicted a 93 per cent rise in expenditure on purchases made from mobile phones and tablets to Rs 5.76 lakh crore by 2020, against Rs 2.98 lakh crore spent so far in 2018.
"The research highlights that 87 per cent of the Indians surveyed have shopped online in the last 12 months," it said.
People feel online shopping would increase due to its convenience and availability of "more (online) platforms to buy" and expectations of shorter shipping duration, the report noted.
The survey was carried out across 31 countries, the report said, adding that in India interviews were carried out among a sample size of 1,000 people.
Of the 1,000 interviewed, 981 made online purchases and among them 337 were identified as cross-border online shoppers.