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SME Times News Bureau | 31 Dec, 2013
Online shopping has risen by a whopping 85 percent in 2013 as compared to last year's figure of $8.5 billion on increasing Internet penetration, rising fuel prices and wider choices in the comfort of one's home, a report revealed Monday. "Online Shopping - Review & Outlook in 2013," released by industry chamber Assocham showed that India's e-commerce market rose from about $2.5 billion in 2009 to $6.3 billion in 2011, $8.5 billion in 2012 and further to $16 billion in 2013. It is expected to touch $56 billion by 2023-- 6.5 percent of the total retail market. "Spiralling inflation and slower economic growth have failed to dampen the online shopping trends. In fact, increasing Internet penetration and availability of more payment options boosted the e-commerce industry," said D.S. Rawat, secretary general Assocham. "Besides electronics gadgets, categories like apparel and jewellery, home and kitchen appliances, lifestyle accessories like watches, books, beauty products and perfumes, baby products have witnessed a significant upward movement in the last one year," he added. Over 3,500 traders and organized retailers in Delhi, Mumbai, Chennai, Bangalore, Ahmedabad and Kolkata were interviewed for the survey. Mumbai was ranked first in online shopping followed by Delhi and Kolkata as those living in metros are attracted by factors like home delivery which saves time as well as 24X7 shopping, said the survey.