E-commerce businesses from around the world obviously have an interest in the great potential of the Indian market. And a recent report from PayPal says Indian consumers are likely to spend more money than ever before on goods from foreign websites during 2016, according to an article in The Times of India.
The article does not share any background figures but says as free shipping, local payment options and fast deliveries become more common, the shopping on foreign websites by Indian consumers is likely to grow by 78 percent in 2016.
US E-Commerce Leading the Way
And international e-commerce has already become a popular activity in India.
- Indians will spend an estimated Rs 54,700 crore by shopping online from other countries in 2015, according to the report commissioned by PayPal.
Most popular is shopping from US-based companies (27 percent), followed by China (11 percent) and Britain (10 percent), according to PayPal.
Difficulties in returning goods and risks of theft and fraud, are however still among the downsides of international shopping, the report states.