Latest Bussiness News - The e-commerce revolution has led to the rise of online shopping by 83 per cent in 2016, said a report by leading digital payments firm PayPal and global market research firm Ipsos on Thursday.
"Indian online shoppers spent Rs 58,370 crore online shopping from other countries last year," revealed the third Annual Global Cross-Border Consumer Research 2016 report.
Shopping on dedicated websites accounted for 53 per cent of online spending, 29 per cent through its application and 10 per cent through social media sites.
The report also estimated that cross-border online spending by Indian shoppers would grow a whopping 85 per cent in 2017.
"Online spends from domestic and cross border shopping is projected to touch Rs 875,600 crore in 2018, registering 31 per cent year-on-year growth in 2017," it said.
The research report is an evaluation of online and cross-border shopping by 28,000 consumers across 32 nations, including 800 from India.
"The internet has democratised cross border trade. The freelance economy has grown in India," said PayPal India Managing Director Anupam Pahuja in a statement, released along with the research report.(Read More)
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