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Study predicts the growth of India’s mobile commerce market

Dan Gendro | August 14, 2015

Mobile commerce is accelerating at a rapid rate in India

A new study from ASSOCHAM and Grant Thornton predicts that mobile commerce will explode in India in the coming year. The study forecasts that the overall e-commerce market will see a compound annual growth rate of 63%, reaching $8.5 billion in 2016. Mobile shopping is likely to play a larger role in this growth, as more consumers are beginning to use their mobile devices to shop for products online.

Mobile Internet use is growing quickly, giving consumers more access to mobile services

Mobile Internet penetration is growing throughout India and telecommunications companies are working to quickly expand their mobile networks in order to accommodate consumer demand. Smartphone adoption is also on the rise, with penetration expected to go beyond 200 million, ranking India the second largest smartphone market in the world. More consumers will be using their mobile devices to shop online and retailers will be working to provide better mobile commerce services to these consumers in order to secure their loyalty.

Online transactions to reach 38 million by the end of the year

Study - India Mobile Commerce By the end of this year, there is expected to be more than 38 million online transactions, an increase from the 11 million that was reported in 2011. The Indian government has also taken an interest in mobile commerce, planning to rebuild and modernize the postal infrastructure in order to better accommodate digital consumers. This modernization is being seen in various other sectors, as well, and it is becoming easier for consumers to participate in mobile commerce.

Online travel dominates the mobile commerce market in India

Online travel seems to be the leading force India’s e-commerce market. More consumers are beginning to use their mobile devices to book trips and plan their vacations and mobile has become one of the most influencing powers affecting online travel in the country. Retail is also experiencing a surge in mobile shopping and retailers are beginning to work to become more mobile-centric in order to provide consumers with efficient and adequate mobile commerce services.

New mobile shopping service comes to India

JT | August 10, 2015

InMobi launches new Miip platform that will bolster mobile shopping

InMobi, a prominent advertising platform, has launched a new mobile shopping platform in India that is meant to enable discovery-lead commerce, sometimes referred to as d-commerce. The platform is called Miip, and it already has the support of Amazon India, Paytm, a leading mobile commerce organization, and several other retailers. This support will allow Miip to reach 120 million consumers throughout India, which will result in an estimated 5 billion discovery sessions in the country every month.

Miip will leverage discovery commerce in order to aid retailers

Miip is meant to usher in a new era of mobile shopping, leveraging d-commerce as a powerful tool to help consumers find what they are interested in. According to InMobi, retailers, both large and small, are having difficulty getting consumers to discover and explore the products that they offer. Miip is meant to help resolve this problem by creating a personalized mobile shopping experience that will make it easier for merchants to expose consumers to the products that they have. InMobi believes that Miip will drive as much as 80% of new product discovery for merchants and the platform will work to foster the growth of mobile payments in the retail sector.

Mobile shopping is now a major influence on the retail space

Mobile Commerce - India Mobile Shopping Mobile shopping is becoming a major force in the retail space. According to Amazon India, more than 60% of its traffic comes from the mobile space, with a significant number of shoppers using applications in order to shop for and purchase products they are interested in. Mobile shopping is seen as a convenient way to participate in e-commerce, as mobile devices can be used anywhere and at any time, as long as they have access to a mobile network.

Retailers are trying to find ways to engage mobile consumers

India has established itself as a leading mobile market and mobile commerce has begun to thrive in the country. As such, many retailers in the country have begun to focus more heavily on the mobile space in order to better engage consumers. Some have had difficulty in doing so, however, and Miip may be able to provide assistance with this and help retailers modernize themselves.