India is establishing itself as the world’s leading mobile market
India has become one of the largest and most influential mobile commerce markets in the world, according to a new report from KPCB, a leading venture capital firm. Several Indian firms have begun to invest quite heavily into the mobile space, establishing a strong presence among a new generation of consumers that are interested in mobile payments. India currently stands as one of the fastest growing mobile markets in the world and may hold the position as the world’s leading mobile commerce market.
Companies see as much as 70% of their business come from mobile
The report shows that some companies, such as Snapdeal and Flipkart, see as much as 70% of their business come from the mobile sector. By comparison, China’s largest e-commerce company, Alibaba, which has a significant presence in the mobile commerce field, sees only 50% of its business come from the mobile space. eBay sees approximately 30% of its business come from mobile, with other retailers falling behind that.
Mobile commerce value is highest in India
Mobile commerce as a percent of all e-commerce value is at its highest in India, standing at 40%. Mobile commerce value has skyrocketed in recent years, largely due to growing smartphone ownership and the expansion of the country’s mobile Internet. Consumers are finding it easier to participate in mobile commerce, which is encouraging them to shop online from their mobile devices more regularly. Companies like Snapdeal are benefiting from this, seeing a major uptick in revenue and even making moves to become completely mobile-centric.
65% of Internet traffic in India comes from mobile devices
Though mobile has established significant momentum in India, the majority of e-commerce is still being conducted through desktop computers. Consumers also appear to favor browsing for products with their mobile devices and then purchase these products while they are at home. Approximately 65% of India’s Internet traffic comes from mobile devices, though much of this traffic has to do with visiting social media sites rather than shopping for products outright.