E-commerce industry to grow at 60% in 2018: RedSeer

India’s online shopping industry is estimated to grow at 60 per cent to about $28.5 billion in terms of gross merchandise value (GMV) in 2018, according to a report.

The e-commerce industry is expected to return to high growth next year as large players such as Amazon, Flipkart and Paytm Mall begin to look beyond the 20 million customers who shop online on a monthly basis. Industry analyst RedSeer Consulting pegs the online shopping industry’s growth at 23 per cent to $17.8 billion in 2017.

“Once Flipkart raised money, they began spending aggressively and going after market share growth, prompting